Bordeaux 2020 wines that sold best were generally those at the top of the hierarchy on both Left and Right Banks, said a new Liv-ex report on the recent en primeur campaign.

A trend for price rises versus the 2019-vintage releases didn’t appear to put buyers off, although Liv-ex still described Bordeaux 2020 as potentially a ‘missed opportunity’ to build on successful Bordeaux 2019 releases.

Total sales of Bordeaux 2020 wines among Liv-ex’s UK member merchants were slightly down on the 2019 and 2018 vintages, and there was more debate about the volume of wine released.

The first growths of Mouton Rothschild, Lafite Rothschild, Margaux and Haut-Brion were among the top-selling 2020-vintage wines en primeur, as reported by Liv-ex’s merchant members in the UK.

Cheval Blanc, which released early with a widely praised pricing strategy, was among the best-selling Bordeaux 2020 wines on the Right Bank, as was Ausone, according to Liv-ex data.

Buyers also focused their spending on names considered ‘on the up’, said Liv-ex. They include Figeac and Canon in St-Emilion, Rauzan-Ségla in Margaux and Les Carmes Haut-Brion in Pessac-Léognan.

A number of other estates that are known to have a good UK following also performed well, including Calon Ségur, Lynch-Bages and Léoville Barton.

Matthew O’Connell, head of investment at Bordeaux Index, told Decanter during the campaign, ‘Léoville Barton is always well received and while pricing was at the higher end of what we might have expected, demand has been good.’

Bordeaux 2020: Our verdict on the wines

Commenting mid-way through the campaign – prior to the release of several top Left Bank estates – Shaun Bishop, CEO of US merchant JJ Buckley, named Lafite Rothschild, Cheval Blanc, Angélus and Pavie as seeing the biggest dollar sales up to that point.

As of this week, UK merchant Farr Vintners listed several Bordeaux 2020 red wines as ‘sold out’, including Canon and La Gaffelière in St-Emilion, Lafleur and Trotanoy in Pomerol, Léoville Barton and Beychevelle in St-Julien and first growth Château Margaux.

Yet there was also a feeling that the campaign had the potential to be bigger. While yields were down at some estates, the proportion of grand vin released en primeur was again a talking point.

Liv-ex said, ‘Spiralling prices and restrictions in stock once again put the brakes on trade opportunities, frustrating what could have been a larger campaign by value and volume given that there was demand for wines across the board.’ 

O’Connell added that, despite strong sales in places, ‘it’s difficult to say that this campaign energised interest in Bordeaux’.

Yet he noted that Bordeaux was already showing renewed energy on the fine wine market. O’Connell said he didn’t see 2020 en primeur pricing being detrimental to this momentum.

Coming soon: A more in-depth en primeur report for Decanter Premium subscribers.

See also: 

Best Bordeaux 2020 wines: See our top scorers

Bordeaux 2020 release coverage: As it happened

The post Which Bordeaux 2020 wines sold best en primeur? appeared first on Decanter.

Château Figeac 2020, rated 96 points by Decanter’s Jane Anson, was released this morning (25 June) at a price of €156 per bottle ex-Bordeaux, according to Liv-ex. 

That translated to a UK merchant price of around £1,872 per 12-bottle case in bond. 

‘In the context of rising prices, the 2020 Figeac looks to offer good value at release,’ said Liv-ex analysts. 

Its said Figeac 2020’s ex-Bordeaux price was around 30% higher than the debut price of its 2019 vintage in last year’s en primeur campaign. 

However, the 97-point Figeac 2019 has risen in price since release, meaning it is currently trading significantly above the 2020 grand vin, according to Liv-ex market price data.

This is an example of how release prices have generally increased on an ex-Bordeaux basis in this year’s 2020 en primeur campaign, but that the picture is more nuanced when comparing current market prices for individual estates’ wines.

Liv-ex market price data showed the 2020 was also slightly cheaper than Figeac 2018, which recently received 98 points from Anson.  

Anson said the 96-point Figeac 2020 is ‘an extremely elegant and controlled wine’, and is the first vintage produced in the St-Emilion premier grand cru classé B estate’s new cellars. 

She added, ‘Tannins are finely layered but there are a lot of them. Not an exuberant Figeac, but this is rarely a wine that rushes out to seduce. It takes its time and has ageing potential in spades.’

Analyst group Wine Lister said, ‘Though there exists similarly-priced availability of both 2015 and 2010, Figeac’s style evolution and upward trajectory in terms of market demand should mean this works very well, particularly as it provides a more up-beat end to a week of punchy price increases.’

