The Right Bank estates Château Figeac and Château Ausone were listed as two of the best wines of the 2021 vintage by Liv-ex members in our recent survey.
They were ranked highly by members alongside Château Lafite Rothschild and Château Margaux. In yesterday’s update we examined the price at which the two First Growths would look ‘fair value’ (according to the Liv-ex methodology). Today we do the same with Figeac and Ausone.
Figeac
There is much anticipation that the Saint-Emilion estate will be promoted to Premier Grand Cru Classé ‘A’ in this year’s classification.
Although the classification has been slightly dented by the withdrawal of several notable estates (including Ausone), Figeac is nonetheless a chateau making waves.
As with recent vintages, the 2021 has been well rated by the leading critics. According to our Benchmark Critic score, an ex-London price of £1,800 would be exactly Fair Value. This would suggest a lower ex-négociant price of €148-150 per bottle – the 2020 was released at €156 per bottle.
Most wines so far this campaign have been released at the same price as last year, though there have been some reductions. If released at the 2020 price, the 2021 will look somewhat over-priced at close to £1,900 per dozen. However, buyers may consider that, given the brand’s current trajectory, that price is worth paying.
Ausone
*Ausone’s strongest ‘fair value’ correlation is with various scores from Vinous rather than the ‘Benchmark Critic’ (Robert Parker and Neal Martin).
The 2021 Ausone was also a favourite with members. Neal Martin (Vinous) said it was ‘compelling in its own uncompromising way’. Yet both he and Antonio Galloni have rated it 93-95 points.
Looking at back vintages of Ausone there are several vintages – the 2017, 2019 and 2014 – which all have higher scores from Martin and are currently available for between £4,600 to £5,800 a case (depending on the vintage).
If Ausone releases its 2021 at the same price as the 2020 (€500 per bottle ex-négociant), it will be offered by merchants for around £6,400 a case, automatically making it more expensive than the above-mentioned vintages with their advantages in both superior scores and cheaper market prices.
To look truly compelling according to the methodology used by Liv-ex, the 2021 should (ideally) be released closer to £4,000 per case. This would require a steep cut in price from the 2020, however, which has not been the prevailing trend of the campaign so far.
A token cut in price will leave the 2021 looking expensive relative to back vintages but some buyers may also be keen to get hold of stock of what will be the last Ausone vintage to bear the Premier Grand Cru Classé ‘A’ label.
Liv-ex members on Silver+ packages can explore further on the Fair Value tool.
Our Bordeaux En Primeur 2021 page contains everything you need to know about this year’s campaign. You can also sign up for our daily En Primeur email alerts using the form below.
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 580+ 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.
