Lafite Rothschild became the first of the Bordeaux First Growths to release its 2013, which came out today at €288 per bottle ex-negociant. This represents a 14% drop on the 2012’s release price of €335.
As the chart above shows, a UK release price of around £3,200 a case makes the 2013 the cheapest vintage in the market: 24% less than the 2011, which is another early drinking vintage with a similar in-barrel score.
A year ago, Lafite 2012 was also the cheapest vintage available and was one of the first to find a secondary market, but its price has fallen 5% since then. Lafite’s premium over the other First Growths was once 129% but has been in steady decline since and is now at 45%. This premium is reliant upon Chinese demand; the question is whether that demand is still there. Encouragingly, perhaps, there is already a bid on Liv-ex at the opening level.
Visit the Liv-ex En Primeur Pages for comprehensive coverage of 2013 prices, scores and opinions.