Carruades de Lafite was quite likely the talk of the table at last night's Commanderie de Bordeaux dinner in Hong Kong. The 2011 was released yesterday evening at €108 per bottle ex-negociant. With an opening price of £1,290 per case in London, it is around £660 cheaper than the 2010 and less than half the price of most other recent vintages. Visit the Liv-ex En Primeur Pages for the latest Bordeaux 2011 prices and scores. 

In 2004 (before Lafite became the label of choice in Asia) the average ratio of Lafite to Carruades was 5:1. But by July 2011, the rise of the First Growths' second wines had reduced this ratio to 3:1. The price relationship between the wines has changed very little in the last ten months. Nonetheless, the pricing of Carruades 2011 (£1,290) and Lafite 2011 (£5,200) is an interesting move back towards the historical average. 

Initial reports suggest that Carruades is selling through. But with the trade (and many of their Asian-based customers) preoccupied with Vinexpo this week, demand has yet to spill over onto the secondary market.