The Place de Bordeaux’s 2022 September campaign has seen its third week of releases, with a number of key entries including the likes of Pym Rae 2018, Dalla Valle Maya 2019, and Château Palmer 2012.
The Armagh vineyard in autumn
Following a UK bank holiday on Monday to mark the funeral of Queen Elizabeth II, Tuesday 20th September morning saw several releases in quick succession, starting with Pym Rae 2018, which entered the market at a recommended retail price of £270 per bottle. Tasting at the CVBG Beyond Bordeaux London event earlier this month, Wine Lister’s Founder and CEO, Ella Lister found this vintage to be a real step-up from the Tesserons’ Californian outpost, awarding the 2018 96 points and noting “exceptional balance, the texture of taffeta, and an addictive softness”.
Another standout release, Telmo Rodríguez’s Yjar saw its second ever vintage – 2018 – released through the Place at £95 per bottle (in-bond). Tom Parker (tasting for jancisrobinson.com) awards a score of 17, while Ella scored 96 points, comparing its balance to that of “a ballet dancer, toned and delicate”, noting that it is “the perfect wine for today’s palate”. The 2018 vintage saw a production volume of just 6,000 bottles – a reduction of 1,000 bottles compared with the 2017.
The Armagh Shiraz 2018 was also released on Tuesday at £165 per bottle (in-bond), with Ella awarding 95 points and describing the latest offering from Jim Barry as “rich and opulent” – a vintage “worthy of the 50 years since the first Shiraz was planted at the domaine in 1968”.
Wednesday 21st September saw the release of Le Petit Cheval Blanc 2020, which entered the market at £100 per bottle (in-bond). It was shortly followed by Giovanni Rosso Barolo Ceretta 2018, released at £51 per bottle (in-bond). Walter Speller (for jancisrobinson.com) awards the latter a score of 17++, describing it as “simply gorgeous” and praising its “beautifully sculpted chewy tannins”.
Next up on Wednesday, Dalla Valle Maya 2019 was released at £464 per bottle (in-bond), marking the first vintage produced since the estate committed fully to biodynamic practices. Another first – Château Haut-Batailley introduced its 2016 vintage to the market at £36.67 per bottle (in-bond). A transitional year, the Cazes family acquired the estate shortly before the 2016 primeurs and oversaw blending, while vinification had been carried out by the previous owners (the Borie family) – provoking the decision to withhold its release. The 2016 bottle features a transitional label – neither the previous label under the Borie family, nor the new label under the Cazes family, debuted in 2017. Neal Martin (for Vinous) awards the 2016 94 points, calling it “an outstanding Haut-Batailley”.
Château Palmer released ex-château stock of its 2012 vintage on Thursday 22nd September, the third vintage to be released from the estate’s “Ten years on” series. Since 2010, approximately half of each year’s production has been reserved in the cellars, while the remaining half is sold en primeur. The 2012 vintage was released at £257 per bottle (in-bond), having achieved scores of 17 from Jancis Robinson (for jancisrobinson.com) and 94 from Antonio Galloni (for Vinous).
Also released this week were Cobos 2019 and Clos des Goisses 2013.
Likely to be released next week are Kracher Tba N°5 Grande Cuvee 2019c, Château d’Avize 2012, Morlet Cœur de Vallée 2019, Allegrini Fieramonte 2015, La Poja 2017, and Biserno 2017.
With this year’s September campaign now in full swing, we examine some of the key releases from the second week, including offerings from Château Latour, Bibi Graetz, and Catena Zapata.
The Wine Lister team got the chance to taste a number of wines scheduled for release during this year’s CVBG ‘Beyond Bordeaux’ tasting in London on 8th September 2022
One of the most anticipated releases from this year’s campaign, ex-château stock of Château Latour’s iconic 2010 vintage was released on Tuesday 13th September. Release prices varied, with listings for the latest tranche started from around £1,045 per bottle (in-bond). Tasting twice from magnum in February 2020, Vinous’ Neal Martin awards it a perfect score of 100 points, declaring that the wine “can be summed up in two words: ‘The king’”, while the 2020 earns the wine’s joint-highest WL score (98) alongside the 2005.
