Tuesday, 11 September 2012

Saint Emilion Pricing and classification,

After the re newed classification of the Saint Emilion classification there has been a few quiet adjustments to wine collections and portfolios.
The 2012 classification is actually in line with the pricing rather than being a major change, which influences the market.
This is in contrast to when Robert Parker regraded the 2009 vintage in March this year there was dramatic price movement and some Chateaux added €500 per case overnight on the secondary trading market. Robert Parker graded 19 Chateaux a maximum 100 points.
In effect the market has already factored in the quality of the upgraded Saint Emilion wines and the promotions and movements are simply rubber stamped.
This chart below is from the Liv-Ex blog: 







Re-classification

 *Average price for a 12x75cl case in GBP across the 2005-2009 vintages.

So the question is.....where is the value?
I like the style and quality (and price) of Chateau Figeac. I also think that Chateau Canon are undervalued, having had enormous investment from the Wertheimer family (owners of Chanel).
Ausone is a great wine, however I think the price here reflects the scarcity more than anything else., so not much real value. LVMH, the owners of Cheval Blanc have just spent €15 million on their new wine cellars, and they have expanded their vineyard areas and maintained their high price.

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