Bordeaux demand wanes
Even the discounts offered by Bordeaux estates on 2012s relative to preceding 3 vintages, failed to revive demand for Bordeaux. China has been clamping down on gift giving and a muted collector appetite has hit the Bordeaux market hard. The Liv-Ex Fine Wine 50 Index showed top Bordeaux wines declined 3% last year after a 10% slump in 2012 and a 17% drop in 2011.
Collectors shunned Medoc first-growth wines and sought out other areas such a Burgundy, Italy and California. Could Bordeaux now be seen as a Bear market by investors? (A prolonged period in which investment prices fall, accompanied by widespread pessimism.)