First growths go up and up

Bordeaux Index has announced sharp jumps in price for various vintages and houses in the wake of the latest developments in Asia.

As previously reported in the drinks business, the etching of the Chinese number eight on Lafite’s 2008 vintage has precipitated a sharp rise in that wine’s value.

Bordeaux Index reported that in only two days the price moved from £9,000 a case to £13,000.

In addition prices of 2009 crept from £12,500 last week to around £15,000 on Monday.

However, it is not only Lafite that has seen a price hike in recent days. The index also noted that the estate with the highest premia – to market – at recent auctions was Cheval Blanc.

On the other hand, as Doug Rusman, managing director for Bordeaux Index in Hong Kong and db have noted, although Bordeaux remains as popular as ever among Asian buyers, Burgundy has increasingly been making headway on the auction scene.

This would appear to show that, certainly among some clients, a widening interest in wines beyond Bordeaux is developing and they are getting more confident with experimenting with different names.

Rusman observed: “Labels with symbols that stand out like Angelus or Beychevelle have risen to fame faster than others,” he observed. “That’s the nature of an emerging market where buyers cling to an element of safety and follow the herd.”
 
“That is definitely changing though, and even over the last few months we’ve seen mainland buyers looking at Burgundy wines. The speed of change in China is extremely rapid. It’s very difficult for a Western company to follow the trend – let alone keep ahead of the curve – unless they have a strong and committed presence here.”

Rupert Millar, 04.11.2010