The most revered (and expensive) Bordeaux wines comprise the five “first growths”: Lafite-Rothschild, Margaux, Latour, Haut-Brion and Mouton-Rothschild as well as other top-level investment calibre wines such as Petrus and Cheval Blanc.

If you’re buying wine as an investment, it is advisable to consult a reputable advisory company. But here’s a brief summary of some of the best recent vintages of the Bordeaux sub-regions that would have historically yielded good returns:

1. 1982: Considered an “exceptional” vintage. Go for wines from St. Julien/Pauillac or Pomerol sub-regions.

2. 2005: Considered by many the vintage of a lifetime across all of Bordeaux, although Robert Parker’s scores do not necessarilty reflect that.

3. 1986: All regions had good yields.

4. 2000: St. Julien/Pauillac, Graves and St. Emillion should be considered, then Margaux and Pomerol. This was one of the best vintages in the last decade and while ready to be drunk, can improve further.

5. 2009: Three massive questions will dominate this springs Bordeaux en primeur campaign: will this turn out to be the spectacular vintage that most are predicting? With increased demand from the far East confirmed, will the Bordeaux negociants (those who set pricing) use this as an opportunity to hugely increase release prices after 2008’s (mostly sensible) pricing structure? Finally (and probably most importantly): what will the hugely influential Robert Parker think?

Generally, even among the best vintages, the prices of individual wines will rise at a different rate. Furthermore, even within a single wine, price will generally vary a great deal across vintages…

One fact remains true – the longer one is able to hold onto one’s selections, the greater the chance of a good return; most Bordeaux wines are constructed in such a way as to improve greatly over a period of time, usually up to 50 years.

Now that the harvest had been completed and there’s just three months to go before the 2009 en primeur will be available, interest in this vintage is considerable. It is the considered view of the experts that if a vintage’s en primeur receives a good review, the earlier vintages should also pick up both sales as well as price increases. With everyone predicting that 2009 would be an exceptional vintage, the canny investor would need to consider investing in the 2009 en primeur.

Buying en primeur wines is similar to trading in futures, the wine being purchased at a predetermined rate from the producer at the time the grapes are harvested and taking delivery of it when it is bottled, usually two or three years later. In effect, the investor is able to get the vintage at its cheapest. A favourable rating by the likes of Robert Parker and Jancis Robinson, among others, could see prices surge as the vintage comes into the market. Though it is not unusual for wines sold en primeur to sometimes be available later for a significantly lower price, the demand for the Big Five of Lafite Rothschild, Latour, Margaux, Haut Brion and Mouton Rothschild reduces this risk considerably, assuming that initial prices aren’t set too highly of course!

Investing in en primeur has the advantage of ensuring the wine’s provenance, since the wine is bought early on in its lifetime and without a long chain of ownership. Add to that the fact that obtaining wines en primeur may be easier than trying to get the same vintage a few years later when one might face the twin issues of higher prices coupled with less stocks available.

As always, prudence requires that the fine wine investment is made through a reputable and reliable distributor in order to be sure that he is getting the real thing rather than counterfeit goods.

Global fine wine investment turnover is now over £1.8 billion a year, much of this due to increased demand from the newly rich Asian markets, particularly China. Thanks to the greater transparency in trading due to online exchanges, especially the Liv-ex Fine Wine Exchange, there has been an increase in the number of new entrants into the investment scenario. In December 2009, the Liv-ex 100 had risen by 14.7% over the previous 11 months.

With limited and diminishing supplies coupled with increasing demand, the year saw a decent rise in fine wine prices. As usual, Bordeaux led the way, with Chateau Lafite seeing a price increase of more than 50%.

The outlook for 2010 appears attractive on three counts: firstly, new investors in Asia are continuing to fuel demand for premium wines. Secondly, with the slow but steady turnaround in the economies of the U.S. and Europe, demand is picking up again. Thirdly, more people are drinking wine more regularly these days than ‘harder’ drinks. In the UK, average annual wine consumption is now estimated to be 30 bottles per person.

Will returns on fine wines in 2010 beat the 15% (Liv-ex 100) achieved in 2009? Thanks to the very favourable growing conditions, the 2009 vintage itself is expected to be a great one – so we shall see…

In the rush to find a safer alternative asset class, it is wise to consider the following points before you place your hard earned funds:

Not all wines appreciate in value. Only the top wines of each vintage can yield good returns. Bordeaux wines make up more than 70 percent of the fine wines market.
Consider the wine’s rating/score. A high rating/score from influential wine critics, such as Mr. Robert Parker or Ms. Jancis Robinson, could create a demand for that vintage with the inevitable rise in prices.

