Yesterday on the blog we noted that Lafite has drifted in price since the start of the year (albeit marginally). Has demand for the First Growth's second wine also softened? The chart below shows the price movement of physical vintages of both labels since December 2003.

Lafite vs Carruades 

Despite posting negative returns last month, Carruades has risen in price by 22 per cent in the year to date. Price growth, however, has slowed considerably as this is only half of the figure achieved over the same period last year. With Carruades now trading at First Growth prices, it may be that fewer buyers are prepared to hold stock at these levels.