|The Liv-ex Market Price||Cellar Watch Fine Wine Market Report||Standard setters||Fine wine data from Liv-ex|
Monbousquet 2014 was released earlier today. It came out at €27.5 per bottle ex-negociant, up 10% on the 2012 and 2013 (both €25). It is being offered by merchants at £259 per 12x75, making it the cheapest of all vintages currently available on the market, though the 2011 is being offered at around the same level. Importantly, the most recent release is being offered at 35-40% below the current market prices of the 2006 and 2008. This is even greater than the 25% discount on these vintages where 2014 releases have so far found a market. It costs less than half the price of the similarly scored 2004.
Neal Martin reported: “Once the aromas begin to gain a little chutzpah, this will be a fine, more classically inspired Monbousquet compared to recent vintages.”
Brane Cantenac was released today at €31.5 per bottle ex-negociant, up 16.7% on 2013 (€27) and up 9.4% on 2012 (€28.8). It is being offered by merchants for £310 per 12x75, making it cheaper than all other vintages previous to 2011. At this price, it is available at around a 15-20% discount to the 2006 and 2008, which are both of comparable qualities.
Pavie was released this morning at €180 per bottle ex-negociant, up 9.1% on 2013 (€165) and equal to the 2012. This is the same release price as Angelus 2014 and almost exactly the price predicted by respondents of the Liv-ex members’ En Primeur survey, whose average estimate was €179.2. It is being offered by merchants at £1,700 per 12x75. At this level, several back vintages are available on the secondary market for less. The 2004, 2006 and 2008 in particular appear to offer relative value to the buyer: they are comparably scored, lower priced and have several years in bottle.
Pavie Decesse was released this morning at €78 per bottle ex-negociant, up 5.4% on 2013 (€74) and equal to the 2012. It is being offered in London for £760 per 12x75. As with Pavie, several back vintages are available for less - and with higher scores. As per the chart above, the 2004, 2007 and 2008 stand out here.
Grand Puy Lacoste has been released at €38.5 per bottle ex-negociant, up 23.4% on the 2013 (€31.2) and up 18.8% on the 2012 (€32.4). It is being offered by merchants at £375 per 12x75. At this price, it is amongst the most expensive recent vintages on the market with only the 2005, 2009 and 2010 commanding higher prices. However, the 2014 – described by Neal Martin as “one of the appellation's most cerebral offerings” – has received a relatively high score of 93-95. The brand also enjoys some favour from the trade: it has held the top spot in the ‘value for money’ category of the Liv-ex members’ survey for the past five years. But will this be enough?
Haut Batailley came out at €22.8 per bottle ex-negociant, up 8.6% on the 2013 (€21) and up 5.6% on 2012 (€21.6). Like Grand Puy Lacoste, it has received a favourable score but several back vintages are available at lower prices. The equally-scored 2012 is available at a slight discount and is already in bottle.
Lascombes was released at €42 per bottle ex-negociant, up 16.7% on 2013 (€36) and up 9.4% on 2012 (€38.4). It is available from merchants at £410 per 12x75 – equal to the current market price of the 2011 and cheaper than all other vintages except 2012 and 2013. Neal Martin described his tasting as “perplexing” and will not score the wine until it has more barrel age. According to James Molesworth (Wine Spectator) it is “not dense but shows nice vibrancy.”
Smith Haut Lafitte has been released at €45.6 per bottle ex-negociant, up 18.8% on 2013 (€38.4) and up 11.8% on 2012 (€40.8). It has an expected merchant release price of £450 per 12x75 - equal to the current market prices of the 2011 and 2012. Neal Martin described it as “a more ‘athletic’ Smith Haut Lafitte, but one that allows the terroir to come through and be articulated”. The newest release is of comparable quality to the 2004 and 2006 which have both been scored 93 points and are currently commanding secondary market prices that are only 10-15% higher than the 2014 release.
This morning saw a flurry of important releases from the Right Bank. Clos Fourtet came out at €50.5 per bottle ex-negociant, up 14.7% on 2013 (€44) and up 12% on 2012 (€45). It is being offered by merchants for £490 per 12x75, making it the fourth cheapest vintage on the market. Of the back vintages, it is comparable both in terms of price and points to the 2008, though the latter already has several years in bottle. The 2012 may also look attractive to buyers: it is available on the secondary market below the price of the 2014 and was recently awarded 95 points by Robert Parker.
Figeac was released today at €60 per bottle, up 25% on 2013 amd 2012 (€48). It is being offered by UK merchants for £575 per 12x75, making it the third cheapest vintage on the market: only the 2013 and 2012 are available for less. With a score of 93-96 from James Molesworth (Wine Spectator), its quality is comparable to the 2005 which is priced 65% higher than the most recent release.
In the Liv-ex members’ survey, merchants voted Figeac into joint eighth place (with Clerc Milon) in their top ten ‘value wines’ from 2014. However with this category defined as ‘wines expected to be released at under £500 per case’, merchants appear to have expected a lower release.
Conseillante was released today at €66 per bottle, up 15.8% on 2013 (€57) and up 14.6% on 2012 (€57.6). It is being offered by merchants at £640 per 12x75. At this price, it is not the cheapest vintage on the market, though all vintages available for less do have lower scores. Buyers may find value in the recently upgraded Conseillante 2012: it has the same score as the 2005, 2009 and 2010 but is available at a fraction of the price.
随着帕克的十年回顾报告将在年底公布，波尔多2005年份继续找到买家：上周爱士图尔Cos d'Estournel在最高交易价值和数量榜中同时名列前茅- 目前每箱（12×75）的交易价为1370英镑，交易量也比本年初上升20％以上。同时，西施佳雅Sassicaia 的副牌酒San Guido Guidalberto自三月份的大量交易后，上周重返最高交易数量排名榜的高位。