Recent trading activity
Bordeaux was in the spotlight over the weekend and into this week, accounting for nearly a third of trade by value. Activity was driven by several ‘on’-vintage wines, including Chateau d’Issan 2016, Chateau Pontet-Canet 2019, along with ‘off’-vintage ones like Chateau Pavie 2014 and Chateau Ausone 2017.
Following several in-bottle tasting reports, Chateau Canon 2020 and Troplong Mondot 2020 both set trading highs on Tuesday of £1,700 and £924 per 12×75 respectively.
Canon was awarded 100-points by both Antonio Galloni and Jane Anson in their recent in-bottle reports, while Troplong Mondot was among Galloni’s top-scoring wines, with 98-points.
Members on Silver+ packages can find further analysis on Bordeaux 2020 in this month’s Market Report.
Penfolds Grange 2008 and Tignanello 2016 also traded at all-time highs on Tuesday of £5,100 and £1,800 per 12×75 respectively.
Paul Jaboulet Aine Hermitage La Chapelle opportunities
One year ago today, Paul Jaboulet Aine Hermitage La Chapelle released its 2020 vintage in the UK at £1,452 per 12×75.
Since release, the wine has fallen 3.6% in value and currently commands a Market Price of £1,400 per 12×75.
Paul Jaboulet Aine Hermitage La Chapelle prices are 60% correlated to Wine Advocate scores. Looking at the chart below, the 2020 still commands a premium to the line implied by our ‘Fair Value’ methodology.
However, there are several opportunities among the wines back vintages. For example, the 97-point 2012 vintage is currently available at £1,260 per 12×75 and falls well below the Fair Value line.
In his tasting note, Jeb Dunnuck (writing for the Wine Advocate at the time) noted this was ‘the first year where winemaker Caroline Frey really feels her organic farming drive paid off’ and that the wine was ‘a gorgeous effort that shows the purity and texture of the vintage’.
The higher-scoring, 98-point, 2017 and 2018 vintages also fall below the line at £1,383 and £1,520 per 12×75 respectively. The Wine Advocate scores for these wines were from Joe Czerwinski. Although not noted on the chart, the critic gave the 2018 a score of 98+, indicating that it ‘has the potential to improve over a period of time in bottle and may warrant a higher score in a subsequent/future tasting’.
Reviewing for his own website, Jeb Dunnuck awarded the 2017 a slightly higher score of 99-points. He added that it was a ‘a full-bodied, pure, deep, multi-dimensional Hermitage that’s just about as good as it gets’.
With 95 points from Jeb Dunnuck (Wine Advocate), the 2011 is the cheapest recent vintage on the market and also falls below the Fair Value line.
There are currently over 1,250 LIVE Paul Jaboulet Aine opportunities on your exchange.
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 600 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.
