Bordeaux 2012: Still waiting for big names15th May, 2013 by Rupert Millar
En primeur releases this morning include Beychevelle, Grand Puy Lacoste and Haut Batailley but there are some big names still waiting in the wings.
Fellow Pauillac Haut Batailley dropped 6% from €22.8 p/b to €21.6 p/b, while Saint-Emilion estate Pavie Macquin came down 14% on 2011 from €39.8 p/b to €34.8 p/b.
All the prices are still 23% to 35% above the 2008 release prices. By mid-morning Beychevelle and Issan had emerged. Saint Julien-based Beychevelle dropping 10% to €40.8 p/b, while Margaux’s d’Issan came down 13% from €32 to €28.
After a mid-May break, releases began again this week with Smith Haut Lafitte and Pichon Baron.
However, Pichon Baron was roundly criticised for its 10% drop, which Liv-ex pointed out left it the same price as 2011 and 2008 – and therefore lacking a compelling reason to buy.
Pichon Comtesse, which came out yesterday, however hit the mark rather better with its 20% cut to €57 p/b.
Aside from the Right Bank properties, which after positive reviews can afford to bide their time a little longer, there are still several big name Left Bank châteaux still to release including Montrose, Cos d’Estournel and Léoville Las Cases.
How long will it be before they emerge and is this campaign going to limp on into June?