Sixty-six bottles of Louis Roederer Cristal 2004 Champagne sold for 1,400 pounds ($2,260) per 12-bottle case on Liv-ex, matching its September high as investors seek diversification from Bordeaux.
The sale on Nov. 22 matched the record set Sept. 3 and was 22 percent up from the level of 1,146 pounds a case at which the Champagne traded in December, according to data on Liv-ex’s Cellar Watch website. It touched a record low 1,038 pounds in February 2011.
The Liv-Ex Fine Wine 50 Index tracking top Bordeaux wines has given up all of the gains it made in the first 10 weeks of the year as investors deterred by prices of recent vintages, particularly first growths, have diversified outside the region. The index fell 1.5 percent in October, its sixth monthly decline in the past seven, extending a slide which has taken it down 8 percent since mid-March.
“The market is developing and the world is realizing it’s not all about Bordeaux,” Jennifer Williams-Bulkeley, managing partner at AOC Investment Advisors in Boston, said by phone.
Cristal, whose 2004 vintage is a blend of 55 percent Pinot Noir and 45 percent Chardonnay grapes from Roederer’s top vineyards, spends an average of five years in cellars and rests for eight months after disgorgement of the bottles, according to Champagne Louis Roederer SA’s website.
The Louis Roederer Group’s interests extend beyond Champagne to independently managed wineries such as Roederer Estate and Scharffenberger in California, Maison Delas in the Rhone valley, Ramos Pinto in Portugal’s Douro and Bordeaux vineyards including Chateau Pichon Longueville Comtesse de Lalande.
The Cristal transaction on Liv-ex came after a two-bottle lot of Moet & Chandon Champagne from the 1914 vintage fetched 10,340 pounds at a Sotheby’s wine sale in London this month, exceeding the auction house’s presale estimate.
The historic lot was part of a vintage collection marking the Champagne house’s 270th anniversary. Bottles of Moet spanning the years from 2004 back to the start of World War I, and including 174 magnums and three jeroboams, fetched 147,333 pounds in total, according to Sotheby’s.
Three two-bottle lots of Moet & Chandon 1921 sold for 8,813 pounds each, while three single bottles of the 1928 vintage fetched 5,405 pounds each, also beating estimates. Two other two-bottle lots of the 1914 vintage fetched 7,285 pounds each.