Archive for the 'Wine Prices' Category

Every year, the CIVL (The Conseil Interprofessionel des Vins du Languedoc) organizes the Languedoc Ambassador Wine Tour, a trade and media tasting designed to promote the great diversity and superb quality of AOC wines found in the Languedoc wine region. This year is no exception, with fantastic wines announced today as the official CIVL Ambassador Wines of 2011.

It’s fantastic exposure for an oft-overlooked region.

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Despite downward trends in financial markets in almost every sphere, including fine wine, the value of legendary first-growth Bordeaux, Lafite, has held strong. Not so for other first-growths. While Chateau Latour and Chateau Mouton-Rothschild have been rocky over time, Lafite continues to climb.

According to a piece on Bloomberg.com this week, it’s called “The Lafite Effect”. The historic winery owes it all to the Asian market. The emerging Asian market sees Bordeaux, namely Lafite, as a kind of wine holy grail. As wealth increases there, demand for Lafite skyrockets. In July, the average price for 1982 Lafite for example, was at its highest ever, $3,386, up from 2007 and 2009. And it’s not just the first-growth, their second and fourth wines: Carruades de Lafite and Duhart Milon are in high demand as well.

I know that Bordeaux is highly regarded in Asia. It’s a status symbol. They even have a cartoon (Les Gouttes de Dieu/Kami No Shizuku) devoted to seeking out the best wines in the world (mainly Bordeaux). But how did Lafite gain its position in the sky? And why not any other top Bordeaux?

Moreover, can these prices continue to increase, or will the bubble burst, crashing them, down to a price that even a lowly American can afford?