Chateau Pavie ’09 Bordeaux Reaches Record $4,100 After Promotion

A case of 2009 Chateau Pavie, a Bordeaux vineyard promoted in last year’s classification of Saint-Emilion wines, sold for a record 2,710 pounds ($4,100) this week on Liv-ex, more than 20 percent above its level of a year ago.

Pavie prices have risen since its promotion to the ranks of the top four growers in Saint-Emilion last September. It now rates as a Premier Grand Cru Classe A alongside Chateau Cheval Blanc, Chateau Ausone and Chateau Angelus in the classification, which replaced one dating from 1996.

The 2009 vintage of Pavie has outpaced the Liv-ex Fine Wine 50 Index, which has risen 6 percent in the past year. While Bordeaux wines have slipped in the past four months during the sales campaign for the region’s 2012 vintage, prices are now showing more stability, both on Liv-ex and at auction.

“Bordeaux has remained strong, if priced correctly,” Richard Harvey, International Director of Bonhams wine department in London, said by phone yesterday.

Pavie 2009 has risen 26 percent from the 2,150 pounds at which it traded in August 2012, before its promotion gave a boost to prices, according to London-based Liv-ex’s Cellar Watch website. Angelus was promoted alongside it.

The trade at 2,710 pounds took place July 30, with three half-cases sold the following day at an equivalent per-case rate of 2,700 pounds.

The estate, on the right bank of the Dordogne, was acquired by Gerard and Chantal Perse in 1998 and has about 35 hectares (86 acres) under vines, predominantly Merlot with some Cabernet Franc and Cabernet Sauvignon.

The 2009 Pavie is the estate’s most expensive since the 2000 vintage, according to merchant data compiled by Liv-ex, and was awarded a perfect 100 points by U.S. critic Robert Parker.

Before it's here, it's on the Bloomberg Terminal.