With 11 years of trading history and ten years in bottle, the Bordeaux 2000s provide us with
a rich data set (and exceptional drinking). With prices for most Bordeaux wines having dropped dramatically over the past 12 months, it seemed worthwhile to see how this vintage in particular had fared. As we highlighted in the latest Cellar Watch Market Report (members of Cellar Watch can log in to
read it here) there has been significant divergence in performance of Bordeaux wines in recent months. The 2000 vintage proves no exception.
The below table looks at the 2000s within the components of
the Bordeaux 500: The First Wine 50, the Second Wine 50, the Sauternes 50, the
Right Bank 50, the Right Bank 100 and the Left Bank 200. As the table shows, the
Right Bank 50 wines have dropped back the furthest in price, with October 2012
marking the cheapest that Ausone 2000 (LWIN 10062052000)
and Cheval Blanc 2000 (LWIN 10081082000)
have been since early 2007. Pin 2000 (LWIN 10141922000),
also, is at the cheapest price it has been for nearly three years.
Yet other Right Bank wines have risen in 2012. Four of the
ten Right Bank 100 wines from the 2000 vintage reached a new price record last
month. Four others were cheaper than their October 2012 price earlier this year.
Indeed, 21 of the 50 wines below have risen beyond their early-2012 prices in
October – or indeed reached a new price record in that month – indicating
points of recovery within the market.
But the value from the 2000s is to be found in the First
Growths. Having peaked in 2011, they are all at the lowest prices they have
been for two or three years, with an average 31.5% difference between their
peak and current prices.