Decanter Premium exclusive: Bordeaux 2020 releases and prices

La Conseillante 2020 released 

Another big Right Bank release this morning was Pomerol’s Château La Conseillante 2020, scored 96 points by Anson. 

‘There are some beautifully fragrant floral aromatics here with concentration through the mid palate and effortless balance,’ she wrote. 

Conseillante 2020 was released at the same price as Figeac, so €156 ex-Bordeaux and around £1,872 per 12-bottle case in bond at UK merchants.

Liv-ex said the ex-Bordeaux price was 30% up on the 2019 opening price, and the 2020 was also above its market price for the 97-point 2019 wine.

Prices can vary for back-vintages. Fine & Rare was offering six-bottle cases of La Conseillante 2019 at roughly the same price as the estate’s 2020 vintage.

Sales snapshot: First growth releases this week 

It’s been a big week for the Bordeaux 2020 en primeur campaign, with three of the 1855 first growths launching their 2020 wines alongside many other classified estates.

It’s early days in terms of analysing buyer demand, but Château Margaux 2020 appeared to do well.

Farr Vintners listed it as ‘sold out’, while others praised the price of the 2020 release, which was named ‘Left Bank wine of the vintage’ by Jane Anson. 

Of the other two first growths out this week, Farr Vintners was selling Mouton Rothschild 2020 ‘on allocation’ and listed Haut-Brion as ‘sold out’. 

Of these two first growths, Matthew O’Connell, head of investment at Bordeaux Index, told Decanter on Thursday (24 June), ‘There has been a good amount of interest for both Haut-Brion and Mouton, but not at the sort of demand levels seen last year given the prices.’  

He added, ‘We have seen some buyers looking at other recent vintages where they have seen new release pricing as marginal.’ 

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The post Figeac 2020 release price ‘looks good value’ appeared first on Decanter.

Château Mouton Rothschild 2020 was released en primeur at €432 per bottle ex-Bordeaux this morning (24 June), according to Liv-ex. 

It said UK merchants were offering the first growth for around £5,196 per 12-bottle case in bond, broadly level with the initial release prices of Château Margaux and Château Haut-Brion earlier this week. 

‘[This] could go to 100 points after ageing,’ said Decanter’s Jane Anson after tasting a Mouton 2020 barrel sample. She gave a score of 98 points, but wines will be reassessed after bottling in approximately 18 months. 

On an ex-Bordeaux basis, there has been a clear trend for price increases across this en primeur campaign, versus the 2019-vintage releases.

However, the market picture is mixed. Several wines have sold well and, in a number of cases, prices for 2019 wines have risen since initial release.

Decanter Premium exclusive: Bordeaux 2020 releases and prices

Mouton Rothschild 2020’s ex-Bordeaux price (€ per bottle) was 53% up on the corresponding release price of the 98-point Mouton 2019, according to Liv-ex. 

But it said the 2020 was being offered by UK-based merchants at only a relatively small premium to the 2019 vintage. Its market price data also showed that Mouton 2020 was cheaper than the 2018 vintage, rated 100 points by Anson, and also the highly regarded 2016 wine.

For any buyers interested in previous vintages, Liv-ex said 2019 and 2014 ‘look compelling’. 

In her tasting note on Mouton 2020, Anson wrote, ‘As the wine relaxes in the glass, it becomes more and more signature Mouton, full of exuberance, finesse and pleasure.

‘There is less sweet black cherry fruit than in a year like 2018 or 2019, more on the cassis and bilberry side. It will behave in a more classical manner in the decades to come.’

Analyst group Wine Lister said it expected the Mouton 2020 release to do well on the market, although it said ‘buyers looking for something to drink sooner might note small stocks available of the 2015 below the price of the 2019’.

Le Petit Mouton 2020 was also released en primeur this morning, scored 93 points by Anson. ‘A serious Petit Mouton, with inky depths to the colour, and plenty of tannic hold and bite,’ she wrote. It was being sold for £2,040 per 12-bottle case in bond, according to Liv-ex.

‘Amazing’ Ducru-Beaucaillou 2020 released

Ducru-Beaucaillou 2020 was also released this morning, price at around £1,920 per 12 bottles in bond, according to Liv-ex.

It quoted an ex-Bordeaux release price of €160 per bottle, up by 40% on the equivalent opening price of the 2019 vintage.

