Market forces


The above chart shows the percentage difference between the
London release price of the 2012s and the current market price for their
cheapest vintage available. For just over a third of wines, the 2012 is the
most affordable on the market. For the rest, earlier vintages can be bought for

Secondary market trade at or above the release price has
been heavily concentrated in those chateaux that took note of current trading
in back vintages, and dropped prices accordingly. This strategy has paid