The Mouton 2008 is a vintage with a striking price history, as shown in the chart below. When the 08s were released in bottle, both Lafite and Mouton sought to capitalise on the auspiciousness of the number eight for the Chinese. It was Mouton’s decision to award the designing of the 2008 label to a Chinese artist. Released in October 2010 and originally trading at £4,100, the wine doubled in price within two months, with trades on Liv-ex at highs of £8,300 by that December.

As the market has fallen, so has Mouton. The decline was not so abrupt, and it has taken over a year and a half for the vintage to settle back to its original price.

The last week has seen three trades on Liv-ex at £3,800, just a few hundred shy of its cost in October 2010. Are these buyers now back into the market for Mouton 08 for what's in the bottle, rather than what's on it?