Keep an eye on price trends. In general fine wine prices rise but some wines do see a fall in demand. In a given vintage, different labels could see a different rate of price increase. For instance, a 2005 Lafite may appreciate at a different rate from a 2005 Mouton. Even within a label, demand will vary. For instance, demand for a 2005 Lafite is greater than the demand for a 2007 Lafite. The fine wine investment market consists mostly of Bordeaux vintages which have, over time, earned their reputation as quality wines that improve with age. Ensure that you only select the best Bordeaux from the best vintages.

Beware of fake wines! Experts believe that around 5 percent of the fine wines available are just plonk in original bottles. Buying from a reputed distributor could save you a lot of trouble.

As referenced in an earlier update, in 1985 a single bottle of 1787 Chateau Lafite wine was sold for an astonishing £105,000.

That was for a wine that could no longer be consumed, having been kept for over 200 years whereas the normal maturity time is 50 years after which the wine becomes more or less expensive vinegar.

While not all Bordeaux wines would fetch such an astronomical price, most First Growths from the region command a price that is out of the range of the average middle-class wine lover. There are many reasons for Bordeaux fine wines commanding such incredible prices, but let’s take a look at some important factors:

The Bordeaux region in France is ideal for growing the best quality grapes that yield the highest concentration of flavours and aromas. Combine that with their centuries of experience in grape cultivation and you understand why the vineyards are special.

Their wine-making skills have been honed over the years, enabling wine producers to get the best out of each year’s vintage, even a bad one. Add to that their use of better tools and equipment including the best oak barrels, premium glass bottles and cork for bottling them.

Then there’s the aging of the wine: most Bordeaux wines taste better when they’re allowed to age over a period of time, usually up to 50 years.

There’s also their relative scarcity. Only a limited quantity of a vintage can be produced. Each time a wine connoisseur opens a bottle of Lafite or Mouton Rothschild, there’s one less bottle available for the rest of the world.

Finally, more people, mainly the nouveau riche Asians, are discovering the pleasures of drinking wine – so as demand increases we are seeing prices rise.

The 2005 vintage, frequently heralded as the vintage of a lifetime, yielded an astonishing 27 wines that received a 100 point rating. No other vintage has done as well, before or since.

The next best vintages were the 1990 and the 2000, both with an impressive 21 wines that scored a ‘perfect’ 100. The 2001 and 2003 vintages included 18 and 17 ‘perfect’ wines, respectively. In fact, the first five years of the 21st Century have been quite bountiful in terms of 100 point wines, with 2002 producing 12 and 2004 producing 9. 2006 was a less remarkable year, with only 4 wines achieving the prized rating. And as of yet, none of the wines from the 2007 or 2008 vintages have a ‘perfect’ score.
Furthermore, most of the years of the 20th Century, with the exception of the 1990 and 1998, did not produce 100 point wines. Even the 1986 vintage, touted as an excellent one, had only 2 wines that were scored as ‘perfect’ – several years passed without a single 100 point wine.

It is no coincidence that these wines command fabulous prices. You can expect to pay over £47,000 for a Chateau d’Yquem Sauternes 1811 vintage. Another Chateau d’Yquem Sauternes, the 1947 vintage, can be found for a little under £39,000. Furthermore, of the top ten most expensive ‘perfect’ wines, as many as seven come from the stable of Chateau d’Yquem Sauternes.

While there are expensive wines that are not necessarily ‘perfect’ ones, there is no 100 point wine that is inexpensive – if you are going to invest in wines, these would make prudent selections for a high-end portfolio.

Liv-ex
This Fine Wine Exchange is the leading market place for a network of fine wine investment professionals around the world. An electronic trading platform which provides excellent access to a trusted source of financial information about the wine market, it can also offer non-professionals various packages of information. It can be used by both wine merchants and professional traders or those who just want to keep track of the value of their cellar.

Decanter Magazine
Online version of noted British wine magazine that contains everything you need to know about good wine. It includes a database of over 20,000 wines from around the world, a ‘learn about wine’ tool with and all the information you need to know about wine courses, a wine auction price tracker, the ultimate guide to vintage wines and a wine forum.

Robert Parker’s Wine Advocate
This is the Independent Consumer’s Guide to Fine Wines by the most influential wine critic in the world. You can explore a database of over 135,000 wine tasting notes and read reviews and articles by some of the world’s top wine experts. ‘My Wines’ launching later this year will provide a unique set of tools for acquiring wine, managing a wine cellar and interacting with a community of wine lovers from around the world.

Vinotheque Ltd
A massively constructed 19th century grade II listed industrial building in Burton-upon-Trent houses the Vinotheque wine cellars. It offers the perfect environment for the long term cellarage of fine and maturing wine. London City Bond’s market leading systems have been extended to enable Vinotheque’s 4,500+ private customers to have full visibility of their stock over the internet at all times, as well as giving the ability to make and monitor orders online too.

