Overpriced Yquem falling in value
Since 2005, vintages of Château Yquem have all dropped in price as expensive releases have prevented the wines from appreciating in value.
Liv-ex noted that the falls occurred “irrespective of quality” or scores. The most significant drop can be seen with the 2006, which has dropped 70% since its release despite scores of over 90 and a 19/20 from Jancis Robinson MW.
The 2007 and 2005 have also seen large drops. Both have depreciated around 47% since release with the 2007 down to £2,650 from £3,900 and the 2005 to £2,720 from £4,000.
Other drops have been slightly less severe, 14%-18%, but it is noticeable that the least steep drop is to be found in the 2008 which released at the more usual price of under £2,000 a case and has only dipped 14.9% from £1,700 to £1,480.
By contrast, pre-2005 vintages have seen good to moderate rises. The 2004, released at £1,175 a case, has risen 21.7% to £1,500; the 2003 has risen 11.5% from £1,460 to £1,650 and the 2002 has gone up 24.6% from £1,300 and £1,724.
Liv-ex also pointed out the 1990 vintage, which is currently trading at £2,710 a case, as being of interest to buyers.
It was also noted that fellow LVMH estate, Cheval Blanc, has also struggled to see appreciation in recent vintages because of spiralling release prices.