Live ex trade has been reported to be steady after Latour released its ex-négociant price at a 43 per cent price drop on the previous year.
Cheval Blanc has also released at a similar price, taking a hefty 48 per cent price cut on 2010 levels. However, there were different reactions in the market to the price releases. One of the main reasons for this is that this is Latour's last year to participate in en primeur, which makes the wine a must-buy in many investors' eyes.
According to Bordeaux insiders the first allocation is sold out and a second tranche is expected today. This certainly represents interest of a different kind however, and there shouldn’t be too much more read into the surge of investment interest.
At £4,500 a case, Latour sits in the middle of other physical vintages. Cheval Blanc has struggled after its release, despite lowering their prices from €850 per bottle in 2010 to €440 per bottle this time around. This is still priced above most other physical vintages, with the obvious exceptions of 2000, 2005, 2009 and 2010.
The slow demand for Cheval Blanc has been attributed to it lacking the 'compelling reason' to buy it, which has become a ground rule for most investors in the 2011 market. Other chateaux to release yesterday were Eglise Clinet at a 63 per cent drop, and Pavie at a 49 per cent drop, both which were quite well received on the market.
Many big names are still to release, and the market seems to be picking up a little more than it was. Most people expected a quick campaign after en primeur, but producers seem to have held on for a little longer than thought. Ausone, Le Pin, Duhart-Milon, Pétrus, Vieux Château Certan, Talbot, Ducru Beaucaillou and Léoville Las Cases are among those still not out.
Thank you for your enquiry, do you wish to proceed