Eleven cases of the 2010 vintage from Chateau Pichon-Longueville, a Pauillac wine estate, sold for 1,375 pounds ($2,140) each on the London-based Liv-ex market in the past week, its lowest level for five months.
The price on the trades, which took place between May 8 and May 10, was 25 percent down from the peak of 1,845 pounds a case touched on Liv-ex in February, Liv-ex data on its Cellar Watch website showed. The vintage traded at a low of 1,158 pounds a case in October.
The 2010 vintage is rated one of Pichon-Longueville’s top four of the past 30 years by U.S. critic Robert Parker, on a similar level to its 1990s and 2000s and close to matching the 2009s which immediately preceded it. The price decline followed a 1.3 percent drop in the Liv-ex Fine Wine 50 Index in April, after four consecutive months of gains.
Pichon-Longueville is owned by Axa Millesimes, the wine investment arm of Paris-based insurer Axa SA, and run by managing director Christian Seely.
Parker described the 2010 vintage as “full-bodied and opulent, with relatively high tannins,” in a Wine Advocate note from February, ranking it a 97+ on his 100-point scale. It is the most expensive of the estate’s wines since the 1990 vintage in merchant retail listings tracked by Liv-ex.
Pichon-Longueville has 73 hectares (180 acres) planted to vines, of which 40 hectares are used for its main wine. Its vineyard comprises 65 percent Cabernet Sauvignon grapes with the remainder Merlot. The chateau was built in 1851 and the estate was ranked a second-growth producer in the Bordeaux 1855 classification.