The first of our articles on the performance of Bordeaux 2011 10 years on examines the top price performers and the best value finds from the Left Bank.
- Bordeaux 2011 is back in the spotlight as it reaches its tenth anniversary.
- Most of the wines from the Left Bank have risen in price since release, with the second wines of châteaux Mouton and Lafite Rothschild seeing triple-digit gains.
- Buyers can still find highly scored Bordeaux 2011s below their release price.
Released after two excellent but expensive vintages at a time when fine wine prices were in steep decline, Bordeaux 2011 has gone down in history as a difficult vintage to make and sell.
Despite this image, many wines have seen steady price returns, while others continue to offer value today.
In a series of blog posts this week, we will examine the market performance of Bordeaux 2011, starting with the Left Bank today.
Investment returns from the Left Bank 2011
*made using the Liv-ex Charting tool. Liv-ex members can access it here. For more information on Liv-ex membership click here.
The second wines of Château Mouton-Rothschild and Château Lafite Rothschild, Le Petit Mouton and Carruades de Lafite, have been the best performers on the Left Bank, having risen by triple figures since their release.
Le Petit Mouton 2011 recently featured among Jancis Robinson MW’s top-scoring wines from the Left Bank, receiving 17.5 points.
The more affordable Fourth Growths Château Beychevelle and Château Talbot have also seen steady price gains, up 80% and 86% respectively. Château Clerc Milon 2011 has more than doubled its price since release.
The best 2011s still below release price
Although most Bordeaux 2011s have risen in price, it is still possible to find wines on the secondary market with 10 years of bottle age below their release price. Many of them also compare favourably to other vintages from the same château.
La Mission Haut-Brion, which is available 30% below release, stands out. The wine boasts some high critic scores and was most recently retasted by Robinson (17), who named it among the ‘superior’ wines from Pessac-Léognan.
The 2011 is also one of the most affordable La Mission Haut-Brion vintages of the last 10 years. As shown by the chart below, La Mission Haut-Brion prices are 90% correlated to Wine Advocate scores. With 95 points, the 2011 sits just below the trend line – only the 2013 and 2014 are slightly cheaper.
*made using the Liv-ex Fair Value tool. Silver+ members can access it here. For more information on Liv-ex membership click here.
At present, Montrose (JR 16) costs 8% less than it was upon release. At £710 per case, the 2011 Montrose sits at the same price level as the 2012, and only the 2013 is available for less.
Another wine that has continued to offer value is Cos d’Estournel (JR 16.5+), which remains available 4% below its release price. Its price has been on the move in the last five years, and the wine most recently traded 3.1% above its Market Price.
Cos d’Estournel 2011 trades on Liv-ex
Stay tuned for more on the performance of the Right Bank 2011s and the First Growths. Liv-ex members on Silver+ packages can read a more detailed vintage overview in the November Market Report.
Liv-ex analysis is drawn from the world’s most comprehensive database of fine wine prices. The data reflects the real time activity of Liv-ex’s 530+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £80m of bids and offers across 16,000 wines. Independent data, direct from the market.
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