Mouton Rothschild has been the best-performing 2019 since release. - Pavie, Haut-Batailley, Pape-Clément and several second wines are among those that have declined in price.
- Among 80 leading estates, there is a near-equal split between those that risen and fallen in price post release.
The 2019 Bordeaux vintage was released at time of global uncertainty and financial stress. Nonetheless, a combination of sensitive (and sensible) pricing and increasingly positive scores contributed to what was a surprise success.
As Liv-ex’s end of campaign report declared at the time, ‘the magic is back’. However, since their release, and despite the value they offered, it has been a mixed result for many leading labels in the secondary market.
Of the nearly 90 estates that Liv-ex covers in detail every primeurs campaign, the number of wines that have risen since release and those which have fallen in value is roughly equal.
Mouton and Carruades de Lafite are the best-performers
The standout performer of the vintage has been Château Mouton Rothschild which has risen 72.8% in value since the summer of 2020. It currently has a Market Price of £6,200 per 12×75.
The wine received very strong scores from critics, including 100-point brackets from Lisa Perrotti-Brown MW and James Suckling, as well as 96-98 from Neal Martin. It was released at £3,588 per case, down 30.8% on the 2018’s opening price and below ‘Fair Value’.
The second wine of Château Lafite Rothschild, Carruades de Lafite, is the second-best performer, up 68.7%. The grand vin itself is up 40.8%.
Chateau Figeac (58.7%), Château Pichon Comtesse (52.7%), Château La Mission Haut-Brion (46.1%) and Château Haut-Brion (39.4%) have also risen in value.
Many estates remain below their release price
Despite some strong gains, there are other estates which have declined in price since release from as little as -0.1% to as much as -23.4%. Barsac estate Château Coutet is the worst performer overall, down -23.4%, while Château Chasse-Spleen is the worst-performing red, having declined -16.7% in price since release.
Other notable estates that have seen their value slip post-release include Château Pavie (-16.2%), Château Pape-Clément (-6.2%) and Château Haut-Batailley (-9.7%), as well as the second wines of Margaux and Haut-Brion.
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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 560+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £100m of bids and offers across 16,000 wines. Independent data, direct from the market.
