More signs of recovery

One of the key barometers for the health of the wine market is the strength of auction sales. We have become accustomed to lofty figures being returned from the auction rooms in Hong Kong, however, New York and London results over the past twelve months have not provided a great deal of cheer.

However, yesterday’s sale at Christie's posted some very respectable figures. The total value of the sale exceeded £600,000, with almost 92% of lots sold. Highlights included an exceptionally rare case of Henri Jayer’s Vosne Romanee Cros Parantoux 1978, which achieved £36,800 and a case of Latour 1961, which reached £21,850. Both items sold to UK trade. A case of 1982 Lafite Rothschild topped £20,000 and unsurprisingly went to and Asian client. How many of these wines will actually be consumed in the UK, well, we can only guess. Many of the lots will inevitably end up with Asian collectors, but we should not make pejorative comments about the state of our own market – things are looking up!

Up up and away

The Liv-ex 100 recorded its seventh consecutive monthly rise, leaving the index at 234.25, up 1.9% for the month and 14.3% up for the year. Lafite continues to lead the way, but there seems to be renewed interest in Mouton. Could it be the Rothschild link? Who knows, but rumours that this is the new brand to follow in the influential Chinese market are rife. There also seems to be strong demand for La Mission Haut Brion 2005 after its 100 point showing at the Executive Wine Seminars blind tasting in New York.

Outside the Liv-ex 100, there has been some astonishing trading. One case of Clos des Papes 2007 sold for £1150, although whoever bought it must have felt pretty foolish as a case was offered soon after at £1000! Since Robert Parker's remarks about 2007 Southern Rhone, there has been a sharp upturn in demand. Well done to those who bought 2007s en primeur; wines from this red-hot vintage are becoming quite scarce and increasingly expensive to find…