Three half-cases of Cote Rotie 2009 La Turque Guigal from France’s northern Rhone sold for the highest price in four months on the Liv-ex wine exchange this week as investors focused more outside the core Bordeaux market.
Six bottles of the Rhone vintage fetched the equivalent of 4,182 pounds ($6,460) per 12-bottle case yesterday, while 12 bottles, packed as two half-cases, sold on Aug. 12 for the per-case equivalent of 3,910 pounds, according to data on Liv-ex’s Cellar Watch website. The vintage last traded above 3,900 pounds a case in March.
The Liv-ex Fine Wine 50 Index has risen 3 percent this year, with gains in the 10 weeks to mid-March pared by a drop since then. While the index, a benchmark for top wines from Bordeaux, is heading for its fifth straight month of declines following a muted response to the sales campaign for the region’s 2012 wine futures, appetite persists for older vintages and wines from alternative areas.
“Other regions have benefited from buyers diversifying from Bordeaux,” Liv-ex wrote in its market blog earlier this month. It said Bordeaux first-growth estates last month provided “much of the impetus for the market’s decline.”
Guigal’s 2009 La Turque is the third-most expensive in the past decade, after its 2005 and 2003 wines, according to Cellar Watch data. The wine, made from Syrah grapes, comes from vineyards on the Cote Brune above the town of Ampuis on the Rhone, where Guigal is based.
The 2009 La Turque was awarded a perfect 100-point score by U.S. wine critic Robert Parker, who described it in a December 2012 tasting note as “a remarkably concentrated, profound wine that is built like a skyscraper.”
Domaine Guigal was founded in 1946 in Cote Rotie by Etienne Guigal and has been run since 1961 by his son Marcel and, more recently, grandson Philippe.
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