The Prince of Wales, a talented amateur watercolourist, has been admitted to a pantheon of artistic fame in the illustrious company of Picasso, Dalí and Francis Bacon.

His depiction of golden pines against the azure sky of Cap d’Antibes will not, however, grace the walls of any national gallery or Cork Street dealer. It’s better than that: his work will grace the label of the latest release of Château Mouton Rothschild, probably France’s most prestigious wine.

It is an honour bestowed each year upon the world’s Zeitgeist-defining artists. But the wine world was astonished when the latest choice was revealed for the 2004 vintage, a year regarded as good but not great — much, indeed, like the artist himself.

Yet admission of the Prince to the club has sent prices through the roof as dealers and aficionados scramble to get hold of a case or two. Bottles carrying his work have surpassed the price fetched by the 1964 vintage graced with Henry Moore’s design. Indeed, the Prince is quickly catching up with Picasso and has already overtaken Wassily Kandinsky.

Since the wine world learnt of the news in September, prices have risen 22 per cent, equating to a princely premium of £200 a case. It is expected to retail at £140 a bottle, compared with £100 for a bottle of the 1964. Some 20,000 cases are about to go on sale.

Baroness Philippine de Rothschild, the chairman, struck upon the idea of commissioning the Prince for the 2004 vintage to celebrate 100 years of Anglo-French friendship. But some observers suspect that the move had less to do with the Entente Cordiale, and more to do with the marche mondiale as French winemakers try to escape the malaise blighting their industry with added appeal for the Anglo-Saxon market.

“It’s a very clever ruse, said James Miles, of Liv-Ex, the “stock exchange” of the wine market. “It’s a good wine. But it’s not a blockbuster . . . people will collect it for the label.”

Hervé Berland, the commercial director of Phillipe de Rothschild, told The Times that although the 2004 vintage was expected to be a big seller on the other side of La Manche there had been no hidden motive in commissioning the Prince. “Baroness de Rothschild never thinks in terms of speculation about prices. There’s no such process,” Mr Berland said.

He was also quick to point out that it would be just the drink talking should anyone suggest that a price comparison put the Prince on a par with Picasso.

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