The price tag for the Jean-Louis Chave Hermitage 2003 (99 points, $250 release price, $515 current auction price) has already reached $515, in turn putting upward pressure on the prices for older vintages. The Jean-Louis Chave Hermitage 1990 (96 points, $63 release, $623 current) has been particularly strong in terms of price appreciation recently.
After trading in the $300 to $400 range for nearly three years, the wine's value began to take off beginning in the third quarter of 2006. A year later, the wine's value rose 60 percent and reached an average high of $671. Since then the average price has dropped slightly, and while it is not uncommon to see the wine sell in the low $500 range, most multiple bottle sales fall around $600 per bottle.
Now may be the time to pick up this wine, as there are indications from sales abroad that prices may be headed higher in the future. At Acker's recent sale conducted in Hong Kong, a case of Chave Hermitage 1990 sold for $11,495, or $957 a bottle.
|This data comes from the Wine Spectator Auction Index, a composite of average prices for wines sold at commercial auctions. This chart shows the average auction prices of Jean-Louis Chave Hermitage 1990 from 1995 to the second quarter of 2008.|