Bordeaux 2014: firsts sticking together

Château Margaux has joined its fellow firsts with a release price of €240 a bottle ex-négociant, an 11% rise on 2013.

Unsurprisingly, Margaux has chosen to release at the same price as Mouton Rothschild and Haut-Brion, its 2014 price is exactly the same as its 2012 price – it cut 10% for the 2013 vintage.

One of the Marmite wines last year with merchants either loving or hating it, this year Margaux was definitely in the “love it” camp with merchants and critics describing it as “muscular and toned”, with “fabulous balance and poise”.

Out alongside its sister was second wine Pavillon Rouge which rose 8% on both the 2013 and 2012 price to €78 p/b, the same as Petit Mouton although the latter wine was priced on the back of an 18% rise.

As with the other first growths, compared to back vintages the 2014 looks attractively priced, only more expensive than the 2013 vintage and at a 21% discount to its 2006 and 2008 wines – just below the 25% discount Liv-ex has pointed to as “the point at which buyers seem to…engage” although that hasn’t stopped wines with lower discounts or even premiums on their 06s and 08s doing well according to merchants.

Likewise, Pavillon compares well to its back vintages, only being more expensive than its 2013 and at £760 a case, its 30% cheaper than the 2006 and 19% cheaper than the 2008.

With last week bookended by bank holidays in both the UK and France the campaign has slowed a little and with two days to be lost in France this week on Thursday and Friday due to another public holiday, expect a steady stream of releases through to Wednesday.