Lafite sold short by Liv-ex

The 'short-selling' of Chateau Lafite 2009 which has not yet been released by the chateau has divided opinions in the wine trade. Fine wine traders Liv-ex offered the latest vintage of Lafite for £11,750 a case but the actual sale went through for £10,000.

Wine merchants like Sam Gleave of Bordeaux Index and Oliver East of Farr Vintners condemn the selling of a wine that is not yet offered by the chateau as 'reckless' and irresponsible because it encourages the chateaux to increase their prices. But others including Berry Brothers' wine director Simon Staples concede that the move was inevitable but disappointing.

Liv-ex says on its blog that this sort of trading 'would not raise an eyebrow' outside the wine trade and is vital for 'price discovery' in most markets.

Other wines which are not yet released being offered or bidded for on Liv-ex include Chateau Cos d'Estournel, offered at £3,000. There are bids for Chateau Latour at £4,275, Margaux at £3,330, Mouton at £3,200 and Haut Brion at £2,525.