A 12-bottle case of 2010 wine from Vieux Chateau Certan, an estate in the Pomerol region of Bordeaux, sold for 2,111 pounds ($3,300) on the Liv-ex wine market in the past week, the vintage’s highest level in 18 months.
The transaction came as investor and collector attention has switched from some of the Medoc first-growth labels in recent months in search of value elsewhere in Bordeaux or other regions. The sale is the most that the wine has garnered since two six-bottle cases went for 2,200 pounds in January 2014.
Wine buyers are still looking for signs of stability in the market after a turbulent seven years, sparked first by the 2008 financial crisis, then a bull market led by Asian demand for Chateau Lafite Rothschild, and more recently a selloff driven by China’s crackdown on lavish gift-giving. High prices for 2010 Bordeaux wine discouraged buyers in the U.S. and U.K. while lesser 2011 to 2013 vintages proved hard to sell.
Bordeaux’s “average monthly share is 74.2 percent so far this year compared to 79 percent in 2014,” Liv-ex’s latest monthly Cellar Watch report said of trading on the exchange. “Back in 2010 it took 95.2 percent.”
Continue reading: Bloomberg Business