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Lafite - The New Petrus?
3rd November 2010
By Thomas Gearing (Director) - Cult Wines Ltd - http://www.cultwinesltd.com
Last week proved to be a quite historic week for the first growth Bordeaux Estate. On Tuesday they announced that the bottles for the 2008 vintage would adorn the Chinese symbol for the number ‘8’ to celebrate the Chateau’s plans to develop a vineyard in mainland china.
They claimed the symbol (shown above) offer(ed) a perfect
representation of the slopes of the vineyard and commemorates the
launch of our Chinese wine project’. Those of us, who are little
more savvy, will realise that this decision may well have been
driven by huge importance of the number 8 in Chinese culture and the
fact it represents prosperity, wealth and fortune. The number 8 is
viewed as such an auspicious number that even being assigned a
number with several eights is considered very lucky.
The graph below compares the current UK market prices against
today’s sales prices for the respective wines. With the 2009 vintage
achieving sales in the region of £35,000 – three times more
than thelowest available price on the UK market.
This year some industry insiders claimed that Lafite would soon be
trading at prices similar to Petrus, with Lafite from the lesser
vintages trading above £10,000 and Lafite from the best vintages
trading from £25,000+. Whilst many dismissed these claims out of
hand, Friday’s auction seems to have confirmed that this may well be
the direction Lafite prices are headed.
Whilst the high prices achieved at auction were in part due to the
wines coming straight from the private cellars of Lafite –
empahsising the importance (and price) of provenance. There is
certainly a pattern emerging between the high prices these two wines
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