The last six weeks have seen prices for the 2008 First Growths surge – significantly outperforming the Liv-ex Claret Chip Index (with an average rise of 20% compared to 10%).
With the 2009s expected to release upwards of €400 per
bottle, the 2008s were (and still are) looking strong value. To add fuel to the 2008 fire, Parker recently reaffirmed his original enthusiastic thoughts (all five wines were given score ranges of 95+) in his newsletter. He stated the vintage has “some very strong wines, particularly from the top properties in the Médoc… given what will be the enormous hype machine buttressing the 2009 campaign, 2008 is a vintage that smart money will seek out.”
Lafite moved past £6,000 per case earlier this week (up from £4,900 at the end of February) and both Mouton and Margaux have now hit £3,000 per case (up from £2,700 and £2,100 respectively). Similarly, Latour remains well bid at £4,000 a case (up from £3,300).
Lafite’s move started last year, but the rest (Margaux in particular) have only recently started to pick up momentum. In contrast, Haut Brion's price continues to meander, although unlike its four peers its price in February (£2,000 per case) was not significantly out of step with recent vintages (bar the 2000 and 2005).
Below is a chart plotting the percentage price movement for each wine from the end of February to 20 April, along with the average move for the Liv-ex Claret Chip Index.