The Liv-ex DRC Index continues to hit new highs. The index, which tracks the performance of DRC's leading Crus, consistently outperformed the Liv-ex Fine Wine 100 during the second half of 2011. Burgundy prices remained buoyant in January and the benchmark closed at 371.55 on the 31st – up 0.92 per cent month on month and 37.61 per cent year on year.
The Burgundy 2010 campaign has no doubt played a role in the region's success. To a greater extent, however, top brands, such as DRC and Comte Vogue, have benefited from the general broadening of the market.
Lafite has seemingly lost its sparkle in Asia and buyers are turning instead to rare wines from Burgundy. In response to this, a Christie's auction in Hong Kong last weekend offered wines from the private cellar of producer Henri Jayer. The auction sold 100 per cent of its lots for £5.4 million, more than three times its pre-sale estimate. Several lots achieved spectacular results, including a case of Vosne Romanee Cros Parantoux 1985, which sold for more than £167,000. As with the Sotheby's Lafite sale in 2010, this demonstrates that – for the auction market – provenance is all-important.