Tuesday also saw two releases from Bibi Graetz; Colore 2020, offered by some retailers at £173, was a Wine Lister favourite at the CVBG tasting. Wine Lister’s CEO Ella Lister described it as a “calming, zen wine, with all the confidence, wisdom, and stillness befitting a wine from such ancient vines”, referring to its “neverending finish” and scoring it 98 points. Testamatta 2020 was also released, garnering a score of 95 points from Ella and fetching a price of £68 from retailers.
Released the same day, Joseph Phelps Insignia 2019, has so far seen merchant offers of around £182.50 per bottle (in-bond). Ella scored the wine 97 points and found that it has “the usual power of Insignia, but with a newfound subtlety and sophistication and fine tannins”. This could be down to the record-high proportion (25%) of fruit from Rutherford in 2019 – while the vintage also marks the first to include fruit from the new Joseph Phelps vineyard, El Venadito, located in the Oak Knoll District.
Adrianna Catena pouring her namesake wine for the Wine Lister team at the CVBG ‘Beyond Bordeaux’ tasting in London
Thursday morning saw two entries from the Catena Zapata stable – the 2019 vintages of Nicolás Catena Zapata and the Adrianna Vineyard Mundus Bacillus Terra. Nicolás Catena Zapata entered the market with a recommended UK retail price of £61 per bottle, having achieved a score of 96 points from Joaquin Hidalgo (Vinous). Adrianna Vineyard was released with a UK recommended retail price of £161 per bottle. Tasting in London, Ella awarded it 98 points, praising its “hedonistic bouquet”.
The morning of Friday 16th September marked a new entry to the Place this year – Belles Sœurs Cuvée Pinot Noir 2019 entered the market at £82 per bottle (in-bond). While Beaux Frères and Belles Soeurs 2019 were initially intended to be released together during last year’s campaign, reduced yields as a result of fires instigated the decision to release Beaux Frères 2019 last year and Belles Soeurs 2019 this year. Both cuvées will be released in tandem next year.
The 2013 vintage of Lindaflor La Violeta was also released on Friday 16th September, at £72.50 per bottle (in-bond) – having already been released in the form of a special-edition case alongside the 2011 vintage of its Bordeaux brother, La Violette, in March this year (at £325). Friday’s release marks the first solo introduction of the Parent family’s Mendoza estate through La Place, giving buyers the chance to acquire it in its own right. Tasting in Bordeaux, Ella awarded 93 points and found a nose that is “deep, meaty, with notes of paprika… sparkling, singing, seductive” and a palate of “exquisite freshness […] with a fine but firm structure”.
Also released this week were Penfolds Bin 169 2019, Petrolo Galatrona 2020, Cheval des Andes 2019, Joseph Phelps Cabernet Sauvignon 2019, Siepi 2020, Orma 2020, Caiarossa 2019, and Beaulieu Vineyard Georges de Latour 2019.
Next week’s releases are likely to include Petit Cheval Blanc 2020, Haut Batailley 2016, Cobos 2019, Giovanni Rosso Barolo Cerretta 2018, Pym Rae 2018, Clos des Goisses, and Palmer 2012.
The Place de Bordeaux has welcomed dozens of new wines through its distribution system this year, with new releases expected from Champagnes Barons de Rothschild, Biserno, and Parusso, alongside old favourites such as Caiarossa, Catena Zapata, and Penfolds, among others. As the campaign kicks off, we take a closer look at the first week of entries.
Dawn at Seña vineyard. The Wine Lister team tasted Seña 2020 with the Viñedo Chadwick and Seña team via Zoom last month
Inaugurating this year’s campaign on Thursday 1st September was an offering from Seña, whose 2020 vintage was released at £85.83 per bottle (in-bond). Tasting with Wine Lister on Zoom, the Seña-Chadwick team explained that although 2020 was an unusually warm year in Chile, a wide diurnal range in the vineyards (thanks to its 230 – 460m altitude) made for a long ripening season, allowing the grapes to develop intensity of flavour whilst retaining freshness. The Wine Lister team describes the latest release as opulent, with a complex nose of black fruit, plum and spice; on the palate, its berry intensity is complemented by notes of cigar box and grilled meat.
