Bordeaux first-growth wine estates on the left bank of the Gironde announced prices 60 per cent higher this week for their critically acclaimed 2015 wines as the pace of increases accelerated across the region, according to Liv-ex data.
Chateau Margaux in the Margaux appellation and Chateau Mouton Rothschild in Pauillac both priced their 2015 wine at €384 a bottle, up 60 per cent from the previous year, according to the London-based Liv-ex market. Chateau Haut Brion in Pessac Leognan, on the southern edge of the city, pushed its 2015 price up 60.4 per cent to €385, while Chateau La Mission Haut Brion, under the same ownership, more than doubled in price to €300.
Gains in top-classed estates exceed those of more than 40 per cent for many leading growers the previous week, advances of 32 per cent in early June for other classed growths in the region and price boosts of 19 per cent for those selling in late May. The release of the 2015 wines has drawn selective demand for the higher-rated estates from collectors while also sparking interest in cheaper, older vintages in the secondary market.
“It was an active week for Bordeaux, with the region’s market share by value rising above 85 per cent for the first time since December,” Liv-ex said in its blog. “Buyers seeking value away from the new vintage frequently opted for the 2012, which accounted for almost a third of all Bordeaux trade.”
After three difficult vintages between 2011 and 2013 and a more classic style in 2014, last year’s wines may be the best since the highly rated 2009 and 2010 harvests. A hot June and July were followed by rain in August that helped the vines, and then a sunny harvest. Producers interviewed in Bordeaux and London have said 2015 is the highest-quality vintage in at least five years.
Other estates releasing wines in recent days included Chateau Angelus and Chateau Pavie in Saint Emilion, which both raised their price by 40 per cent to €252 a bottle, according to Liv-ex. The estates were promoted simultaneously to the status of Premier Grand Cru Classe A in the Saint Emilion classification of 2012, putting them among the top four in the appellation.
Chateau Pichon Longueville Comtesse de Lalande in Pauillac boosted its price by 48.1 per cent to €96 a bottle, Chateau Leoville Las Cases in Saint Julien increased 43.8 per cent to €138 and Chateau Montrose in Saint Estephe rose 14.9 per cent to €102, according to Liv-ex. The prices are from Bordeaux merchants for new “en primeur” wines still in the barrel.
Vieux Chateau Certan in Pomerol increased its price by 47.1 percent to €150 while Chateau Pontet Canet in Pauillac, a neighbor of Mouton Rothschild, released a second tranche of its 2015 wine at €88 a bottle, up 33.3 percent from its 2014 price and compared with the €75 at which it sold its first tranche.
News by Bloomberg, edited by Hospitality Ireland