‘An amazing Ducru, one of the wines of the vintage,’ said Anson, giving 98 points to the St-Julien second growth’s grand vin. 

Liv-ex said the wine was priced above the 98-point Ducru-Beaucaillou 2019, as well as many recent vintages.

Wine Lister said of the release, ‘Buyers looking for something with age might note availability of the 2010 at the same price as the latest release, which has a decade under its belt.’

Fellow St-Julien estate Léoville Poyferré also released its 2020 vintage today, with Liv-ex reporting a price of £864 per 12-bottle case in bond. Its ex-Bordeaux price was €72 per bottle, up by 46% on the corresponding debut price of the 2019 vintage.

Anson rated Léoville Poyferré 2020 at 96 points, equal to her ratings on the 2019 and 2018 wines. ‘Rich and concentrated with violet reflections and a wall of tannins,’ she wrote of the 2020 vintage, adding that ‘it will need time to soften and develop’.

It’s been a big week or so for the Bordeaux 2020 en primeur campaign.

Since Lafite Rothschild 2020 made its debut on 11 June, many other classified estates on the Left Bank have released their wines, as well as several more top names on the Right Bank.

Alongside first growths this week, Left Bank releases include Cos d’Estournel, Montrose, Palmer, Smith-Haut-Lafitte and Léoville-Las-Cases have joined the campaign.

Haut-Bailly 2020 was released yesterday afternoon (23 June), with Liv-ex quoting an ex-Bordeaux price of £1,152 per 12-bottle case in bond. That puts it ahead of the 2019 price on the market, according to Liv-ex data, but the wine has also impressed critics.

Anson gave the wine 96 points and said it has ‘strong potential for upscoring when in the bottle’. She said the vintage suited Haut-Bailly’s style.

‘Rich in texture and colour, this has clear layers and complexity, a wine that you want to take your time with, slow down and enjoy,’ she said.

NB: Latour, the 1855 first growth, no longer releases en primeur wines.

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The post Mouton Rothschild 2020 released: A future 100-point wine? appeared first on Decanter.

Château Haut-Brion 2020 red has been released en primeur this morning (23 June) at €432 per bottle ex-Bordeaux, according to Liv-ex, which has led to UK merchants offering it for around £5,196 per 12-bottle case in bond.

That’s equal to the release price of fellow first growth Château Margaux yesterday.

Millesima UK was offering three bottles of Haut-Brion for £1,299 in bond, with Fine & Rare selling six bottles for £2,598.

While Haut-Brion has achieved strong critical praise for its 2020 grand vin, scores have varied slightly.

Decanter’s Jane Anson rated Haut-Brion 2020 at 96 points, describing it as impressive and ‘concentrated, powerful and precise’, with notes of cassis bud, chocolate and blackcurrant pastille.

‘This is going to need serious ageing,’ she wrote. Her scores were slightly higher on Haut-Brion 2019 and 2018 vintages.

Liv-ex noted strong critical acclaim for Haut-Brion 2020, but also that Haut-Brion’s ex-Bordeaux price was up by around 50% on last year’s en primeur release of the 2019 vintage.

Like many estates, the first growth dropped its price significantly during last year’s delayed en primeur campaign, amid concerns around the economic impact of Covid.

The 2019 vintage has since risen in price, although Liv-ex market price data showed the 2020 was slightly above both the 2019 and 2018 wines. ‘The 2020 Haut-Brion is the most expensive wine from the estate since the 2010 vintage,’ Liv-ex said. Prices can vary by merchant, however.

Decanter Premium exclusive: Bordeaux 2020 releases and prices

La Mission Haut-Brion 2020: One to watch?

Anson suggested after her tasting that buyers should also track La Mission Haut-Brion 2020 red, which was also released this morning amid market debuts for the wines of Haut-Brion owner Domaine Clarence Dillon.

La Mission was priced at £3,024 per 12 bottles in bond, according to Liv-ex.

Anson scored the wine 98 points, her highest rating since the 2016 vintage.

Prior to its release, she wrote in her tasting note, ‘This is the wine to go for in the [Haut-Brion owner] Domaine Clarence Dillon stable this year.’ She praised its ‘kick of black fruit and confident spice’.

While La Mission Haut-Brion 2020’s ex-Bordeaux price was €252 per bottle, up 40% on the corresponding debut price for the 2019 wine, Liv-ex said the 2020 was still slightly under the current market price of the 2019 vintage.

