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Thursday 31 July 2014

Bordeaux 2013: Mouton, Angélus and Pavie

17th April, 2014 by Rupert Millar

Mouton Rothschild, Palmer and Right Bank heavyweights Angélus and Pavie threw their combined backs behind the 2013 en primeurs this morning.

Mouton Rothschild_Le Fronton copyFollowing Lafite’s release yesterday, Mouton Rothschild dropped 10% on last year’s €240 per bottle price to €216 p/b – still 80% above the €120 asked for 2008.

Its second wine, Petit Mouton, didn’t budge from last year’s €66 p/b.

If the other first growths stick to last year’s pattern, we can expect Margaux and Haut-Brion to match Mouton.

Also on the Left Bank, after a derisory 1% drop last year, Palmer went down 6% to €150 p/b though it’s unlikely to sell much at that level.

Saint Emilion-based Angélus and Pavie both dropped 8% to €165 p/b each. The château decided to push their prices upwards for the 2012s to €180 p/b (Pavie went up over 50%) as they pushed their newfound prestige as premier grand cru classé A estates.

To be fair to them, they have been two of the best performing Right Bank properties of late but they too are starting to see their price appreciation decelerate.

Is €165 a bottle an attractive proposition in a weak vintage as prices for current vintages soften? Probably not but, as many have said in the run-up to this campaign and during it, do these châteaux actually want to sell their wine or protect their brand?

Also out yesterday were more of Lafite’s stable. Duhart Milon dropped 9% to €48 p/b but Pomerol-based L’Evangile didn’t budge from the €100 it has asked for since 2011.

If the current rate of releases continues, Talbot is now also out at the same price as 2012, the Bordelais are in danger of repeating the “Black Tuesday” of 2012 when over 40 estates released on the same day – and brought the campaign to a crashing halt.

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