Quintessa 2019 followed swiftly, and has so far been offered in the UK for £180 per bottle (in-bond). Antonio Galloni (Vinous) awards Quintessa 2019 94 points, calling it “one of the best wines I have tasted here in some time”. Another offering from Rutherford in the Napa Valley, Inglenook Rubicon 2019 was released on Friday 2nd September at £143 per bottle (in-bond).
Released on Monday 5th September, Opus One 2019 entered the market at £252 per bottle (in-bond), with the latest vintage so far receiving acclaim from critics including Antonio Galloni (Vinous), who awards 97 points and writes that “it has all the classicism that is such an Opus One signature” and praises its “sublime finish”. Opus One is one of the top 15 best fine wine brands in the world, according to Wine Lister’s Brand score (as part of our Pro scoring system, see more here) – with high quality in 2020 further cementing this reputation.
Tuesday 6th September saw the latest release from Masseto, whose 2019 vintage (released at £440 per bottle in-bond) was the first to be made entirely in the estate’s new dedicated state-of-the-art winery, as well as the first with 10% Cabernet Franc added to an historically 100% Merlot composition. These changes appear to have yielded positive results, with Vinous’ Antonio Galloni describing Masseto 2020 as “fabulous”, adding that it is “Silky, gracious, and super-refined”.
Vin de Constance 2019 was released on Tuesday 6th September
Following suit on Tuesday 6th September, Vin de Constance 2019 entered the market at £45 per 500ml bottle (in-bond). Achieving its highest Wine Lister score since the 2012 vintage (96), the 2019 is awarded 97 points from Vinous’ Neal Martin, who calls it a “superb Vin de Constance […] a step closer to what you might confusingly call a non-sweet dessert wine” – high praise indeed.
Wednesday 7th September saw the release of the 25th vintage of Almaviva – a warm and dry year, the 2020 harvest arrived almost three weeks earlier than usual. Almaviva 2020 entered the market at £120 per bottle (in-bond).
On Thursday 8th September, Château d’Yquem released the last remaining half bottles of the 2016 vintage ex-château at £165 per bottle (in-bond). The vintage achieved a Wine Lister score of 96, with Neal Martin (Vinous) tasting in February this year, awarding 95 points and noting it “has gained a bit more complexity in recent years”. Solaia 2019 was released on the same morning, with a likely UK onward selling price of £218 per bottle. Antonio Galloni (Vinous) sings its praises, giving 97 points and describing it as “the sort of wine I would like to spend a whole evening with”.
Viñedo Chadwick 2020 was also released on Thursday morning, so far being offered in the UK at around £232 per bottle (in-bond). This particular vintage is made from 100% Cabernet Sauvignon (Petit-Verdot is usually included in the blend). Tasting with the Seña-Chadwick team on Zoom, Wine Lister describes it as a complex and opulent offering, exhibiting great energy, freshness, and intensity.
Friday 9th September saw the release of L’Aventure Estate Cuvée 2020 at a recommended UK onward selling price of £83 per bottle (in-bond). Wine Lister CEO Ella Lister (tasting on behalf of Le Figaro Vin) awards the 2020 95 points, describing it as “Pure and upfront on the nose, with dark fruit, slate, and cinnamon”. It should be noted that the next release of l’Aventure Estate Cuvée will be in September 2024, as the property is skipping a year in order to age the 2021 longer.
Also released this week were Cloudburst Chardonnay 2020, Cloudburst Cabernet Sauvignon 2019, Beaucastel Hommage à Jacques Perrin 2020, Opus One Overture 2019, Massetino 2020, Rieussec 2020, and R de Rieussec 2021. Upcoming releases over the next week are likely to include Penfolds Bin 169 2019, Cheval des Andes 2019, Bibi Graetz Colore 2020 & Testamatta 2020, Latour 2010, Petrolo Galatrona 2020, Catena Zapata Nicolas 2019, and Beaulieu Vineyard Georges de Latour 2019.
