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Value in Pape Clement 2012?

Is Pape Clement one of the most undervalued wines in the 2012 Bordeaux vintage?

Rated in the top five wines of the vintage by Robert Parker this May with 97-points, he labelled the Pape Clement an “iconic” example from the estate in what is quickly becoming apparently the most under-appreciated vintage from Bordeaux since the 2008s.

As Liv-ex has noted, its upgrade to 97-points from 92-95 and Parker’s fulsome praise did much to boost the wine when it became physical in April.

Having slumped to £400 a case at that point it rose in the space of just a month to a new high of £550 – up 38%.

It dropped back a little to £470 by June/July but has since found a level and was exchanged for £490 yesterday (17 August), while its average market price is £511 p/cs.

Yet what makes it stand out from the rest of the wines in the top five. It to a quarter as cheap as the three other wines rated 97-points, with Hosanna averaging £1,050 p/cs, La Mission Haut-Brion £1,365 and La Violette £1,980.

Meanwhile it is over five times cheaper than the top-rated Parker wine, the 98-point Haut-Brion which is now £2,762 p/cs.

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