Chateau La Conseillante ’08 Rallying as 2000 Vintage Also SoughtGuy Collins
Chateau La Conseillante, a Bordeaux wine estate on the right bank of the Dordogne, is seeing its 2008 vintage rally on the Liv-ex market at the same time as auction demand persists for its more mature 2000 vintage.
While the 2008 vintage still trades infrequently, two cases sold for 750 pounds ($1,170) each on Liv-ex late last month, up 6 percent from six months ago and a gain of 60 percent from the 470 pounds which it fetched in August 2009 soon after its release, according to data on Liv-ex’s Cellar Watch website.
While the Liv-ex Fine Wine 50 Index of top Bordeaux wines has risen 4 percent since the start of 2013, gains came mainly in the first 10 weeks of the year, with prices sliding since mid-March. A muted response to Bordeaux 2012 wine futures sales has focused demand on older vintages, while some right-bank areas including Pomerol have also seen more buying interest.
“Right-bank wines were more robust” in recent weeks, Chris Smith, investment manager at The Wine Investment Fund in London, said in his recent monthly market report. The fund, invested in Bordeaux, manages $50 million.
La Conseillante’s older 2000 vintage has seen at least 10 lots traded at auction since the start of this year, including five cases at a Christie’s New York sale in March, one of which sold for $2,662, a second for $2,178 and three others for $2,057 apiece. At the same auction house at the end of May, 12 bottles of the same vintage fetched $2,440.
Chateau La Conseillante, in Bordeaux’s Pomerol region, was acquired by the Nicolas family, the present owners, in 1871 and has 12 hectares (30 acres) under vines, of which 80 percent are Merlot and 20 percent Cabernet Franc. Winemaker Jean-Michel Laporte has been director since 2004 and Michel Rolland began consulting at the winery this year.
The 2000 Conseillante is the estate’s most expensive since the 1990 vintage, according to merchant data compiled by Liv-ex, and was awarded 96 points by U.S. critic Robert Parker, putting it among the top four vintages of the past 15 years. The 2008 was rated at 95 points.