Chateau Latour 2006 Rises to Seven-Month High on Liv-Ex MarketGuy Collins
A case of 2006 wine from Chateau Latour, a first-growth Pauillac estate, sold for 4,200 pounds ($6,500) on the Liv-ex market this week, a seven-month high and 6 percent above its 2013 low.
The vintage fetched as much as 5,750 pounds a case on London-based Liv-ex in September 2011 as appetite for Bordeaux wines peaked and dropped as low as 3,800 pounds last August after demand cooled. This week’s trade took place on June 18.
The Liv-ex Fine Wine 50 Index has risen 5 percent this year, with an 8 percent gain in the 10 weeks to mid-March, pared by a 3 percent decline since then. Price cuts on Bordeaux 2012 futures over the past two months have weighed on prices of other vintages from the region.
The 2005 vintage is the second cheapest Latour of the last seven years available on the market, ahead of only the 2007, according to merchant data collated by Liv-ex on its Cellar Watch website.
The vintage was awarded a 95 rating by U.S. wine critic Robert Parker, above the 2007 but below his ranking for the following three vintages.
Latour has 78 hectares (193 acres) of vineyards in production, of which 47 hecares around the chateau itself qualify for its main wine, according to its website. It is planted with about 80 percent Cabernet Sauvignon grapes, 18 percent Merlot and 2 percent Cabernet Franc and Petit Verdot.
Since last year the estate no longer sells its wine in the futures market, unlike most Bordeaux estates, opting instead to mature it in its own cellars for subsequent release. The estate is owned by French billionaire Francois Pinault and managed by Latour’s President Frederic Engerer.
Editors: Peter Torday, Sheldon Reback