EP 14 kick starts, but back vintages pick up momentum

The 2014 Bordeaux campaign kicked off last week with a pretty subdued start. Sauternes were the main focus with a flurry of releases which was met by what seemed an unreceptive market.  As the Drink’s Business has reported Why is no one buying Sauterne’s? There have been a few main stream red releases in Chateau d’Angludet (£156), Gazin (£385), Hosanna (£720), Prieure Lichine (£220) and Sociando Mallet (£175) with prices somewhat reasonable compared to current back vintages available on the secondary market. However it does appear not to be the deep discounted start that most merchants had hoped for.

Perhaps it wasn’t such a coincidence then that bidding activity grew strongly over the week on the exchange with a 4% rise while the bid to offer ratio climbed up to 1.97:1. Trades focused heavily on the 2008 and 2009 Bordeaux vintages albeit with some softening of prices. According to John Stimpfig, with En Primeur hanging in the balance and an all time low approval rating of the region. It may well be the back vintages that show the most value for money and to where collectors find themselves heading over the coming weeks. Cavex will certainly keep our members posted where we see value on the exchange as each new release appears. However do keep your eye on the home page for daily vintage comparisons.

Trade highlights of the week:

  • Biggest Climber – Haut Bailly 2009 12 x 75 at £1,300 (+ 18.2% since 19/01/15)
  • Mouton Rothschild 2008 12 x 75 at £2,920 (+ 4.2% since 10/03/15)
  • Lafite Rothschild 2008 12 x 75 at £5,030 (+ 3.7% since 09/01/15)
  • Biggest Faller – Carruades de Lafite 2009 12 x 75 at £1,335 (- 10.4% since 19/02/15)
  • Lynch Bages 2006 12 x 75 at £730 (- 6.4% since 14/01/15)
  • Pavillon Rouge 2008 12 x 75 at £930 (- 4.6% since 18/03/15)

For this week’s hot offers we’ve picked some great parcel deals. There is value to be found in Cos d’Estournel 2006 and 2008 alongside the most traded wine on Cavex over the past two years, the 2009 Duhart Milon at £580. It’s also worth taking a look at the Grand Puy Lacoste 2006 parcel which is up for grabs.

Buyers are currently on the hunt for second growths and second wines. Value vintage 2008 features heavily again alongside the 2006. The 2009 Lynch Bages has also been trading at a very tight market spread with strong demand. If you’re in a position to offer stocks of Lynch Bages 2009 in the region of £960 to £980 do please get in touch on  trading@cavex.co.uk

Hot Offers
Wine Vintage Format Price Contract Qty Last Traded Date
Cantemerle 2009 12 x 75 £220 A 5
Cos d’Estournel 2006 12 x 75 £740 A 5 £740 19/03/15
Cos d’Estournel 2008 12 x 75 £640 A 15 £605 02/03/15
Duhart Milon 2009 12 x 75 £580 A 7 £560 14/04/15
Grand Puy Lacoste 2006 12 x 75 £335 A 16 £320 20/06/14
Grand Puy Lacoste 2008 12 x 75 £270 A 2 £270 29/09/14
L’Eglise Clinet 2005 6 x 75 £1,900 A 1
Lafite Rothschild 2005 12 x 75 £6,100 A 1 £5,550 25/06/14
Latour 2006 12 x 75 £3,300 A 2 £3,330 05/03/15
Latour 2009 12 x 75 £8,200 A 1 £8,400 13/05/14
Le Pin 2005 3 x 150 £9,000 A 9 £9,500 10/06/14
Margaux 2007 6 x 75 £1,350 A 4 £1,340 13/04/15
Margaux 2008 12 x 75 £2,720 A 1 £2,700 02/03/15
Pavie 2000 12 x 75 £3,895 A 2 £3,950 09/12/14
Pavillon Rouge 2007 6 x 150 £950 A 5 £900 27/11/14
Pavillon Rouge 2008 12 x 75 £945 A 1
Pavillon Rouge 2010 12 x 75 £960 A 4 £920 03/12/14
Pontet Canet 2006 12 x 75 £540 A 5 £530 25/03/15
Romanee St Vivant DRC 2005 6 x 75 £6,600 A 4 £7,200 09/06/14
Tignanello IGT Antinori 2008 6 x 75 £280 A 2
Hot Bids
Wine Vintage Format Price Contract Qty Last Traded Date
Carruades de Lafite 2003 12 x 75 £1,500 A 4
Carruades de Lafite 2005 12 x 75 £1,500 A 5
Carruades de Lafite 2008 12 x 75 £1,430 A 1 £1,425 14/04/15
Cos d’Estournel 2008 12 x 75 £605 A 15 £605 02/03/15
Cos d’Estournel 2009 12 x 75 £1,850 A 6 £1,840 24/03/15
Lafite Rothschild 2006 6 x 75 £2,200 A 6 £2,185 19/02/15
Latour 2004 12 x 75 £3,160 A 1 £3,160 23/02/15
Latour 2008 12 x 75 £3,200 A 2 £3,150 26/03/15
Latour 2009 12 x 75 £7,975 A 1 £8,400 13/05/14
Leoville Las Cases 2004 12 x 75 £920 A 2 £925 15/01/15
Leoville Las Cases 2006 12 x 75 £925 A 2 £950 11/01/15
Leoville Las Cases 2008 12 x 75 £900 A 2 £900 19/12/14
Les Forts de Latour 2001 12 x 75 £1,205 A 1
Les Forts de Latour 2002 12 x 75 £1,150 A 1
Lynch Bages 2006 12 x 75 £780 A 12 £730 19/04/15
Montrose 2006 12 x 75 £510 A 1 £500 31/07/14
Montrose 2008 12 x 75 £500 A 3 £500 08/04/15
Montrose 2010 12 x 75 £1,500 A 1 £1,550 29/09/14
Mouton Rothschild 2000 12 x 75 £11,550 A 3 £10,900 24/11/14
Mouton Rothschild 2003 12 x 75 £3,150 A 3 £3,150 14/04/15
Mouton Rothschild 2008 12 x 75 £2,900 A 1 £2,920 17/04/15
Pontet Canet 2009 12 x 75 £1,395 A 5 £1,400 06/04/15

Enjoy your week.

Daniel, Jean, Simon, Steph & Steve

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