Haut Brion 1989 traded at an all-time high on the Exchange this week at £14,846 per 12×75. The wine has been rated 100 points by Robert Parker on several occasions and was identified as “wine of the vintage” and as one of the “greatest First Growths” Parker ever tasted.
As a brand, Haut Brion has seen its popularity increase significantly since the end of the China-led bull market when Lafite Rothschild dominated the First Growth market. Since the market low in July 2014, the Haut Brion Index – tracking the prices of the last ten physical vintages – is up 15.8%. It is currently the second best performing First Growth behind Mouton Rothschild.
Haut Brion has generally appealed to buyers seeking value. It has the second highest average Wine Advocate score (96 points) and the lowest average market price (£3,704) across the most recent physical vintages of the First Growths. Like the 1989 vintage, the 2005, 2009 and 2010 all scored 100 points, and the upgraded 98-point 2012 vintage was “one of the stars of the vintage”. The 2015 release was awarded 98-100 points by Neal Martin. Indeed, Liv-ex has previously identified Haut Brion as one of the next potential First Growths to take centre stage.
Haut Brion 1989 is undoubtedly an iconic expression of the Haut Brion brand. It is 27 years old and as a result supply is much diminished. As the chart below shows, the wine recently traded on the Exchange above the level it traded at during the peak of the market in 2011. It would seem that we are on the cusp of a breakout…