Chateau Montrose 2009 Leads Liv-Ex Trading After Estate Releaseby
Bordeaux's share of total trade rises as Burgundy slips
Ornellaia '10, Le Pin 2000 also among leading traded wines
Wines from Chateau Montrose’s 2009 vintage took the largest share of trading by value on the London-based Liv-ex this week after a fresh batch from the Sainte Estephe Bordeaux estate went on sale, according to a market report on the exchange’s blog.
Montrose traded on Liv-ex at 1,830 pounds ($2,611) per 12-bottle case in bond after merchants started offering wine from the new release at 240 euros ($259) a bottle, Liv-ex said. That’s up from about 1,450 pounds where it first traded in 2011 after coming on the physical market, while some 20 percent below the peak reached in March 2012 after a bull run in top Bordeaux, according to Liv-ex data.
Investor and collector attention is beginning to focus back on Bordeaux after a price slump which saw first-growth wines fall 40 percent from their 2011 market peak. It was partly exacerbated by sales campaigns for recent vintages which left wines not yet ready for drinking trading at prices close to more mature stock.
Wine critic Robert Parker gave both the 2009 and 2010 Montrose vintages a perfect 100-point score, rating them the best wines from the estate since 1990. In an August 2014 tasting note on eRobertParker.com, he described the 2009 vintage as having “velvety, sweet tannins and an extremely open-knit and opulent blueberry, blackberry and creme de cassis nose.”
Montrose 2009 is the most expensive vintage from the estate since 1990 currently trading on Liv-ex, ahead of other top years including 2010, 2003, 2000 and 1996, according to Liv-ex data.
Chateau Montrose has been owned since 2006 by Martin and Olivier Bouygues, who run Paris-based construction and media company Bouygues SA. The estate is ranked as a second-growth vineyard in the Bordeaux classification drawn up for Napoleon III’s 1855 Paris Exhibition. That puts it among the top 20 producers in the Medoc region, which is to the north of the city.
Liv-ex said Bordeaux’s share of total trading over the past week rose to 78.6 percent from 75.4 percent the previous week, while Burgundy’s slipped to 5.5 percent from 9.0 percent. Italy accounted for 8.9 percent, down from 9.0 percent.
Other wines leading trading on the exchange this week included Ornellaia 2010 from Italy, with 3.2 percent of share by value, Le Pin 2000 with 2.9 percent and Chateau Cos d’Estournel 2009 with 2.4 percent, according to Liv-ex. Cos d’Estournel is a close neighbor of Montrose, situated between its vineyards and those of Chateau Lafite Rothschild.