July 10 (Bloomberg) -- A case of 2007 Chateau Angelus, a Bordeaux vineyard promoted in last year’s classification of Saint-Emilion wines, sold for a record 1,641 pounds ($2,440) on the Liv-ex market, 18 percent above its December level.
Angelus prices have risen since its promotion to the ranks of the top four growers in Saint-Emilion last September. It now rates as a Premier Grand Cru Classe A alongside Chateau Cheval Blanc, Chateau Ausone and Chateau Pavie in the classification, which replaced one dating from 1996.
The 2007 vintage of Angelus has outpaced the Liv-ex Fine Wine 50 Index, which has risen 5 percent since the start of this year. While Bordeaux wines have slipped in the past three months during the sales campaign for the region’s 2012 vintage, prices are now showing more stability.
“Longer-term prospects for fine wine prices remain good,” Chris Smith, investment manager at The Wine Investment Fund in London, wrote in his monthly market report. The fund, invested in Bordeaux, manages $50 million.
Angelus 2007 has more than doubled from the 780 pounds a case at which it sold in November 2009, soon after becoming available. It traded at 1,130 pounds in April 2012, before its promotion gave a boost to prices, according to London-based Liv-ex’s Cellar Watch website. Pavie was promoted alongside it.
The estate, on the right bank of the Dordogne, is owned by Hubert de Bouard de Laforest, whose family traces its connection with the vineyard back through eight generations, according to its website. The current property took shape during the 20th century, when the family’s Chateau Mazerat estate absorbed a neighboring plot of vines known as L’Angelus.
The 2007 Angelus is the estate’s cheapest of the past 10 years, along with the 2011 wines, and has the lowest rating from U.S. critic Robert Parker, who gave it 92 on a 100-point scale.
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