Eas-Yquem, easy go
In mid-2014, the Bordeaux market bottomed out after three years of declines. Prices for Yquem, however, kept on sliding. All of the gains that it had made in the previous five years were wiped out.
Now, after this extended period of decline, prices for Yquem have been climbing. The tide turned in May 2016. Between then and the end of the year, the wine’s index gained 8.5%.
This momentum has continued. So far in 2016, the Yquem index is up 8.2%. It has outpaced both the Bordeaux 500 (+4.1%) and Sauternes 50 (+5.3%) indices that include it as a component.
The Yquem index tracks prices of the last ten physical vintages, where the majority of liquidity for the wine currently is. Beyond this, several vintages from the 90s have also been posting impressive gains.
One of these is Yquem 1998. It traded at a record high of £2,000 per 12×75 yesterday. Prices for the wine have been increasing for the past two years, as shown below. Neal Martin awarded the wine 94 points despite calling it “a little unruly” in September 2011.
Today, the 1997 also traded at a high (£2,400) while the 1996 reached record levels (£2,230) earlier in the month.
The 100-point 2001 (RP & NM) Yquem has also been increasing but its recent high (£4,400 this month) is still around 10% off peak.
After several years in the doldrums, sweet-toothed collectors will no doubt be encouraged by this wine’s recent uptick.