Despite being a Premier Grand Cru Classe A, Cheval Blanc’s recent vintages are failing to rise in price. As shown above, prices for the LVMH-owned brand have actually fallen since the wines were first released – in some cases by a fifth.
The problem is not the quality. The 2010 is a double 100-point wine (receiving top marks from both Parker and Suckling), but has dropped almost 8% in price since its release. Cheval Blanc’s mistake has been to price its wines too high. As shown above, the 2006 was released at almost the same price as the 2005, despite being an ‘off’ vintage. Since that release, buyers have lost money on Cheval Blanc, which has done considerable damage to the brand.
But is it time to take another look at Cheval? The 2005 looks interesting (see chart below). It has dropped back to £4,300 per 12x75: the same price for which it was released seven years ago. For a high quality vintage and a great wine, this might just be the level at which the market is tempted.