Bordeaux's Lafite is liquid gold

By: Chris Mercer - 4 January 2011 16:32

A trusty bottle of Lafite would have earned you a better return than a block of solid gold in 2010, according to the Bordeaux fine wine exchange, Live-ex.

The value of the Live-ex Fine Wine 50 index, which charts the value of top wines from Bordeaux's Medoc region across ten different vintages, rose by 57% in 2010 and has nearly doubled in two years.

Bottles of Lafite Rothschild are leading the parade, particularly among a new wave of Asian investors apparently keen to strut their wealth like peacocks on viagra.

Live-ex said last week that its index has put gold in the shade in 2010. The value of the precious metal only rose by 35% last year.

That said, gold remains twice as valuable - at close to GBP900 (US$1,400) per ounce at today's count - and there's not quite the same temptation to consume it.