Wine Spectator Magazine
The definitive wine magazine for wine connoisseurs containing just about everything you ever wanted to know about wine. With full access to a 218,000 strong wine rating database, all the latest news and tasting reports and learning everything about wine from tasting like a pro to buying strategies to storing and serving. And for the wine collectors, search an auction database, which tracks prices and performance for more than 12,000 of the world’s most collectable and cellar-worthy wines.

Wine Library TV
WLTV is a fully-fledged community run by fine wine and social media guru Gary Vaynerchuk. The viewers (self-named “Vayniacs”) convene on an extremely active forum, and have organized numerous off-line gatherings. He has up to 80,000 visitors a day. Gary and the viewers have teamed up with Crushpad in the past year to create the first ever community wine, Vayniac Cabernet.

Zachys Wine Auctions
Zachys is a purveyor of fine and rare wines with an ever-expanding worldwide auction market. As well as an auction division, (hosting 9 or 10 auctions a year worldwide) it also hosts an online retail store and has become the nation’s largest and most powerful retailer of fine Bordeaux. It also offers a private storage service. Its website offers thousands of selections of wine complete with label images and tasting notes and an inventory system that updates constantly.

Christie’s
The world’s leading art business offers fine wine auctions featuring vintage port and rare collections of bottles in parcels in which you can view, register and bid for online.

Sotheby’s
Sotheby’s wine department offers both auction and private sales specialising in offering the finest wine cellars in the world. Auctions are held in London, New York and Hong Kong featuring fine and rare wines for both current drinking and cellaring. If you are nterested in selling your wine, a detailed evaluation of your entire collection will be provided, along with a proposal of how to maximize the value of your wines and complimentary storage until sale. They also offer cellar management, recommendations on wines for investment and for current drinking.

Bonhams
Bonhams fine and rare wine specialises in auctions, valuations and appraisals of fine wine. Seven fine wine auctions are held during the year at New Bond Street in London, alongside a number of tutored tastings and events. The website offers online valuations for those thinking of selling, information on forthcoming auction sales and all the latest news and announcements within the wine industry.

Wine Anorak
This online wine magazine is a consumer-focused site giving reliable, interesting wine content, including buying advice, tasting notes, wine travel and featured articles. This site is by wine writer Jamie Goode and is designed to appeal to wine novices as well as long-term wine nuts. It has reviews and articles as well as a blog of vinous interest.

Jancis Robinson
World-renowned wine authority and Master of Wine Jancis Robinson delivers her tasting notes, wine news, intelligent and courteous members’ forum, and fine wine writing aplenty plus exclusive unlimited access to the world’s only online versions of the award-winning classic Oxford Companion to Wine and the sensationally detailed maps of the World Atlas of Wine.

Wine Pages
Online UK wine magazine which includes fine wine tasting notes, recommendations, articles on major wine producing areas, wine sites, visiting wine regions, wine appreciation course and quiz. It provides a very useful round-up of the week’s reviews from the weekend’s papers and some excellent contributors.

The Wine Doctor
Chris Kissack’s medically oriented wine site that includes independent opinions, recommendations, advice and restaurant reviews. The wine advisory tool is a resource packed with information and advice, aimed especially at the beginner, although there should be something of interest to everyone. Most sections concern storing, opening, serving and tasting wine. There is also advice on reading wine labels, as well as one or two articles on winemaking and other technical aspects, also an insight into the beneficial effects of wine on health.

Wine Searcher
This is the world’s number one search engine of wine stores, winery, and wine auction, price lists and catalogues. Up-to-date, with 4,025,433 offers from the price lists of 14,872 wine merchants, all refreshed (on average) three times a week. The site also offers a wealth of information about wine, whether you are a merchant, winery, connoisseur, a consumer, investor, or a wine marketing company.

The Wine Education Service
A specialist wine education company with qualified staff that provide wine courses and tastings in the UK to suit all levels of knowledge and experience, they also offer wine holidays.

Robin Garr’s Wine Lovers’ Page
This is the oldest, largest and most popular independent wine-appreciation site on the worldwide web. It focuses on wine education, value priced wines and wine-food combinations and includes tasting notes archives and active forums with worldwide participation.

Wine Topix
A wine community that helps people learn about wine whether a beginner or an experienced wine enthusiast. From wine tasting to buying wine and from reading wine labels to wine collecting. Comments and/or participation are welcomed in wine discussions within the forum.

Ebacchus
Unbiased wine ratings, reviews, tasting notes, wine labels, and information.

Arblaster and Clarke Wine Tours
Wine tours specialists with 22 years of experience. They offer the widest range of Wine Tours available, including their famous and original Champagne Weekends, a range of Wine Tours in the major vineyard regions of Europe, plus superb wine touring in the New World (destinations for 2010 are California, South Africa, New Zealand and South America for Chile, Argentina and Uruguay). All guided by some of the world’s wine experts.