Despite the challenges brought throughout the growing season of the 2021 vintage, Bordeaux’s dry whites shone in terms of quality. To guide those still considering their 2021 Bordeaux en primeur purchases, Wine Lister presents some of the best choices in Bordeaux whites from the vintage, at five different price points. (All prices are quoted in-bond per bottle when purchasing by the case).
Under £25 – Olivier Blanc
The 2021 vintage from Château Oliver’s white was described by Jancis Robinson as “Racy and lively” with a “good balance of interesting fruit and zest”. Ella Lister (for Le Figaro) gave Olivier 2021 a score of 92-93, praising its balance and describing it as an “ethereal and harmonious blend of Sauvignon and Sémillon”. Olivier 2021 can be purchased from Millésima for £22.70.
Under £40 – Malartic-Lagravière Blanc
Awarding 90-92 points, Antonio Galloni (Vinous) describes the latest vintage of Malartic-Lagravière as “Bright and sculpted”, with “plenty to offer”. Jancis Robinson deems it “Already attractive” and “Impressively persistent”. Malartic-Lagravière Blanc appears on Wine Lister’s list of value picks in Part II of our 2022 Bordeaux Study, indicating a strong quality-to-price ratio. Elsewhere in the study, Wine Lister found that Malartic-Lagravière is enjoying a robust short-term (six-month) price performance of just under 14% – placing it in the top 15 short-term price performances. Malartic-Lagravière 2021 can be bought from Justerini & Brooks for £39.42.
Under £75 – Domaine de Chevalier Blanc
The 2021 vintage from Domaine de Chevalier has received acclaim from the critics, with Neal Martin (Vinous) awarding its white 95-97 points and declaring it “one of the best Domaine de Chevalier whites that [he has] tasted in 20-plus years”. Jancis Robinson confers a score of 17+ and writes that it “should be a real long-distance runner”. Domaine de Chevalier Blanc 2021 can be bought from Farr Vintners for £72.17.
Under £110 – Cos d’Estournel Blanc
The only wine among the five selected here not to hail from Pessac-Léognan, Cos d’Estournel’s Blanc 2021 receives its joint-highest Wine Lister score in over 15 years. Indeed, Antonio awards it 93-95 points, above last year’s vintage (91-93), and writes that it is “one of the finest vintages I can remember tasting”. He praises its “sheer palate presence”, a sentiment Ella echoes as she describes Cos d’Estournel Blanc 2021 as “delectable, lingering in the mouth”. Cos d’Estournel Blanc 2021 can be purchased from Berry Bros. & Rudd for £105.
Under £650 – Haut-Brion Blanc
One of the most noteworthy releases of the 2021 Bordeaux en primeur campaign is the latest white from Haut-Brion. In such a challenging vintage, Haut-Brion Blanc 2021 seriously impresses as it sees the greatest increase in Quality from 2020 to 2021 – as explored in Part II of Wine Lister’s 2022 Bordeaux Study. The 2021 vintage also achieves the wine’s highest ever potential en primeur score from Vinous as Neal awards it 96-98 points. Haut-Brion Blanc 2021 can be purchased from Cru World Wine for £640.
Bordeaux en primeur 2021 had its share of surprises – and challenges – when it came to pricing. Wine Lister examines some of the best offerings from the 2021 vintage at five different price points, to inform those still considering their en primeur purchases this year. (All prices are quoted in-bond per bottle when purchasing by the case).
Under £15 – Mauvesin Barton
Owned by the Barton family – whose portfolio also includes Léoville Barton and Langoa Barton – the 2021 vintage from the Mauvesin Barton estate has been described as “well-balanced and surfeit with freshness” by Neal Martin (Vinous). To compensate for the extensive frosts of 2021, the vintage’s blend contains more Cabernet than usual. It is the first vintage to be made in Mauvesin Barton’s new winery, which is equipped with smaller vats for greater precision, and it shows. This offering from Moulis-en-Médoc can be purchased for £10.92 per bottle from Justerini & Brooks.
