Pavie ’01 Advances to Record $3,020 on Liv-Ex in London

Two cases of 2001 Chateau Pavie, a wine estate promoted in the 2012 Saint-Emilion classification, sold for a record 1,900 pounds ($3,020) each this week on Liv-ex as the grower outperformed a benchmark Bordeaux index.

The trade on Nov. 11 was 2.7 percent up from the 1,850 pounds at which it traded in September and 23 percent up from 1,550 pounds in June, according to data on Liv-ex’s Cellar Watch website.

Pavie prices have risen since its elevation to the ranks of the top four Bordeaux growers in Saint-Emilion in September last year. 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.

“Pavie and Angelus’s promotion to Premier Grand Cru Classe A in the Saint-Emilion re-classification last September led to strong trading and price rises over the year,” Liv-ex said in its market blog.

The 2001 vintage of Pavie has risen 50 percent from a year ago, when it traded at 1,264 pounds a case, and has more than tripled from the 520 pounds at which it sold on Liv-ex in March 2006, before the financial crisis, according to data on Liv-ex’s Cellar Watch website.

The Liv-ex Fine Wine 50 index of Bordeaux wines from the past 10 years has fallen more than 7 percent since mid-March after gains in the first 10 weeks of this year, and is down 0.3 percent since the end of December.

Merlot Grapes

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 2001 Pavie was awarded 96 points by U.S. critic Robert Parker, putting it among the estate’s top seven vintages of the past 12 years, according to data on the website.

The wine ranks as the estate’s ninth-most expensive vintage in the past 15 years, according to merchant data compiled by Liv-ex.

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