Cheval Blanc 1998

HK already prefer this wine to almost anywhere else where the greatest volumes (by value) are sold. Volumes ($) of this wine sold at auction are now well down on their highs in 2011 - last year barely 40% of the volume of wines were sold compared to 2011.

The big question is whether Cheval Blanc 1998 will return to its highs? Current top prices are fetched in HK and Chicago - on average approx 8% higher than elsewhere.The wine has generally under-performed the FWAI50 and at around $500/bottle at auction is well off the highs of 2010/11 but, I would argue, doesn't offer much value for money for a drinker compared to, say, 1989 or even 1985. The wine peaked with offers direct from the CB cellar in 2012 and the sale of SK Networks Cellar in 2010 which fed into higher average prices. With the FWAI50 showing some recalcitrance to turn upwards it might be some time before this wine shows any upturn if any - scarcity, however, will be increasingly on its side. The wine's popularity will help it along too. Bottle variation seems a feature but if you're just holding on to it then this will matter less.There are significant premiums associated with larger formats but this is undoubtedly skewed by the large formats turning up in the 2012 sale direct from the CB cellars.

1998 is the 5th most popular vintage of Cheval Blanc 1998 sold at auction - after 1982, 2000, 1990 and 1995. Ahead of: 1989, 2003, 1999 and 2005.

The wine is fairly seasonal - most offers occur in the second half of the year, particularly the last quarter.

This is based on 395 lots at auction with a value of $2.5m up to the beginning of the year (2014).

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