Bordeaux 2009 "overpriced"

Bordeaux lovers can find better value in previous vintages than in the 2009 en primeur market, Liv-Ex has declared.

The company, whose index keeps tabs on price movements throughout the fine wine market, says that in a study of 22 leading chateaux "we find that, on average, the 2009s are trading at a 30% premium to the 2005s and a touch above the 2000s".

It adds: "This makes it the most expensive currently available vintage, bar 1982, despite it being two years away from delivery. Even at this nascent stage, the 2009s looks fully (if not over) priced and those in search of investment opportunities are likely to find better value elsewhere."

Lafite's release price was 53% higher than in 2005 and cases were changing hands for £13,200 within 24 hours.

"Since then prices have been somewhat unsteady, drifting between £11,000 and £13,900, with the most recent trade hitting £11,500: 15% higher than the current price of the 2005 and on a par with the 100-point 2003," Liv-Ex said.

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Steve Webb said:

This may be true of some of the top red wines but it is wrong to generalise. Many lesser chateaux are excellent value and in Sauternes and Barsac, my particular area of expertise, the picture is mixed. Some properties like Climens, Doisy Daene and Raymond Lafon priced very competetively when compared to the 2007s and 2005s and the overall price rise in the region was less than half that in the major red appellations.

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July 14, 2010
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