July 24 (Bloomberg) -- A case of 2009 Chateau Leoville-Las Cases, a second-growth wine estate in the Saint-Julien region of Bordeaux, sold for 1,880 pounds ($2,890) on Liv-ex, a three-month high and 7 percent up from a record low in April.
The transaction yesterday, while 21 percent below the 2,375 pounds a case at which it traded in June 2010 as the wine went on sale, took the vintage back to the upper part of the trading band it has established in the past six months.
The Liv-ex Fine Wine 50 Index, a benchmark for top Bordeaux wines, fell 2 percent in the second quarter after gaining 7 percent in the first three months, and has slipped further during July. Leoville-Las Cases consistently ranks among the more expensive of the Medoc second-growths, along with estates including Chateau Cos d’Estournel.
“The first growths and super-seconds continue to lead the way,” Paul Hart, chief executive officer of Chicago-based Hart Davis Hart Wine Co., said in a phone interview this month, citing “good strength” in the market.
The 2009 Leoville-Las Cases ranks as one of the estate’s three most expensive vintages of the past 15 years, according to merchant prices collated by Liv-ex on its Cellar Watch website.
The vintage was awarded a 98+ rating on a 100-point scale by U.S. critic Robert Parker, making it the highest-ranked Leoville-Las Cases wine of the past seven years, according to the eRobertParker.com website.
Leoville-Las Cases, on the left bank of the Gironde estuary, has about 97 hectares (240 acres) planted with vineyards, mainly Cabernet Sauvignon and including Merlot and Cabernet Franc. It also makes a second wine, Clos du Marquis.
Leoville-Las Cases was designated a second-growth in the 1855 classification of Medoc wines.
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