The success of the 2009s over the last few months has overshadowed
other trading activity on Liv-ex, but interest is turning to another great Bordeaux
vintage: the 2005 (which James Suckling ranked as his third favourite
Bordeaux back vintage). This week on Liv-ex it accounted for 37% of all
Bordeaux trade by value. First Growth Mouton Rothschild (LWIN 1013544)
and top Right Bank Cheval Blanc (LWIN
1008108) helped make up the numbers, with the 2005 also trading for
Carruades Lafite (LWIN 1007840),
Leoville Las Cases (LWIN 1012374),
Pavie (LWIN 1013850)
and Montrose (LWIN 1013296) (as
a reminder, you can win a magnum of Montrose 2003 in our Cellar Watch competition).
As seen from the charts below (taken from Cellar
Watch), over the last six years both Mouton and Cheval have dropped back to
the prices at which they first hit the market. Originally trading for £3,200
per 12×75 in June 2006, the 95 point Mouton last traded for £3,680 per 12×75 on
Liv-ex. Having reached in excess of £6,000 at its peak, and considering that
Suckling advised that 2012 was the year to drink it, it is no wonder the buyers
have honed in.
Cheval’s price history follows a similar trajectory. Released
at £4,300 to great acclaim, its prices rocketed in anticipation of Parker’s in-bottle
scores – but failed to hold when he didn’t award the wine 100 points. In his interview
earlier this year with Liv-ex, Parker acknowledged that ‘there is tremendous sentiment about 2005, which many writers rated
slightly better than I did. I was originally worried about the tannin levels in
2005, but the wines are so concentrated I think they will be just fine’.
With all its trades in the last week at
£4,050 per 12×75, this is another 2005 whose merit and affordability is
catching the buyers’ attention.