Liv-ex creates new 1855 Classification
By Adam Lechmere 2009-3-10 12:57:36
Liv-ex, the fine wine exchange, has re-calculated the 1855 classification according to price ?and there's a new wine in the First Growths.
The new Liv-ex classification has Mission Haut Brion joining the first growths and Lynch Bages climbing to 2nd growth.
Highly-regarded Chateau Palmer, at present a 3rd growth, moves up to the top of the Seconds.
The listing was put together using Medoc and Pessac Leognan wines with a minimum production of 2000 cases. The original classification used only 61 wines from the Medoc.
The wines were then split into growths according to price band, as the original 1855 listing did.
First growths were wines at £2000 per case and above, 2nd growths £500 to £2000, 3rds £300-£500, 4ths £250-£500 and 5ths £200-£250.
Liv-ex worked out the listing by calculating the average case price for every qualifying wine for the past five years, 2003-2007. Prices are as of 31 December 2008.
Various anomalies were thrown up ?particularly in the case of the second wines ?many of which would have made it into the list had they been included.
Liv-ex research manager Jack Hibberd said, 'The second wines of the great chateaux are a complicating factor. They obviously didn't exist in 1855, so we decided to classify each property on the basis of their first wine.
'It's interesting to note that if they were included as separate chateaux, 12 would make the cut, with Carruades de Lafite and Forts de Latour reaching the level of second growths.'
Director James Miles said, 'Our aim, in essence, was to create the classification that would have been drawn up if today's prices were those prevalent 154 years ago.'
The new Liv-ex classification has Mission Haut Brion joining the first growths and Lynch Bages climbing to 2nd growth.
Highly-regarded Chateau Palmer, at present a 3rd growth, moves up to the top of the Seconds.
The listing was put together using Medoc and Pessac Leognan wines with a minimum production of 2000 cases. The original classification used only 61 wines from the Medoc.
The wines were then split into growths according to price band, as the original 1855 listing did.
First growths were wines at £2000 per case and above, 2nd growths £500 to £2000, 3rds £300-£500, 4ths £250-£500 and 5ths £200-£250.
Liv-ex worked out the listing by calculating the average case price for every qualifying wine for the past five years, 2003-2007. Prices are as of 31 December 2008.
Various anomalies were thrown up ?particularly in the case of the second wines ?many of which would have made it into the list had they been included.
Liv-ex research manager Jack Hibberd said, 'The second wines of the great chateaux are a complicating factor. They obviously didn't exist in 1855, so we decided to classify each property on the basis of their first wine.
'It's interesting to note that if they were included as separate chateaux, 12 would make the cut, with Carruades de Lafite and Forts de Latour reaching the level of second growths.'
Director James Miles said, 'Our aim, in essence, was to create the classification that would have been drawn up if today's prices were those prevalent 154 years ago.'
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