Chateau Lafite Rothschild, a wine estate in Bordeaux’s Pauillac region north of the city, cut the price of its 2013 vintage by 14 percent from 2012 following a rain-hit crop and pressure from merchants for cheaper wines.
Bordeaux 2013 wines released so far by leading estates indicate prices running from stable to 17 percent down from comparable 2012 levels, according to data compiled by the London-based Liv-ex wine market.
Chateau Phelan Segur, an estate in Bordeaux’s Saint-Estephe region, will seek to hold prices for its 2013 vintage stable after saying it has produced wine of similar quality to the previous two years with lower yields.
Wine prices for the Bordeaux 2013 vintage are set to be underpinned by declining yields amid pressure from merchants and investment consultants in the U.K. and U.S. for price cuts of 20 percent or more.
Twelve bottles of 2008 Chateau Mouton Rothschild, a Medoc first-growth estate, sold for 2,822 pounds ($4,690) on Liv-ex in the past week, extending the vintage’s slide amid weakening demand for recent Bordeaux wines.
A case of 1999 Chateau Latour, a first-growth wine estate in Bordeaux’s Pauillac district, sold for 3,457 pounds ($5,750) on Liv-ex this week, its lowest level for more than three years amid weakening Bordeaux demand.
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.
A case of 2009 Chateau Lafite Rothschild sold for 6,750 pounds ($10,900) on the Liv-ex market last week, taking the vintage to a record low amid selling pressure on top Bordeaux as investors focus on other regions.
A case of 1998 Chateau Mouton Rothschild, a Medoc first-growth estate, fetched 3,350 pounds ($5,500) on Liv-ex this week as Bordeaux vintages now available for drinking attracted demand in preference to younger wines.