L’Evangile 2010 Falls to Lowest Level Since Release on Liv-ExGuy Collins
Thirty bottles of the 2010 wine of Chateau L’Evangile, in the Pomerol region of Bordeaux, sold for 1,700 pounds ($2,750) a case on London’s Liv-ex this week, the lowest level since it started trading in June 2011.
The transaction on Oct. 22, involving bottles packed as five half-cases, was priced 19 percent below this year’s high of 2,100 pounds in May and down from levels of between 2,067 pounds and 2,306 pounds a case in June 2011, soon after its release to the market, according to data on Liv-ex’s Cellar Watch website.
The 26 percent drop in the 2010 vintage of L’Evangile from its June 2011 peak is less than the 31 percent decline in the Liv-ex Fine Wine 50 Index over the same period. Bordeaux wines traded in London have generally slipped in the past seven months, reflecting investor appetite for greater diversity in their holdings as well as a sterling rally since July.
“Demand is low but downside is probably limited and we continue to await the elusive recovery,” Will Beck, partner of London-based Wine Asset Managers LLP, said in a market report. The fund has $20 million under management.
The 2010 L’Evangile is among the estate’s four most expensive of the past 15 years, lagging behind the 2009 and 2000 vintages and level with the 2005, according to merchant data compiled by Liv-ex. It was rated 98+ on a 100-point scale by U.S. critic Robert Parker, the vineyard’s highest-ranked vintage of the past 10 years after the 2009, which scored a perfect 100.
The estate, on the right bank of the Dordogne, traces its history back to the mid-eighteenth century. It was acquired in 1990 by Domaines Barons de Rothschild (Lafite), which also owns Chateau Lafite Rothschild and neighboring Chateau Duhart-Milon in Pauillac as well as Chateau Rieussec in Sauternes and vineyards in southern France, Chile and Argentina.
L’Evangile’s vineyards cover 16 hectares (40 acres) in Pomerol, close to Chateau Petrus and Chateau Cheval Blanc, and the wine consists of 80 percent to 90 percent Merlot and the remainder Cabernet Franc. It also produces a second wine, Blason de l’Evangile.