Bordeaux 2009 is back in focus as critics are starting to release their reports on how the vintage is tasting now. Decanter recently published Jane Anson’s notes and a number of other critics’ scores are expected in the coming weeks. Today’s blog takes a look at the secondary market performance of the First Growths and their Second Wines from this highly acclaimed vintage ten years later.
The 2009 vintage was released at an interesting time for the fine wine market, which was nearing its peak in 2010. The wines’ release prices were relatively high and they were additionally fuelled by Robert Parker’s critical appraisal. When tasting the wines in barrel, he called the vintage “magical” and suggested that it “may turn out to be historic”.
As the chart above shows, all the 2009 First Growths are currently available below their release prices. Only Lafite, Latour and Margaux briefly peaked during the Bordeaux market bull run in 2010-2011.
Lafite saw the biggest price variation – initially released at £13,000 per 12×75, it fell to £5,700 at the end of 2015. The wine currently commands a Market Price of £7,300 per 12×75, a discount of 44% on its release price.
Margaux, which received the highest Neal Martin score of the 2009 First Growths (he awarded the wine 98 points in 2013) reached its peak of £9,000 shortly after release. The wine’s current Market Price is £6,500 per 12×75.
Unlike the First Growths, the Second Wines have all increased in value since release. Generally, these wines attract buyers wanting a First Growth brand without the Grand Vin price.
Of the Second Wines, Petit Mouton has risen the most, up a staggering 220%. It is currently at its peak – with a Market Price at £2,400 per 12×75. However, this is still 57% cheaper than the First Growth.
Pavillon Rouge has gained 92% since release and now commands a Market Price of £1,809 per 12×75. Carruades Lafite is also up (+41%)and currently available at £2,750 per 12×75. It last traded at £2,660 per 12×75 last week.
Over the coming days, we will continue to examine the price development of Bordeaux 2009. Up next – wines from the Left Bank 200.
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