A waiter is pouring generous rations of wine in the private dining salon of Chateau Margaux on the left bank of the Gironde estuary in southwestern France. Baccarat crystal schooners are filled to the brim with one of the world’s rarest liquid investments. The costly history of downing Chateau Margaux unfolds.
A case of 1996 Chateau Margaux, a Bordeaux first-growth wine estate, sold for 4,600 pounds ($7,060) on the Liv-ex market, a six-month low and down 7 percent from its high for this year as demand weakened.
Three cases of 2008 Chateau Margaux, a first-growth wine estate in the Medoc region north of Bordeaux, sold for 2,850 pounds ($4,680) each on Liv-ex in the past week, taking the vintage to a 13-month low amid selling pressure on the region’s top wines.
A 10 percent price cut on the 2013 vintage from both Chateau Haut-Brion and Chateau Margaux this week followed reductions from rival first-growths Chateau Lafite Rothschild and Chateau Mouton Rothschild as top Bordeaux estates tested market demand.