Lynch-Bages ’08 Bordeaux Rallies to Reach $1,125 Four-Month HighGuy Collins
A case of 2008 Chateau Lynch-Bages, a wine estate in the Pauillac region of Bordeaux, sold for 745 pounds ($1,125) on the Liv-ex market, its highest level for more than four months.
The transaction yesterday was 5 percent above the low for this year at which it traded last month, and is more than double the 340 pounds at which it sold in April 2009 when it started trading in the futures market.
The Liv-ex Fine Wine 50 Index has risen more than 4 percent this year, maintaining overall gains even as a 2 percent drop in the second quarter of the year followed a 7 percent jump in the first. While the index tracks top Bordeaux prices, investors and collectors are also looking beyond the region’s flagship estates to seek out other producers and regions.
The wine market is “much better than at the beginning of the year,” said Stephen Williams, founder of the London-based Antique Wine Company. “We’re not worried about prices going down any more.”
The 2008 Lynch-Bages ranks as the estate’s third highest-priced wine of the past five years, lagging those from 2010 and 2009, according to merchant prices collated by Liv-ex on its Cellar Watch website.
The vintage was awarded a 93 rating on a 100-point scale by U.S. critic Robert Parker, below the marks for the two vintages that immediately followed it, according to the eRobertParker.com website.
Chateau Lynch-Bages has almost 100 hectares (247 acres) planted with vines, predominantly Cabernet Sauvignon along with Merlot, Cabernet Franc and Petit Verdot.
The vineyard is on the left bank of the Gironde estuary and ranks as a fifth growth among the Bordeaux estates listed in the Medoc classification drawn up for Napoleon III’s 1855 Paris Exhibition. That puts it among the Medoc’s top 61 producers for dry wines.
Its vineyards date back to at least to the 18th century and the estate has been under the control of the Cazes family since the Second World War.