Date£º
2014-02-27 11:14 Source£º
thedrinksbusiness Author:
Rupert Millar Translator:
February has seen Cheval Blanc take its highest share of monthly trade on Liv-ex since December 2012 ?in the appropriately named Year of the Horse.
Cheval Blanc’s share of trade on Liv-ex so far in February has been 11% which is four times its average and the highest level of trading since the 7% it reached in December 2012.
Liv-ex explained on its blog that the increasingly expensive release prices are putting buyers off to begin with -despite the chateau's reputation.
On the other hand, Cheval Blanc is also one of the worst performers when it comes to sustaining its original prices and the subsequent drops suddenly makes buying vintages a little after their release a lot more tempting.
The 2009 and 2010 have apparently been the most sought after vintages this month. They are both highly rated (Robert Parker gave them 99 points and 100 points respectively) and although they are the two most expensive recent vintages (6,950 pounds and 7,500 pounds respectively) they have also dropped 10% and 18% from their release prices.
Only two other Cheval vintages match the '09 and '10 for price and reputation, and those are the famous 1947 (a full, original wooden, case costing around 100,000 pounds) and the 2000 which is under 6,000 pounds a case.
The surge in trading over the Chinese New Year that has been characteristic of recent years has been declining of late as the government cracks down on both corruption and ostentatious gift giving.
Nonetheless, labels that match propitious years in the Chinese zodiac do seem to see a bit of a boost round January and February.