A case of 2008 red wine from Chateau Angelus, a Saint-Emilion wine estate promoted to the region’s top status of Premier Grand Cru Classe A last year, sold for 1,700 pounds ($2,700) on Liv-ex this week, slipping to a four-month low.
While the price was 8 percent down from the peak of 1,840 pounds a case touched on London-based Liv-ex in June, it was above the 1,600 pounds at which it traded May 7 and still left the vintage 52 percent above its level at the end of August last year, just prior to the estate’s promotion, Liv-ex data showed.
The Liv-ex Fine Wine 50 Index, a benchmark for top Bordeaux wines, has slipped 1 percent since the end of June, extending a 2 percent second-quarter drop amid a muted investor response to Bordeaux 2012 sales. There are signs of a revival in demand, with collectors showing appetite for wines from the right back of the Dordogne such as Pomerol and Saint-Emilion, which are made in smaller quantities than left-bank clarets and are often Merlot-dominated.
“Far outperforming the other indices is the Right Bank 100, which has risen 16.9 percent year-on-year,” Liv-ex said in a market commentary blog this month.
The Right Bank 100 Index includes Angelus, which was promoted along with Chateau Pavie last year, joining Chateau Ausone and Chateau Cheval Blanc in Saint-Emilion’s top tier of wine producers. The new rankings replaced a classification in force since 1996.
Angelus 2008 is cheaper than the estate’s two subsequent vintages in merchant listings, although more expensive than its 2011 wines, according to data on Liv-ex’s Cellar Watch website.
The 2008 Angelus has a 93 rating on the 100-point scale used by U.S. critic Robert Parker, lower than the score assigned to at least six other vintages in the past 10 years.
The estate 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.