Under £50 – La Gaffelière
One of the star releases of the 2021 en primeur campaign, La Gaffelière is on a continuous upward trajectory. The 2021 vintage received the Saint-Émilion estate’s joint-highest ever Wine Lister score, and a score of 95-97 from Antonio Galloni (Vinous). This is a very strong showing from the estate, which features in Part II of Wine Lister’s 2022 Bordeaux Study as a quality outperformer – meaning that its 2021 vintage has outpaced its average quality. La Gaffelière 2021 can be purchased from Millésima for £48 per bottle.
Under £75 – Rauzan-Ségla
Nicolas Audebert, Managing Director at Rauzan-Ségla and Canon, told the Wine Lister team that 2021 was “the most stressful and exhausting vintage ever”. Strong praise from critics is a testament to the hard work carried out by the estate’s team – including the highest amount of intra-parcel zoning ever done in the vineyard, identifying the best lots. Antonio and Neal rated it 94-97 and 94-96 respectively, while James Lawther (for JancisRobinson.com) describes it as “Very well-judged and very Margaux”. Rauzan-Ségla 2021 can be bought from Farr Vintners for £60 per bottle.
Under £125 – Montrose
Montrose 2021 marks the first year of organic conversion at the estate. In such a challenging vintage, the Saint-Estèphe estate’s Technical Director, Vincent Decup, told Wine Lister, “We have never done so much [in the vineyard]”. It receives a score of 94-96 from Ella Lister (for Le Figaro Vin), who notes its “very long and increasingly delicate finish”. Montrose 2021 can be purchased from Berry Bros. & Rudd for £113.50 per bottle.
Under £400 – Cheval Blanc
Following last year’s en primeur success, Cheval Blanc is once again a standout release in 2021. The estate’s Technical Director, Pierre-Olivier Clouet, remarked to the Wine Lister team that “the 2021 vintage was like cooking at low temperature after six years of cooking on a high heat”, and “given the choice, every Cheval Blanc team member would choose a case of 2021 for their cellars over 2020”. Indeed, the 2021 vintage received even more resoundingly positive reviews from critics than last year. Antonio awards it his joint-top score in 2021 (96-98) and proclaims it “one of the wines of the vintage… Stunning”. The Saint-Émilion star is available from IG Wines for £395 per bottle.
In light of the relentless atrocities taking place in Ukraine, the Wine Lister team joined forces with its parent company, Le Figaro, on May 6th for a fundraising initiative for those impacted by the war.
As we enter the sixth month of conflict, the war in Ukraine remains particularly personal for the Wine Lister team, with our lead developer, Sasha, currently based in Western Ukraine having left his home in Kyiv. Sasha is part of the estimated 7.13 million people (approximately one-third of Ukraine’s population) who have been displaced in Ukraine, while a further 6.98 million people have fled to neighbouring countries.
In a bid to support those forced to reach safety and get access to medical care, we have come together to raise funds for Sasha’s chosen charity, Ukraine Charity. This London-based organisation was established with the goal of supporting various charitable causes in Ukraine, turning its attention this year to providing humanitarian aid across the country, including the provision of life-saving emergency medical equipment to those affected.
We have embarked on the challenge of collectively covering the distance between Wine Lister’s London office and the Ukrainian border (1,882km) by Friday 15th July, with the hope of raising £10,000 for Ukraine Charity. This distance represents the journey that thousands of Ukrainian refugees have been forced to make to reach safety in the United Kingdom, and one that Sasha could previously make with ease to join us in London.
The team’s incredible effort to cover the distance from Wine Lister’s London office to the city of Lviv, close to the Ukrainian border
Across both Wine Lister and Le Figaro Vin, 12 team members have been running, cycling, swimming, walking, and even sailing at every available opportunity since starting the challenge in May, logging our routes on Strava and tracking our miles on our JustGiving page. Despite a slow start coinciding with the Bordeaux en primeur campaign, we picked up the pace in June and redoubled our efforts for this extremely worthy cause.
We are now proud to have achieved our target distance ahead of our deadline.
We have so far raised £2,107 of our fundraising goal of £10,000. With just two weeks until we donate the final amount, we would be incredibly grateful for any further donations to support the life-changing services and vital aid provided by Ukraine Charity.
Click here to donate and to find out more about the fundraising initiative.
