What’s happening in the market?
Decent volumes of Screaming Eagle, Cabernet Sauvignon, Oakville 2021 changed hands yesterday propelling it onto the top traded wines by value list since last Friday.
As a result, California’s trade rose to 10.2%, rivalling Tuscany’s 10.6%. This is despite the continued demand for the newly released Sassicaia, Tenuta San Guido, Bolgheri 2021 and Ciacci Piccolomini d’Aragona, Brunello di Montalcino 2019.
California’s trade share was also buoyed by high-end wines trading over the weekend including Harlan Estate, Napa Valley 2019, Screaming Eagle, Cabernet Sauvignon, Oakville 2018 and Opus One, Napa Valley 2015.
Today’s deep-dive: Promontory 2019 pricing analysis
Promontory released its 2019 vintage internationally at £10,080 per 12×75 (released in 3×75 format as standard), flat on last year’s release.
At this price, the new release comes in higher than some of the back vintages on the market. Buyers looking for value may want to consider the 2014 or 2016. See more pricing analysis below.
Critical response
Lisa Perrotti-Brown MW (The Wine Independent) awarded the 2019 100 points. In her tasting note, however, she remarked that ‘it is quite closed at the moment, needing a little swirling to reveal notes of crushed rocks, garrigue, iron ore, and lavender, leading to a core of black cherries, redcurrant jelly, and fresh blackcurrants, with a hint of mossy tree bark’.
Antonio Galloni (Vinous) in his most recent evaluation, scored the wine 98+ points, noting ‘the 2019 Promontory is just as impressive as it always has been’. The critic awarded the wine the same score a year prior to this, describing it as ‘one of the most exuberant wines I have tasted off this property’. 98+ is the top end of the 95-98 in-barrel score Galloni awarded the wine back in 2021.
Joe Czerwinski (Wine Advocate) scored the wine 97 points, noting that ‘at this stage, it looks more intense but otherwise similar to the excellent 2018’.
Jane Anson (Inside Bordeaux) said the wine was ‘a highlight of one of [her] favourite recent Napa vintages’, awarding the wine 98 points.
Fair Value analysis
As the chart above shows, the 2013, 2014, 2016 and 2018 vintages are some of the best-value Promontory wines in the market today.
The 2013 was scored 99 points by Robert Parker, and the 2014 received the same score from Lisa Perrotti-Brown MW when she wrote for the Wine Advocate. Both wines are available at a discount to other vintages currently on the market.
The 2016, which has one of the lowest Market Prices at £6,400 per case, was scored 100 points by Robert Parker. In his tasting note, the critic mentions that ‘the finish is both powerful and beautifully nuanced, hedonic and cerebrally gratifying’. James Suckling and Lisa Perrotti-Brown MW also gave the wine a 100-point score, while Antonio Galloni awarded it 99 points.
When it comes to price performance, the 2010 and 2011 vintages have seen the biggest rise so far this year, their Mid-Prices rising by 30.9% and 24.2% respectively.
There are 55 LIVE bids and offers for Promontory wines on Liv-ex. Log in to the exchange to view them and trade.
In case you missed it
Here’s what we’ve been reading:
- Decanter – Brunello di Montalcino 2019 releases excite buyers
- The Economist – Can whisky conquer Chinese palates?
- Bloomberg – Bitcoin and Gold Both Hitting All-Time Highs Are a Jarring Contrast for Markets
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 620+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £100m of bids and offers across 20,000 wines.
