Prices of Bordeaux 2008 keep going up and up

Prices of 2008 Bordeaux first growths have jumped significantly in the past two months.

Liv-ex recently released figures that show, on average, a 20% increase in price. According to the fine wine exchange, the mounting interest in 2008 and subsequent price rise was down to normal price appreciation and Robert Parker’s original scores.

Investors saw that, although Parker gave the vintage very good scores, they remained affordable in comparison with 2000 and 2005. On top of this he has stuck by his original evaluation cementing investor confidence.

Liv-ex’s graph shows that between February and April of this year, prices of 2008 Lafite rose by 25%, Latour by 22%, Mouton by 16% and Margaux by an enormous 43%.

This puts prices per case of Lafite at £6,000 (up from £4,900 in February), and Mouton and Margaux are now at £3,000 a rise from £2,700 and £2,100 respectively.

The price of Lafite 2008 began to rise last year but Margaux has only recently started to attract attention and, as a result, bigger prices.

Both Parker and an upcoming report in the drinks business have looked back on the qualities of 2008, which several commentators have declared will in some cases surpass 2009, especially in Pomerol and St-Emilion.

Parker recently said that 2008 was the vintage that “smart money will seek out”. He added: “Hopefully, smart money has already purchased and will continue to purchase the under-valued and reasonably priced 2008 Bordeaux.

“More and more I am convinced that in ten years this vintage will prove to be far superior overall to 2001, 2002, 2003, 2004, 2006, and 2007, and not far off the quality of the 2005 and 2009.”

Ironically the “smart money” investing in 2008, will, most likely, only serve to drive up prices to yet more unaffordable and unreasonable levels for many people, particularly of the first growths.

Rupert Millar, 29.04.2010