Château Margaux has recommenced this week’s primeurs by matching fellow first, Mouton’s, price drop of 10%.
Margaux’s price was released today, 22 April, at €215 per bottle ex-négociant, a 10% price cut on its 2012 price of €240 p/b.
Second wine Pavillon Rouge dropped 4% to €72 p/b. The only first to now release is Haut-Brion which is likely to match its fellow firsts in the pricing game just as it did last year.
Like the 2013 Mouton which released late last week, Margaux’s latest vintage is available from £2,400 per case, which makes it the cheapest on the market with the 2012 available for £2,750 on most lists.
On the other hand, Margaux is possibly one of the most divisive wines of the campaign with merchants either loving or hating it in Liv-ex’s survey.
Although its detractors may stay away, will its champions continue to champion it at that price?
Among the other flurry of releases this morning was Troplong Mondot down 2% to €52.80 p/b; Issan down 5%; Grand-Puy-Ducasse dropped 13% and Pédesclaux is down 7%.
The end of last week was marked by a glut of releases including Mouton and its affiliate estates, Pavie, Angélus, Palmer and Talbot.
With so many released at once and just before the Easter bank holiday, it is likely that most have not sold save for Mouton which would be the best choice for most merchants with time to focus on just one wine.
According to Liv-ex director, Justin Gibbs, and a few merchants, it’s probably a better buy than Lafite this time around.
This campaign has so far failed to cause much excitement. Lynch Bages has apparently sold well, Lafite and – in particular – Mouton have caused a minor stir but most merchants continue to say that there is “no compelling reason to buy” the wines this year, even from châteaux which have dropped a reasonable amount on their 2012 prices.
It is, on the other hand, proving to be a quick campaign.