After rallying for nearly two years, the Liv-ex 1000 index – our broadest measure of the market – fell in September. This was the first time that the index closed the month down in 22 months. The Liv-ex 50, which tracks the prices of Bordeaux First Growths, also drifted. It closed September down 0.3%.
As the chart above shows, the five premiers crus have seen rapid price rises in the past two years with Lafite Rothschild leading the pack, up 33.9%. Even the least vigorous, Latour, has made strong gains of 22.3%
However, the momentum has slowed down. The Fine Wine 50 gained 26.7% in 2016; so far in 2017, it is up just 4.2%.
A handful of Lafite Rothschild vintages have continued to perform well. The chateau’s recently physical 2014 vintage has been the highest riser of the Liv-ex 50, up 19.5% since the start of the year. Yet Lafite also contributes the weakest First Growth in terms of price movements: its 2005 vintage has dropped 3.8%.
Still, the story remains positive overall. Just eight out of the 50 wines have fallen in 2017, suggesting that the market for First Growths has taken its foot off the pedal – not switched into reverse.
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