Six months ago Mouton Rothschild 2004 (LWIN 10135442004) was one of the cheapest
First Growths available. In October 2012, just prior to the fine wine market’s
low point, it traded on Liv-ex for £2,300 per 12×75.
When the market turned, buyers were focused on purchasing what they perceived as undervalued wines. Mouton 2004 – a First Growth with several
years in bottle, good critic scores, and available for under £200 per bottle – presented a key opportunity for value.
As seen on the chart below, a steady stream of trades since
October has pushed its price up, and at the end of last month it was trading on
the exchange for £3,150. While the Liv-ex 50 has risen 10% since its low point,
Mouton 2004 has risen 37%. Quite a return in a market perceived to be struggling to find its feet.