Floodgates open on en primeur releases – some priced at a ten-year low
Today (6 May) saw the largest day for en primeur releases so far in this year’s campaign, with some notable estates cutting their prices to the lowest release price in over a decade in order to entice buyers. The post Floodgates open on en primeur releases – some priced at a ten-year low appeared first on The Drinks Business.
Today (6 May) saw the largest day for en primeur releases so far in this year’s campaign, with some notable estates cutting their prices to the lowest release price in over a decade in order to entice buyers.
Among the release were those who released at their cheapest prices since 2013 (Château Haut-Bages Liberal in Pauillac and Château Ormes de Pez in St Estephe), 2014 (Château Lynch-Bages in Pauillac) or 2015 (Pauillac’s Château Haut-Batailley, Château Smith Haut Lafitte in Pessac-Leognan, and Château Cheval Blanc in Saint-Emilion), while Château Cantemerle in the Haut-Medoc saw it’s lowest release price since 2008 and Chateau La Lagune’s “in recent memory”, according to Liv-ex.
However, sometimes, this headline amount proves to more generous than others – for example, it was Château Cheval Blanc in Pauillac that saw the largest cut in price, with 29.5% reduction of the 2023 price, at £3,300 per case of 12 to the London trade, or €276 per bottle ex-negociant price, its lowest in over a decade. This makes the 2024 almost the cheapest vintage on the market - second to the 2021, Liv-ex noted - although it also saw 35% less wine produced.
Similarly, Château Gazin, which returned to pricing from 2014, with a case of 12 available to the London trade at £474,18.6% down on the 2023’s release price, has proved to the least expensive vintage on the market, although there are some high-point vintages, such as the 2019 available at only around 10% more than the 2024’s release price.
Meanwhile Château Lynch-Bages may prove a tempting offer, according to Liv-ex, after it released at the lowest price since 2013. The 14% decrease on the 2023 release – at £730 per case of 12 to the London trade – making it one of the cheapest vintages on the market (behind the 2021).
Château Haut-Bages Liberal 2024 also became one of the cheapest recent vintages on the market (after the 2021) despite releasing this vintage a fraction above the 2023 release price, at £270 per case of 12 to the London trade.
However, Chateau Angelus, released on Thursday last week, remains the one to watch, after slashing the release price by 31.2% on the 2023 release (to £2,148 per case of 12 to the London trade) As a result, the 2014 is the cheapest vintage currently on the market.
At the other end of the spectrum, Chateau Haut-Batailley 2024 remains one of the more expensive vintages on the market, despite seeing its lowest release price since 2015, and a 10.9% discount on 2023 price at £385 per case of 12 to the London trade.
Château Ormes de Pez in St Estephe also released at the cheapest price since 2013, but at only 3.6% below the 2023 release price, there are several higher-rated and less expensive vintages on the market.
The same can be said for Château Smith Haut Lafitte (Rouge) in Pessac-Leognan, which was down 18.7% on the 2023 price, but still saw several vintages that can be brought on the secondary market for less. Meanwhile, the Château Smith Haut Lafitte Blanc was released flat on the 2023 price and remains the third most expensive vintage on the market, after the 2009 and 2011, Liv-ex said.
This proves, that consumers need to take the headline figure - be that returning to a price from a decade ago, or a 20% markdown on last year's release - somewhat needs to be taken with a pinch of salt, as it doesn't necessarily prove that the vintage will be the best value available.
Among the release were those who released at their cheapest prices since 2013 (Château Haut-Bages Liberal in Pauillac and Château Ormes de Pez in St Estephe), 2014 (Château Lynch-Bages in Pauillac) or 2015 (Pauillac’s Château Haut-Batailley, Château Smith Haut Lafitte in Pessac-Leognan, and Château Cheval Blanc in Saint-Emilion), while Château Cantemerle in the Haut-Medoc saw it’s lowest release price since 2008 and Chateau La Lagune’s “in recent memory”, according to Liv-ex.
However, sometimes, this headline amount proves to more generous than others – for example, it was Château Cheval Blanc in Pauillac that saw the largest cut in price, with 29.5% reduction of the 2023 price, at £3,300 per case of 12 to the London trade, or €276 per bottle ex-negociant price, its lowest in over a decade. This makes the 2024 almost the cheapest vintage on the market - second to the 2021, Liv-ex noted - although it also saw 35% less wine produced.
Similarly, Château Gazin, which returned to pricing from 2014, with a case of 12 available to the London trade at £474,18.6% down on the 2023’s release price, has proved to the least expensive vintage on the market, although there are some high-point vintages, such as the 2019 available at only around 10% more than the 2024’s release price.
Meanwhile Château Lynch-Bages may prove a tempting offer, according to Liv-ex, after it released at the lowest price since 2013. The 14% decrease on the 2023 release – at £730 per case of 12 to the London trade – making it one of the cheapest vintages on the market (behind the 2021).
Château Haut-Bages Liberal 2024 also became one of the cheapest recent vintages on the market (after the 2021) despite releasing this vintage a fraction above the 2023 release price, at £270 per case of 12 to the London trade.
However, Chateau Angelus, released on Thursday last week, remains the one to watch, after slashing the release price by 31.2% on the 2023 release (to £2,148 per case of 12 to the London trade) As a result, the 2014 is the cheapest vintage currently on the market.
At the other end of the spectrum, Chateau Haut-Batailley 2024 remains one of the more expensive vintages on the market, despite seeing its lowest release price since 2015, and a 10.9% discount on 2023 price at £385 per case of 12 to the London trade.
Château Ormes de Pez in St Estephe also released at the cheapest price since 2013, but at only 3.6% below the 2023 release price, there are several higher-rated and less expensive vintages on the market.
The same can be said for Château Smith Haut Lafitte (Rouge) in Pessac-Leognan, which was down 18.7% on the 2023 price, but still saw several vintages that can be brought on the secondary market for less. Meanwhile, the Château Smith Haut Lafitte Blanc was released flat on the 2023 price and remains the third most expensive vintage on the market, after the 2009 and 2011, Liv-ex said.
This proves, that consumers need to take the headline figure - be that returning to a price from a decade ago, or a 20% markdown on last year's release - somewhat needs to be taken with a pinch of salt, as it doesn't necessarily prove that the vintage will be the best value available. 
