Lafite wine bubble bursting
Another sign of China monetary tightening’s impact-The fall in price of Lafite wine which is a favourite buy by the Chinese.
LAFITE ’08 DOWN 45% AS FINE WINE PRICES PLUMMET
According to Liv-ex, prices of the 100 top-traded wines fell by an average 22.5% between June and December last year(2011) – the steepest fall since the beginning of the recession nearly four years ago.
Lafite ‘08 peaked in January 2011 at £14,043 a case, but was trading this month at £8,108, while Lafite 2009 has dropped 28% in value in the last six months, from £13,831 a case in July 2011 to £9,800 in December 2011.
Year to date prices for Lafite 2008 were already down 26% last August with the wine proving the worst performer in terms of price of the last 10 physical vintages from the estate.
Entry filed under: Watch your step.