Cheval Blanc 1947 Joins Latour on Sale as Prices Recover
A double magnum of Chateau Cheval Blanc 1947 goes on sale at a Sotheby’s (BID) New York wine auction next month, while Acker Merrall & Condit has bottles of Chateau Latour 2003 and a magnum of Cros Parantoux 1988 Henri Jayer.
The Cheval Blanc double magnum, reviewed by the chateau and which Sotheby’s estimates may fetch $60,000-$90,000, comes from the vintage rated one of the top two of the past 65 years for the Saint-Emilion producer by U.S. wine critic Robert Parker. A 12-bottle case of the same wine sold for HK$1.23 million ($158,000) at a Zachys Hong Kong auction in January.
The London-based Liv-ex Fine Wine 50 Index (LXFW50) has rallied 10 percent since November. Bordeaux vintages, which were sold off during the 16-month market slump starting in July 2011, have started to recover again this year. A rally in first-growth wines such as Latour and signs of investor demand for some more recent years such as 2004 have helped boost the index.
“Bordeaux interest has reawakened,” Acker Chief Executive Office John Kapon said in a telephone interview from New York. “I think there’s good opportunity in the younger wine segments.”
A case of Chateau Mouton-Rothschild 2004 sold for 3,150 pounds ($4,760) on Liv-ex March 18, its highest level for 17 months. The Mouton, a first-growth Pauillac, was almost double the 1,575 pounds at which it traded soon after release in the futures market in June 2008.
The Acker sale includes a case of Latour 2003 with a top estimate of $11,000 and 12 bottles of the same grower’s 2000 vintage, estimated at as much as $7,000. Top Burgundies in the sale include a magnum of Vosne-Romanee 1988 Cros Parantoux from Henri Jayer, estimated at as much as $12,000, and a magnum of his Echezeaux from the same year with a similar price tag.
Here is a list of global wine auctions scheduled so far this year. Dates may be subject to revision, and links are to auction house sale catalogs and websites.
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