Friday, July 29, 2011

The price of wine

A bottle of Château d’Yquem 1811 was sold to a French restaurant owner in Bali for 85,000 euros! The last record was set by an imperial of Cheval Blanc 1947 for 223,967 euros (in other words, a bit less than 28,000 euros for an equivalent 750 ml)

In 1998 in Sotheby’s, Valandraud also broke a few records. Below a little reminder and comparison during the glorious years for Valandraud (prices listed are in Francs for a bottle except for the 1994)
1991 : Château Valandraud 3534 F/ Château Margaux 322 F / Chateau Lafite Rothschild 232 F
1992 : Château Valandraud 1146 F/ Château Lafite Rothschild 431 F / château Latour 320 F
1993 : Château Valandraud 1445 F / Château Haut Brion 283 F / Château Lafite Rothschild 315 F
1994 : Château Valandraud Imperiale 7416 F / Château L’Evangile 4137 F
1995 : Château Valandraud 1204 F /Château Haut Brion 817 F / Château Lafite Rothschild 763 F
During the same period, friends who had just returned from Japan told me that Valandraud was one of the most expensive wines they saw and that it sold in stores and restaurant for the same price as icons such as Romanée Conti and Pétrus for around 10,000 F.

In 1991 and 2000, Parker felt that Valandraud was too expensive. I don’t know what he thinks of the current price of Valandraud which has, since 2006, dropped off from the peaks and sells at a similar price as super seconds with a small quantity produced: 15,000 bottles in average, compared to Cos d’Estournel, nothing to say. Sold at the same price as Pavie or Angelus, Valandraud still has a “social” status, inherited from the base established by the 1855 classification in Medoc where the price was the reference and explains the whole fuss around the en primeur campaign, a sort of “butterfly” effect coming from the base of the whole classification in Bordeaux (and elsewhere).

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