Pontet Canet kicks off en primeur 2025 releases with ‘symbolically’ significant reduction
This year’s much anticipated Bordeaux en primeur has started with the release of Pontet Canet this morning, with the price lauded as “a strong start” to a critical campaign.
The price for the wine ex. negociant is €58 per 75cl bottle, which compares to €60 for the release of the 2024 last year. This translates to £378 in bond for a case of 6 bottles excluding VAT and duty – the price that is being offered this morning by Berry Bros. & Rudd, Lay & Wheeler and a host of other London merchants.
Ahead of the release, db’s Bordeaux correspondent Colin Hay noted that if the chateau offered the new releases anywhere close to its 2024 release prices this was likely to represent “excellent value”. And this morning, he pointed out that the release of the 2025 was “pretty much” the same price as that of the 2019 in the UK, marking a “symbolically highly significant reduction” on the 2024 release price.
One should also bear in mind that the 2024 was itself already down 9% on the 2023 vintage release price, and 33% on the 2022 – indicating that the well-publicised concerns of the trade have been heeded.
“It is exciting to see Pontet Canet fire the starting gun for the Bordeaux 2025 en primeur campaign with an extremely competitive release price,” Hay said this morning, adding that this it was crucial to note that this reduction was “for a wine already much more highly evaluated by the critics in a much stronger vintage”.
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Hay himself gave it a score of 95-97, just below that of Jane Anson (96), Antonio Galloni of Vinous (96-98) and James Suckling (97-98).
As many have pointed out, this campaign is a critical one for Bordeaux – notwithstanding the fact that fine wine market sentiment seems to have improved in recent months. This sentiment has been widespread – indeed Edouard Moueix, owner of négociant Ets Jean-Pierre Moueix, warned earlier this year that “if the Bordeaux 2025 campaign isn’t successful, then En Primeur is dead.”
And as db’s recent analysis of the market conditions of the campaign pointed out, competitive pricing is needed across the board, with a price reductions of around 5 to 10% down on the 2024 vintage not unreasonable. The campaign itself also needs to be well-coordinated and led “from the start by the first growths and their peers signalling clearly to those who follow the release price discipline expected from them”, according to Hay.
As he concluded today, “The campaign needs momentum and in my view this is exactly the kind of release price strategy most likely to secure its success. Pontet Canet should be congratulated on this bold and timely move. We can only hope that others follow the lead now set”.
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Pontet Canet 2025 price is expensive, have Pontet Canet 2019 rated 99 points in our auction starting next week with a Start Price of £190 for (6 x 75cl) or £31 per bottle !!! – Tavershams Auctioneers
I’m struggling to see how that comparison is being made.
The new 2025 release price is £378 in bond for a 6×75cl case. By contrast, the 2019 is currently trading on Liv‑ex with a LivEx Market Price of £295/6 and is widely available under £300/6.
Against those numbers, it’s hard to see how the 2025 can be described as “pretty much” the same price as the 2019 in the UK.
I make that around 28% more expensive.
What have i not understood?
Very good comment and entirely correct. Yes. Robert
What was the en primeur release price for the 2019 in 2020?
The release price relative to previous vintages is irrelevant – what buyers and merchants look at is what previous, comparable vintages trade at currently and the simple fact is that you can buy 2019 for £295 and 2020 £275 (6x75cl IB).
That makes £378 for a wine not physical for 2 years a massive ask (that is to say no one is going to buy it). Most of the people I communicated with yesterday didn’t even bother to offer.
Correct again. More is needed to be known, or sling 2K+ for Fun !?
There’s better values and excellence.
Robert