After a vertiginous run in the last quarter of 2010, the past three months have seen the Liv-ex Fine Wine 50 Index ascend – and descend – at a slower pace. The Index, which tracks the price performance of the last ten physical vintages of the First Growths, zigzagged its way to 437.01 yesterday, reflecting a modest three-month increase of one per cent. Of course, the index does not show the individual performance of each of its composite brands. To do this, we have taken the basket value of the last ten vintages of each First Growth and then ranked the brands according to their quarterly price performance. Their changing fortunes since April 2009 are shown in the chart below.

Premiers Crus performance table 

As you can see (and as readers of the blog will know), Haut Brion has outstripped its peers in recent months and posted the largest returns in the first quarter. The effects of the Sotheby's Lafite Ex-Cellar Auction in Hong Kong in late October can also be seen, as Lafite recovered from its relatively poor performance in the third quarter to end 2010 in first place. Since the start of the year, however, the Premier Cru's prices have remained relatively flat.