木桐2000：似公羊突破重围的趋势

Last month we reported that Mouton 2000 was?nearing its record high?of ?10,400 per 12×75. In the last week it has traded for ?10,500, setting a new record.

This increase is interesting in the current market, where First Growth prices continue to fall (yesterday the Liv-ex 50 closed on 293.85, its lowest level for the year). As shown in the chart below, Mouton 2000’s fortune is both at odds with the Liv-ex 50 index and with other 2000s – while Lafite has followed a similar trajectory to the Liv-ex 50, Mouton has been rising since October 2012.

Lafite 2000 may be the more expensive wine, but its premium has fallen dramatically: once 133% more expensive than Mouton 2000, the price difference is now just 28%. Neither of these prices reflects the quality of the wine according to Parker – indeed, of the First Growths, Mouton is the lowest scoring 2000; Lafite, the third.? Brand Mouton in general is resisting underlying market conditions – its prices are largely flat on the year – but Mouton 2000 is another story entirely. The black and gold label clearly holds great appeal to some. Is it conceivable that Mouton 2000 is set to become the most expensive of the Firsts?