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.

llevee-breaks.jpgWhereas 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 €108 per bottle (p/b) ex-négociant, a 58.8% increase on 2009 when it was €68 and a staggering 200% up on 2005 (€36) according to Liv-ex.

Petit Mouton is also out at €108 p/b, an 80% rise on 2009 (€60) and Pavillon Rouge was the same. Forts de Latour however went one further and released at €168 p/b, an 82% rise on 2009.

Liv-ex was asking on its blog if this is an indication that Latour’s first wine is going to release at a higher price than its fellow firsts.

The rise of the second wines in recent years has been commented on before by the drinks business.

Lafite, Margaux, La Mission Haut Brion and Mouton Rothschild were all released at €600 p/b, a 9.1%-11% increase on 2009. Latour and Haut Brion are yet to release their wines.

The châteaux clearly feel that there is room to manoeuvre on price with the second wines, hence the rise, but the question must now be: “Will the market agree?”

Cos d’Estournel, Clerc Milon, Figeac, Conseillante, Vieux Château Certan and Troplong Mondot also made their appearances this week.

Cos actually appeared 5.7% lower than 2009 at €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 £7,939 and £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 €215 p/b and Evangile at €180 p/b.

Duhart Milon was released at €62 p/b, a 63% rise on 2009 and trading was reportedly strong.

Rupert Millar, 30.06.2011

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