LONDON, Feb 12 — A case of 2009 Chateau Cos d’Estournel, a second-growth Saint-Estephe estate, fetched 2,000 pounds ($3,280) on Liv-ex, falling back to the three-year low set in December and January amid declining Bordeaux demand.

The trade on Feb 7 followed six cases selling for the same amount in the past two months, five on Dec 18 and one on Jan 20, according to data on Liv-ex’s Cellar Watch website. The vintage traded as high as £2,125 (RM11,635) a case on two occasions since mid-December.

The Liv-ex Fine Wine 50 Index dropped 0.8 per cent in January after falling 3 per cent last year, 10 per cent in 2012 and 17 per cent in 2011. Muted investor demand for top Bordeaux has reduced the proportion of first-growth wines traded on the Liv-ex exchange and is weighing on other leading estates.

“Bordeaux is relatively subdued,” Miles Davis, a partner at London-based Wine Asset Managers LLP, said in a market blog. “Despite the undoubted quality, the very young 2009 and 2010 vintages still look to be overpriced and under pressure.”

Cos d’Estournel 2009 has dropped 43 per cent from its peak of £3,500 a case on Liv-ex in March 2012, and is within 3 per cent of its record low of £1,957 a case reached in December 2010.

Perfect 100

The 2009 vintage is the most expensive Cos d’Estournel of the past 30 years, followed by the 1990 and the 2010, according to merchant data collated by Liv-ex.

The 2009 Cos d’Estournel was given a perfect 100-point rating by US wine critic Robert Parker in an online tasting note in February 2012, making it the highest-rated produced by the estate on that scale. Other leading vintages of the past decade included 2005 and 2003, both with 98 points, and 2010 with a 97+ rating.

Cos d’Estournel is located in Saint-Estephe, north of close neighbour Chateau Lafite Rothschild, and was designated a second- growth estate in the classification drawn up for Napoleon III’s 1855 Paris Exhibition, which remains in force throughout the Medoc region. — Bloomberg