Amongst other findings, Part II of Wine Lister’s annual Bordeaux Study, ‘Walking the tightrope’, explores the outperformers of the latest vintage – the top 15 wines whose Wine Lister Quality score (part of our Pro rating system) in 2021 most exceeded their wine-level average. The wine-level average is calculated based on a mean Quality score over the last five vintages, to reveal more recent trends. Seven of this year’s outperformers were also featured in the 2020 list, indicating that these wines continue to build long-term quality in 2021.
Quality score – outperformers in 2021 (as featured in Part II of our 2022 Bordeaux Study)
Four Margaux wines feature in the 2021 outperformers chart, with Durfort-Vivens this year taking the top spot from Ferrière. Receiving a score of 92-94 from Ella Lister (for Le Figaro Vin), she describes it as “Effervescent with energy and life […] with an impressive density, and a generous future ahead of it.”
New additions to the outperformers chart this year, Marquis d’Alesme and Marquis de Terme rank in 11thand 13th place respectively. As well as appearing in our list of Bordeaux 2021 Value Picks (wines with the best quality-to-price ratios), the latter earns the status as the Bordeaux red with the biggest increase in 2021 Quality score compared to the 2020 vintage (also explored in Part II). Antonio Galloni for Vinous awards Marquis de Terme 2021 its highest ever potential score from the critic platform, 93-95, calling it “inky, vibrant, and super-expressive”.
La Lagune returns to the 2021 chart in fourth place, down from third in last year’s study. James Lawther (JancisRobinson.com) calls the 2021 “pure and precise”. The estate has been certified organic since the 2016 vintage and is currently working towards biodynamic certification.
Pauillac also sees four wines on this year’s outperformers chart, with Grand-Puy-Ducasse, Haut-Bages Libéral, Haut-Batailley, and Pédesclaux showing strong improvements in Quality score in 2021. Awarding a score of 92-94, Antonio Galloni notes that Grand-Puy-Ducasse “has made important strides of late”, given the increased investment under the direction of Anne Le Naour, while Pédesclaux has also seen significant investments from proprietor Jacky Lorenzetti.
Saint-Emilion brings three wines to the 2021 outperformers chart, with Fombrauge entering the outperformers chart in 10th place, and La Dominique overtaking La Lagune to occupy the third spot. La Gaffelière has also increased its standing on the chart, having climbed six places from 11th place last year, and achieving its highest ever Wine Lister Quality score in 2021.
Les Carmes Haut-Brion continues its upward trajectory in 2021, receiving a score of 17++ by James Lawther (the highest score given by the JancisRobinson.com team since the 2015 vintage), and gaining Ella Lister’s top score for the vintage (96-99 points). Larrivet Haut-Brion enters the outperformers chart in ninth place, with the estate deciding not to include any Merlot in their 2021 blend – a first in Bordeaux.
Also appearing on our list of Value Picks for the 2021 vintage, Les Ormes de Pez rounds off the list of outperformers, having received a score of 91-93 from Neal Martin (Vinous), who calls it “A stylish Saint-Estèphe”.
For the full list of Wine Lister’s top 20 Value Picks for Bordeaux, as well as further analyses of the region’s performance on Quality, search data, auction activity, and short-term price performance, download Part II of Wine Lister’s 2022 Bordeaux study here.
Wine-Searcher is the world’s largest wine and spirits search engine, handling 250 million searches from around the world each year. This year, as part of Wine Lister’s annual Bordeaux study (Part II), we include data from Wine-Searcher exploring compound annual growth (CAGR) by Bordeaux appellation, average offers on Wine-Searcher by appellation, vintage, and geography, and average monthly searches by appellation and search location.
“There have been some subtle (and not-so-subtle) changes over the past year”, observes Wine-Searcher’s Editor, Don Kavanagh. “While Bordeaux still dominates both search and offer numbers, interest appears to have fallen slightly in relative terms.”
Bordeaux’s offer count on Wine-Searcher
Though Bordeaux is still the major player on the world stage, with the highest total share of search activity of all major wine regions, its growth in rate of search is showing signs of being outpaced.
