Over the last 12 months, demand for Mouton '08 and Lafite '08 has surged and receded with equal velocity. The 2008s caught fire at the end of last year after it was revealed that both wines would feature Chinese designs. In a matter of days, heavy speculative buying boosted prices for Lafite 2008 by 45 per cent. Mouton's ascent was equally swift, with the wine climbing from £4,250 per case in October to a peak of £8,300 per case at the end of December.
But concerns over the global economy (compounded by the First Growths' recent fall from favour) have since prompted a market correction. As we highlighted in the October Market Report, both Lafite and Mouton 2008 have retreated to levels last seen a year ago – reflecting a peak-to-trough fall of more than 40 per cent. Ultimately, the wines' Chinese designs have had no sustainable impact on pricing.
