With all eyes fixed on Vinexpo last week, there was little 2010 action to be had – bar the surprise release of Evangile on Friday afternoon at €180 per bottle ex-negociant (the same price as the chateau's 2009). This morning the campaign was back in full force, with Super Second Cos d'Estournel surfacing at €198 (-5.7 per cent on '09) and the first of the Premiers Crus, Chateau Margaux, coming to market at a first-tranche price of €600 (+9.1 per cent on '09). Other notable releases included Pavillon Rouge at €108 (+80.0 per cent on '09) and Clerc Milon at €48 (+33.3 per cent on '09).
Despite its weighty price rise, Pavillon Rouge was in hot demand and traded on Liv-ex at a high of £1,450 per 12x75cl case - a clear reflection of the power of the brand. Margaux also drew bidders' attention and found a market at £7,939 per case. Demand for Cos, however, was subdued. Even with its 2010 discount in hand, the wine's opening price was higher than the current trading prices of other available vintages. As we mentioned in a recent blog post, this is an important indication of a wine's probable (or improbable) success on the secondary market.
The chart below shows the ex-negociant prices of today's releases alongside the current trading prices of other recent vintages. (All prices have been converted to euros per bottle.)
For up-to-the-minute coverage of news and release prices, visit the Liv-ex En Primeur Pages. You can also keep up with all of the latest news from Bordeaux by following Liv-ex on Twitter (@Livex) and Facebook (www.facebook.com/Livex.Fine.Wine.Exchange).