Yesterday on the blog we noted that the 2008 vintages of the First Growths were among those on the downward slope last week. Having recently been downgraded by Parker, Mouton 2008 in particular has found a new price level, whilst Lafite 2008 is down five per cent month on month. But despite these price adjustments, both wines should still give many investors something to smile about.
As readers of the blog will know, in late 2010, Lafite 2008 and Mouton 2008 increased in value by upwards of 15 per cent overnight. Lafite's run began in October when the chateau announced that the vintage would feature the Chinese figure eight – a symbol of luck and prosperity. Mouton followed its lead a month later after it was revealed that Chinese artist Xu Lei had designed the label for the 2008 vintage. In May, however, the wines' luck ran out when both labels fell foul of Parker. Since then, the two Firsts have retraced their steps. (Mouton 2008 is currently trading on the exchange at £6,500 per case, down from a peak of £8,300, whilst Lafite 2008 last changed hands at £11,250, having surpassed £14,000 in January.) Nonetheless, prices remain considerably higher than they were prior to last year's price surges.
As you can see from the graph below, those who bought Lafite before the figure-eight announcement will have turned a tidy profit of 35 per cent. Mouton has posted similar gains and is up around 40 per cent since October.