Latour leads decline in March

The Liv-ex 100 index dipped slightly in March as the market slowed in the first quarter of 2015 following a more positive end to 2014 and Latour came off worst.

The index dropped 0.4% in March just as it did in February and these declines follow a flat January in what has been a somewhat disappointing start to 2015 for fine wine after the market showed great improvement from the summer of 2014 onwards.

The month’s top movers were 2009 Ornellaia (up 5.3%) and 2010 Solaia (up 4.7%), closely followed by the 2004 Cristal, 2000 Cheval Blanc and 1996 Lafite Rothschild.

Domaine de la Romanée-Conti’s 2010 Romanée-Conti was among the month’s worst performing labels, declining 5.6%, 2009 Montrose and 2004 Comtes de Champagne also declined but it was Latour which seemed to suffer most of all.

Following what has generally been considered to have been a successful, well-judged ex-cellar release of its 2003 vintage, the reaction had little impact on other Latour vintages, the 2009 falling 4% in value and 2005 6.5%.

It is still hoped that Robert Parker’s re-scoring of the 2005s in his 10-year retrospective will give a boost to that great but mysteriously declining vintage.

Meanwhile, with the en primeur tastings currently underway and the campaign proper due to begin very soon, Bordeaux’s share of trade on the index was 72.9%, a little way under its monthly average in 2014 of 79.1%.