Second wine price surge
Prices for Bordeaux 2010 are coming thick and fast following Vinexpo but it is the second wines from the first growths that have particularly eye-catching prices.
Whereas prices for the first wines have risen by 9% over their 2009 prices, the second wines are up anywhere between 60%-80%.
Carruades de Lafite is â‚¬108 per bottle (p/b) ex-nÃ©gociant, a 58.8% increase on 2009 when it was â‚¬68 and a staggering 200% up on 2005 (â‚¬36) according to Liv-ex.
Petit Mouton is also out at â‚¬108 p/b, an 80% rise on 2009 (â‚¬60) and Pavillon Rouge was the same. Forts de Latour however went one further and released at â‚¬168 p/b, an 82% rise on 2009.
Liv-ex was asking on its blog if this is an indication that Latourâ€™s first wine is going to release at a higher price than its fellow firsts.
Lafite, Margaux, La Mission Haut Brion and Mouton Rothschild were all released at â‚¬600 p/b, a 9.1%-11% increase on 2009. Latour and Haut Brion are yet to release their wines.
The chÃ¢teaux clearly feel that there is room to manoeuvre on price with the second wines, hence the rise, but the question must now be: â€œWill the market agree?â€
Cos dâ€™Estournel, Clerc Milon, Figeac, Conseillante, Vieux ChÃ¢teau Certan and Troplong Mondot also made their appearances this week.
Cos actually appeared 5.7% lower than 2009 at â‚¬198 p/b but, nonetheless, Liv-ex reported that trading was slow. On the other hand Margaux and Pavillon Rouge, released on the same day, saw a strong demand trading at Â£7,939 and Â£1,450 respectively by the end of the day.
In a surprising move, Palmer and Evangile released at the same price as last year. Palmer at â‚¬215 p/b and Evangile at â‚¬180 p/b.
Duhart Milon was released at â‚¬62 p/b, a 63% rise on 2009 and trading was reportedly strong.
Rupert Millar, 30.06.2011