After temporarily drying up yesterday, today's 2010 releases from Bordeaux include Fourth and Fifth Growths Beychevelle and Cantemerle. The latter was released at €21/bt ex-negociant, reflecting a modest increase of 5.5 per cent on its 2009 opening price (€19.9). Beychevelle, however, tested unchartered waters, becoming the first major wine to be released at a considerable premium to 2009. The 2010 surfaced at €54 euros/bt, up from €44/bt last year. As one of Bordeaux's most popular Chinese brands, however, even the 23 per cent price hike failed to dampen buyers' enthusiasm. Shortly after its release, the wine traded on Liv-ex at £630 per 12x75cl case. Since then bids have gradually edged higher and have now reached £690 (just £10 shy of the current price for 2009).
Though there is clearly an appetite for top Asian brands (many of which have seen tremendous price growth in recent months), will the market absorb similar price rises for other top Bordeaux? The Liv-ex 2010 Membership Survey suggests that it will not, with the majority of merchants predicting higher prices and lower demand this year. You can view the full survey results as well as the latest release prices and critical coverage on the Liv-ex En Primeur Pages.