Time to buy 2010 Lafite?

With Lafite’s 2010 vintage now over 50% below its release price, is now the time to buy?

The vintage was released when Lafite was at the peak of its, Asian-driven, powers – commanding a 130% premium over its fellow firsts.

The 2010 vintage was released at £12,000 a case, but the market was at its peak and in fact was already tottering. The 2010s and Lafite in particular began to decline in value almost immediately and, with a few exceptions, have been declining ever since.

Lafite though, had loftier heights from which to fall and from release in 2011 to today it has declined 53.2% and is now available for £5,500 a case.

In fact it last traded on Liv-ex at £5,390 a full 55% below its release price.

Yet there is no doubting the quality of the liquid in the bottle.

The least effusive critic was Robert Parker but even he gave it 98-points. Meanwhile, Neal Martin called it “spellbinding!” and gave it 99+ and James Suckling originally awarded it 100 and while he later modified that to 99 he still considers Lafite to be one of the best wines of the vintage.

The question is, however, is now the time to buy Lafite 2010? Will it decline further or is this the bottom of the market and prices are set to firm up from now on?

One can always hope, either as a collector or investor, that the price may just dip a little further but it seems unlikely it will go much further, particularly as it has held relatively steady around £5,500 for the last six months.

The 2010 is now cheaper than the 2009 and 2005 (£6,250 and £6,200 respectively) and it would be surprising if a vintage as highly rated sank as low as the 2011 and 2012 which are around £3,000 p/cs and wishful thinking indeed to hope for a fall below low that were the 2013 and 2014 currently dwell.

It may sink down to the level of the 2008 (£5,250) which Parker also gave 98-points to but with the market showing positive signs once again and growth on the cards – something would have to be drastically wrong for the 2010 to continue to decline.

As Liv-ex director Anthony Maxwell told the drinks business, this week on the marketplace 2010 Bordeaux has accounted for 21% of all overall trade and 28% of all Bordeaux trade.

And with Lafite having enjoyed “consistent support” at the £5,500 mark since October last year, “it’s worth a look at is what the numbers suggest,” said Maxwell.

Get your wallets out, everyone, you might not see it cheaper again.