At the peak of the market, Lafite occasionally accounted for over half of all weekly Liv-ex trade by value. This is in stark contrast to its 2014 levels: its weekly share has fallen below 10% 11 times this year, more than in the whole of 2013. And prices continue to drop. Brand Lafite has taken a significant hit.
But there are pockets of interest. One of these is Lafite 1998, which two years ago was trading for £5,200 per 12x75. This week it traded for £5,300. With 98 points from Robert Parker and having reached its drinking window, this is one Lafite that has held steady over the last two years.
Another Lafite that has piqued the market’s interest is the 2011: the cheapest physical Lafite available. A flurry of activity has resulted in the vintage accounting for 28% of all Lafite trade in July. At 23% below the next recent cheapest physical vintage (the 2006) buyers are seemingly keen at £3,500 a case: a level which would appear to represent value for them.
While Lafite does not look likely to regain the following that it had at the peak of the market, what these two vintages would suggest is that it has not fallen completely out of favour – and is, perhaps, starting to catch the eye of some.