Two months have passed since the promotion of Pavie (LWIN 1013850)
and Angelus (LWIN 1006045)
to Premiers
Grands Crus Classés A status
Ostensibly, Pavie has seen the greatest interest from buyers since then. In
October it accounted for 8.8% of Bordeaux trade on Liv-ex by value and 6.3% by
volume, compared to Angelus’ 2.8% by value and 2.1% by volume.

But how has each wine fared by price? The below chart tracks
Liv-ex mid-price movements from August (before the upgrade) to October. It is
immediately striking that only two of the twenty vintages have seen price drops
in those two months, and very slight ones at that. The vast majority have seen
in excess of a 5% increase, and half the wines have risen by 10% since August.

Both wines have evidently benefitted from the upgrade. Nevertheless,
it is clear that Angelus is the wine to have seen the biggest price movement
across the board so far. Its 2000 and 2008 have risen by over a fifth in price
since August (21.7% and 22.3% respectively). The average two-month price
increase for its last ten physical vintages is 11.3%, compared to an 8.4% average
for Pavie. 


For those who are members of the exchange, we currently have
44 live markets for Angelus
(vintages 1989, 1990, 1994–2010) and 18 live markets for Pavie
(vintages 1998-2000 and 2002-2010), in multiple sizes.