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Pavie 2008 Saint-Emilion Climbs to Record $2,500 After Promotion

Two cases of 2008 Chateau Pavie, a Bordeaux vineyard promoted in last year’s classification of Saint-Emilion wines, sold for a record 1,605 pounds ($2,500) each in the past week on the London-based Liv-ex wine market.

Pavie prices have risen 30 percent in the past year since its elevation to the ranks of the top four Bordeaux growers in Saint-Emilion. 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 2008 vintage of Pavie has outpaced the Liv-ex Fine Wine 50 Index, which has risen 5 percent in the past year. While Bordeaux wines have slipped in the past five months during the sales campaign for the region’s 2012 vintage, prices have showed more stability since mid-August, both on Liv-ex and at auction.

“Having dipped in the middle of the month to a seven-month low, the Liv-ex 50 roused itself in the second half of August to end the month almost exactly where it had started,” Liv-ex said in its monthly Cellar Watch market report.

The current price for Pavie 2008 is 54 percent up from the 1,040 pounds at which it traded on Liv-ex in August 2009, when it was first released to the market.

Pavie, an estate on the right bank of the Dordogne, was acquired by Gerard and Chantal Perse in 1998 and has about 37 hectares (91 acres), predominantly planted with Merlot along with some Cabernet Franc and Cabernet Sauvignon.

The 2008 Pavie was awarded 95 points on his 100-point scoring system by U.S. critic Robert Parker, lagging at least four other vintages from the estate in the past eight years. The wine is still the estate’s second-cheapest vintage of the past five years, according to merchant data compiled by Liv-ex.

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