Searches for all wines over the past 12 months increased from 188 million to 205 million, slightly faster than searches for Bordeaux wines (up by 3 million to 39 million) during the same period.
Similarly, Bordeaux is not benefitting from the overall growth in offers on Wine-Searcher, which have risen from 6.8 million to 6.9 million over the last 12 months. Indeed, Bordeaux offers have shrunk slightly, from 791,000 to 786,000. Not all Bordeaux appellations were equally affected (see graph below).
Average offer count per wine by appellation and merchant location, January – April 2022
During the first four months of 2022, there was a 6.7% contraction in offers from Europe (excluding the UK), with an even steeper reduction in offers from the UK and Asia, at 11.5% and 12.1% respectively, when compared with the same period in 2021. The USA’s number of monthly searches, as explored above, map neatly onto its increase in monthly offers per appellation (6.3% once again).
Search count by Bordeaux appellation and geographical location on Wine-Searcher
Search activity varied by geographical location in the period from January to April 2022, in comparison with the same period in 2021. While searches for Bordeaux appellations from the UK, Asia, and Europe (excluding the UK) decreased, the USA saw a 6.3% increase in search activity.
Average search count per wine by appellation and user location in 2022 (January – April)
Bordeaux’s price growth by appellation on Wine-Searcher
There are causes for optimism; growth with respect to global average prices (measured as a compound annual growth rate, or CAGR) in the period 2017-2022 has continued. The leader of the pack among Bordeaux appellations in this regard is Pomerol, reaching 6.1%. Even the lowest CAGR, exhibited by Saint-Emilion and Margaux, is 4.3%.
The year 2020-2021 remains an exception; compound annual growth rates jumped by 10% across all the examined appellations in that year.
Compound annual growth by appellation, 2017 – 2022
The strength of the region’s compound annual growth rate is perhaps linked to the sharp decline in overall offer activity beginning in 2019, as compared with the longer-term average. While overall offer activity began to decrease, the proportion of offers between each appellation remained relatively stable in the period 2014-2020.
To view the full Wine-Searcher insert in Wine Lister’s annual Bordeaux study, and uncover more of Wine Lister’s analysis of the Bordeaux’s standing in 2022 – including quality scores, short-term price performance, and auction activity, as well as the topics discussed above – download the full report here.
Following the conclusion of this year’s Bordeaux en primeur campaign, Wine Lister has published Part II of its annual in-depth Bordeaux Study. The study provides invaluable insights into search activity, Quality scores, short-term price performance, and auction volumes, as well as revealing the best-performing wines in 2021.
Please see some of our key findings below:
You can download the study digest here. The full report can be purchased in French and in English on our Analysis page, while Pro subscribers can access their free copy here. See our previous posts to catch up on some of the key releases from the 2021 en primeur campaign.
The finish line for the 2021 campaign is in sight, with only a few key releases pending. We reflect on how it compares with previous campaigns and highlight the more promising releases of the last few days.
A challenging vintage in 2021 generated what may be characterised as a fraught en primeur campaign. While prices for many releases were slightly higher than perhaps warranted by quality, there are some real gems to be found for those willing to take a closer look. With only a small handful of key releases left to come (Vieux Château Certan, Petrus, Le Pin, and Trotanoy), we take a look at how 2021 compares with previous en primeur campaigns.
Of the 110 en primeur releases to date that Wine Lister has followed in 2021, 2020, and 2019, the average 2021 release price of £97.99 is virtually flat on 2020 (£97.71) and up 17% on 2019 (£83.98). 29 wines released at prices that were up on 2020, 52 flat or all but flat ignoring the minor effect of exchange rate discrepancies and 29 down on 2020.
The biggest increases are justifiably for sweet and dry whites (+51% for Lafaurie-Peyraguey, +41% for Suduiraut, and +33% for Pavillon Blanc).
Meanwhile, the 29 wines that have released below 2020 prices have all been reds, with the largest decreases being Montrose, La Mission Haut-Brion, and l’Eglise Clinet, at -12%, -11%, and -11% respectively.
This week’s releases – Tuesday 14th June
Some of the standout releases from the past few days are outlined below.
