Le Pin 2007 Pomerol Rises 12% to Record $17,700 on Liv-ex Market

A 2007 case of Le Pin Pomerol, whose wines are among the rarest of the top Bordeaux vineyards, traded on the London-based Liv-ex exchange at a record 11,200 pounds ($17,700) this week, extending the vintage’s two-year climb.

The sale on Jan. 23 was 12 percent up from a similar transaction on Liv-ex Dec. 6 and 87 percent higher than its price on April 1 2010, according to Liv-ex data. The wine, which is made from Merlot grown on gravel, first traded as futures on the exchange in June 2008 at 6,500 pounds a case.

Le Pin, acquired by Jacques Thienpont in 1979, covers just two hectares (five acres) and was one of the first of the region’s niche producers whose prices were driven partly by scarcity value. Its 2009 and 1982 wines received perfect 100 scores from U.S. critic Robert Parker, while the 2007 rated an 89 and was his lowest-ranked from the vineyard for a decade.

Le Pin 2007 is the fourth-biggest gainer over the past year in the Liv-ex Right Bank 50 Index, which comprises 10 recent vintages from each of five top Saint-Emilion and Pomerol producers. Le Pin 2007 is up 19 percent over the period, according to European merchant list prices compiled by Liv-ex, while the 2009 has risen 68 percent and the 2004 has added 72 percent. The 2002 from Chateau Petrus, a close neighbor, has gained 26 percent.

The 2007 vintage of Le Pin was described by Parker in an April 2010 tasting note on his website as elegant, fruity and slight herbal with a “medium body and a soft style.” While the wine rarely appears at auction, two lots, one comprising a case and the other two half-cases, each fetched the equivalent of $12,300 at an Acker Merrall & Condit sale in Hong Kong in November 2010.

The Liv-ex Fine Wine 50 Index, comprising first-growth clarets, has risen 3 percent so far this month after declines of 9.7 percent last year and 17 percent in 2011.

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