Gruaud-Larose bucks trend, dropping 2019 price by just 6.5%

Saint-Julien second growth Gruaud-Larose has bucked the trend for dramatic discounts during the 2019 en primeur campaign, dropping its price by just 6.5%.

Gruaud-Larose has bucked the trend for dramatic 2019 discounts, dropping its bottle release price by just 6.5%

As reported by Liv-ex, Gruaud-Larose 2019 was released today at €51.6 per bottle ex-negociant, down 6.5% on the 2018 opening price of €55.20.

The wine, which received 95 points from Jean-Marc Querin, is being offered by the trade at £649 per case, a drop of only 5.2% on the 2018’s release of £684.

Wine Lister said that the meagre price drop may “create challenges” for the château when it comes to selling the wine.

“The 2% discount on the 2018 market price may create challenges, despite Gruaud-Larose’s solid following from traditional en primeur buyers and volume down 20%.

“Indeed, the physical 2016, 2015, and 2014 vintages are available for less. The 2010 also has market availability for just a fraction more and the benefit of a near-decade of age,” Wine Lister reported.

Meanwhile, Pauillac fifth growth, Grand-Puy-Lacoste, followed the lead of the likes of Cheval Blanc and Mouton with a more significant price drop, releasing its 2019 vintage today at €42.6 per bottle ex-négociant, down 22.5% on the 2018 release price of €55.

As reported by Liv-ex, the wine is being offered by the international trade at £540 case, a 19.6% decrease on the 2018 opening price of £672 a case.

Neal Martin of Vinous gave Grand-Puy-Lacoste 2019 a 95-97 point score, describing it as, “classy and full of breeding – quintessential Pauillac.”

Wine Lister’s CEO, Ella Lister, found the wine to be, “blue fruited, aquiline and pure,” on the nose, with the palate offering, “the same trademark Grand-Puy-Lacoste purity, tautness, and elegance”.

“Today’s release enters the market as the highest scored wine according to our ‘Benchmark Critics’, yet is priced well under a number of physical vintages,” Liv-ex said.

“The high quality and popularity of this cult claret should mean the 2019 is attractive enough to sell, though some buyers may note the market availability of the well-scored 2014 vintage, starting from £33 per bottle,” Wine Lister noted.

Completing today’s hat-trick, Lagrange 2019 was released at €29.4 per bottle ex-négociant, down 14% on the 2018 release price of €34.2 per bottle.

As reported by Liv-ex, the wine is being offered by the trade at £369 per case, a drop of 12.1% on the 2018 opening case price of £420.

Jane Anson gave Lagrange 2019 a 95 point score, believing it to be, “one of the most enjoyable of the vintage from St. Julien, with a strikingly seductive texture”. Anson noted that only a third of overall production is in the grand vin – the château’s lowest amount to date.

“Today’s release enters the market slightly above a majority of the recent vintages, bar 2016 and 2018.

“Buyers looking for a higher scored physical wine may look towards the 2016 – at 95 points from Neal Martin it sits at only a 6% premium to the newest release,” Liv-ex said.

“The question therefore remains as to whether consumers might be better-placed opting for a slight drop in quality for the same price or cheaper, on a vintage that is already bottled,” Wine Lister added.

Summary

Gruaud-Larose 2019 bottle release price: €51.6, down 6.5% on 2018

Grand-Puy-Lacoste 2019 bottle release price: €42.6, down 22.5% on 2018

Lagrange 2019 bottle release price: €29.4, down 14% on 2018