As Opus One takes all five of the “Major Market Mover” spots in Liv-ex’s June Cellar Watch Report, we ask if this short-term volatility is reflected by sustained performance?
Vintage 2005 took the top spot in May with the market price increasing 18.4%, which accounts for most of the 25.4% increase across the last twelve months that has left its market price at just over SFr 3’400 per case. Do take the opportunity to note that the 2004 was upgraded in April’s Wine Advocate to 96 points and has a market price only just over SFr 3’100 per case, and the 2010 with similar scores is under SFr 2’700.
The 2007 is another strong contender for their highest scoring wine and the mid-price jumped 9.6% in May, although it has seen flat market performance across the last twelve months: the market price remains at just under SFr 3’300 and supports the case for the 2004 and 2010.
In contrast the 2006 is the lowest scoring Opus One in the market since 2004. Last week it made a surprise entry to the high-jump competition, with the market price reportedly climbing 24.1% overnight to pass the SFr 4’000 mark. Does it make sense to be at this price? Probably not, and most likely this will quickly come back down from an isolated data point.
Finally we look ahead to September’s release of 2011. Last year, leading critic Antonio Galloni provided a thorough set of vertical tasting notes HERE, in which he awarded the 2011 a provisional score of 89-92 points, noting that the vintage was again incredibly challenging following the extremely difficult 2010. Certainly it will be worth revisiting the 2011 closer to release.