Margaux was one of the first to be released on Tuesday 14th June at £425 – down just 2% on the 2020 price and up 19% on the 2019. Ella praised its “majestic nose”, while Antonio Galloni describes it as a “powerful, surprisingly brooding wine”. Ranked joint-fourth by trade experts in terms of highest confidence, this First Growth has likely reinforced this trust with the 2021 vintage. Given the post-release price rises for both 2020 and 2019, it is an attractive prospect.
Behind the scenes at Château Margaux with Alexis Leven-Mentzelopoulos (Deputy General Manager, Strategy and Development), Alexandra Petit-Mentzelopoulos (Deputy General Manager, Communication and Image) and Philippe Bascaules (Managing Director) (l-r)
L’Église Clinet was released at £208.37, with a score of 94-96 from both Neal Martin and Antonio Galloni. Considering its impressive quality, as well as the fact that its price is below the market prices for both the 2020 and the 2019, this year’s release could prove popular.
Wednesday 15th June
One of Wednesday morning’s star releases was Les Carmes Haut-Brion at £79. While this is higher than both the 2020 and the 2019 opening prices, it follows the golden en primeur rule, offering a 31% and 35% discount on current 2020 and 2019 market prices, respectively. With its faultless track record for price performance post-release, this proved one of the most obvious buys of the campaign.
Pomerol up-and-comer, Clinet arrived on the scene at £66.50. Achieving positive scores from Wine Lister’s partner critics, the latest release looks interesting, with quality around the same level as its 2018, and price below current market prices for the 2020 and 2019.
Achieving outstanding quality in this difficult vintage, Ducru-Beaucaillou 2021 was released at £159. The latest release matches existing market pricing of the 2020, and sits at a small premium (6%) to the already-bottled 2019. This should work on the basis of Ducru-Beaucaillou’s “super-second” status.
Thursday 16th June
One of Thursday’s first releases was Haut-Brion, priced at £425, down 3% on the 2020 and up 49% on the 2019 release. Wine Lister partner critic, Neal Martin (for Vinous) described it as having a “more extravagant, charming bouquet compared directly with La Mission at the moment”. La Mission Haut-Brion was also released, at £225, representing a moderate discount on both the 2020 and the 2019 release prices.
Haut-Brion Blanc was released at £610. The release has strong credentials, as the top-scoring dry Bordeaux white in 2021 by WL score (96). This is a release which is sure to attract attention in a vintage hailed for the quality of its white wines.
Friday 17th June
Friday saw La Conseillante released at £157 – flat on the 2020 release price, and 30% up on the 2019. It scores impressively in 2021 – indeed, Ella notes, “this is a Conseillante that has perhaps finally found its 21st century identity since Cazaux started making the wine”. Given the property’s bright future, and an opening price undercutting the now dwindling stock of the 2019 vintage by 31%, this is likely worth backing.
Figeac also released its Grand Vin, at £163 – up on its 2020 and 2019 release prices by 4% and 35% respectively, though comfortably below current market prices of the 2019, 2018, 2016, and 2015. Praised for its highly quality, and of course with positive speculation surrounding its Saint-Émilion classification status, Figeac will likely see good interest.
Tasting Figeac with Frédéric Faye, Managing Director at Château Figeac, before Figeac’s new cellar celebration dinner
Also released this week were Saint-Pierre, Gloria, Clos Fourtet, Pavillon Rouge, Pavillon Blanc, Haut-Bailly, Durfort-Vivens, Beau-Séjour Bécot, Pape Clément, Pape Clément Blanc, Valandraud, Petit Village, La Mission Haut-Brion Blanc, Quintus, Domaine de Chevalier, Calon Ségur, La Fleur Pétrus, Certan de May, Belair-Monange, and Pavie-Macquin.
By virtue of being linked to vintages at the mercy of the cyclicality of nature, it appears that this year’s campaign represents a downcycle, according to feedback thus far from Wine Lister’s trade network.
For further details on the vintage, pricing, and popularity of Bordeaux in the context of the 2021 vintage, Part II of Wine Lister’s Bordeaux Study is now available to download here.