After a slump in prices earlier this year and steady decline throughout much of the 2009 campaign, Bordeaux 2007 is once again on the move. The First Growths drove considerable upward pressure last month, gaining an average of 6.4% on June. Lafite and Mouton saw the strongest demand, rising by 18% and 10% respectively.
Outside the Firsts, movement was somewhat divergent. Our analysis of 24 top chateaux shows that 2007 is currently up an average of 3.5% month-on-month (excluding the Firsts), though this average conceals relatively polarised price movement. A number of chateaux, including Leoville Las Cases and Palmer, continued their rapid descent in July, whilst Haut Bailly and Calon Segur (among others) rose by more than 10% month-on-month.
Of the winners, Duhart Milon (RP 90) saw the greatest gains, rising by 27% in July to £571 per 12x75cl case. The vintage continues to look good value at more than £100 cheaper than both the 2006 (RP 92) and the 2004 (RP 91). Those with an eye on the Premier Crus might want to consider Mouton 2007, which scores 92 points from Robert Parker and is currently trading at £2,500 – £400 cheaper than Latour (RP 92+) and less than half of the price of Lafite (RP 94; £5,300).
The graph below shows the price movement of 24 Bordeaux 2007 vintages from July 2009 to July 2010 (excluding the First Growths). Will 2007 continue to benefit from the recent boost to back vintage trade?
