French billionaire Francois Pinault, owner of Bordeaux first-growth wine estate Chateau Latour on the left bank of the Gironde estuary, is buying a stake in three vineyards on the right bank, Sud Ouest said.
A case of 1995 Chateau Mouton Rothschild, a Medoc first-growth wine estate, sold for 3,250 pounds ($5,400) on Liv-ex in the past week, consolidating an 18- month rally amid signs of demand for older Bordeaux vintages.
Bordeaux first-growth wines fell to 18 percent of trade by value on the London-based Liv-ex wine market at the end of last month from 66 percent at the peak of the market, according to Liv-ex’s Cellar Watch report.
A case of 2003 Chateau Latour, a Bordeaux first-growth wine estate, sold for 7,350 pounds ($11,190) on Liv-ex, marking a 5 percent gain from this year’s February low while remaining within its 2013 trading range.
A case of Chateau Latour a Pomerol 1961 from the cellar of the Bordeaux estate’s former owner Lily Lacoste-Loubat fetched 103,400 pounds ($167,100) at a Sotheby’s sale for charity, more than double the low estimate.
A case of Chateau Latour 2010 traded for 10,994 pounds ($16,700) on the London-based Liv-ex wine market this week, its highest level for 16 months and part of a broader recovery by top Bordeaux wines, while Chateau Mouton- Rothschild 1998 reached an eight-month high.
A case of 2004 Chateau Latour, a first-growth wine estate in Bordeaux’s Pauillac district north of the city, sold for 3,366 pounds ($5,500) on Liv-ex this week, its lowest level for six months amid weakening Bordeaux demand.
Thirty bottles of 2000 Chateau Latour, a Bordeaux first-growth estate, sold for the equivalent of more than $13,000 a case in four trades on Liv-ex this month, holding stable near the seven-month low it touched in September.