Analyst group Wine Lister said La Mission 2020 ‘could be an attractive buy’.

Château Montrose 2020 release price

Château Montrose, owned by the Bouygues brothers since 2006, also received a 98-point score from Anson for its 2020 vintage, equal with her rating for the St-Estèphe estate’s 2019 and 2018 grands vins.

‘This is a great Montrose, inky, broad-shouldered and structured,’ said Anson. ‘This will need a long time and will reward patience.’

Montrose 2020 was released today at €128 per bottle ex-Bordeaux, up by 33% on the 2019 release, according to Liv-ex. It was being offered by merchants for around £1,540 per case, which Liv-ex said was around 28% higher than its current market price for the 2019 wine.

Wine Lister said Montrose 2020 was pitched above the price of many recent vintages, apart from 2016, but also noted the estate’s ‘relatively low price in the context of  Bordeaux’. It added, ‘This could work for en primeur buyers who are fans of Montrose, and its appellation at large.’

Haut-Brion Blanc 2020 makes debut

Also released en primeur today was Haut-Brion blanc 2020, rated 96 points by Anson, who praised its ‘excellent persistency and a deliciously mouthwatering finish’.

It was being offered by merchants at £7,200 per 12-bottle case in bond, having been released at €600 per bottle ex-Bordeaux, according to Liv-ex.

Other Domaine Clarence Dillon releases today

Haut-Brion’s second wine, La Clarence de Haut-Brion 2020, was among the other releases from the portfolio released en primeur today.

It was being offered for £1,440 by merchants, according to Liv-ex, with Anson scoring the wine at 92 points.

On the Right Bank, Clarence Dillion’s Château Quintus 2020 in St-Emilion was released this morning at €78 per bottle ex-Bordeaux, up by around 16% on the opening price of the 2019 vintage, according to Liv-ex. That translated to a UK price of £924 per 12-bottle case in bond.

Anson gave the wine 93 points, describing it as ‘full of signature St-Emilion glamour’, although the 2018 and 2019 vintages achieved slightly higher scores – 94 and 95 respectively.

It is anticipated that there could be more big-name releases in the Bordeaux 2020 en primeur campaign in the coming days.

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The post Château Haut-Brion 2020 released en primeur appeared first on Decanter.

Château Margaux 2020 was released en primeur this morning (22 June) at €432 per bottle ex-Bordeaux, translating to a UK merchant price of £5,196 per 12-bottle case in bond, according to Liv-ex.

Liv-ex said that puts Margaux 2020 slightly below its current market price for Margaux 2019 (98 points, Anson), even though the 2020’s ex-Bordeaux price was up by around 30% on the equivalent 2019 release price last year. 

‘The new release looks good value among current physical vintages,’ it said.

Matthew O’Connell, head of investment at merchant Bordeaux Index, said careful allocations of the Margaux 2020 release were likely given it is ‘clearly one of the wines of the vintage and with a more balanced price than many of the other releases’.

UK merchant Fine & Rare was offering Margaux 2020 on a ‘request an allocation’ basis early this morning, with Farr Vintners operating a ‘waiting list’ for the wine. 

Thomas Parker, buyer at Farr, told Decanter, ‘At the moment we are trying to secure as much stock as possible to allocate our pre-orders. At that point we would offer to wish-listers, and if we have any over we will offer for general sale.’

Jane Anson gave 99 points to Margaux 2020 after tasting it en primeur, naming it in her verdict on Bordeaux 2020 as her ‘Left Bank wine of the vintage’. 

‘A brilliant Margaux,’ Anson said in her tasting note.

‘You get the concentration of the vintage in an entirely positive light, with a suave softness to the tannins that makes it stand head and shoulders above many others.’

Analyst group Wine Lister said of the Margaux 2020 release, ‘Though there is not much wiggle room in pricing relative to recent back vintages, high praise from all critics in 2020 should encourage Bordeaux en primeur buyers to take up their allocation of this first growth if they’re lucky enough to have one.’

Decanter Premium exclusive: Bordeaux 2020 releases and prices

Margaux is only the second of the first growths to release in this year’s Bordeaux en primeur campaign, following a debut for Château Lafite Rothschild 2020 on 11 June.

Will Hargrove, head of fine wine at Corney & Barrow, said shortly after that release that the ‘Lafite stable sold well’, although the en primeur campaign overall had been more of a ‘mixed bag’.

Price watch: Palmer, Léoville-Las-Cases, Smith Haut Lafitte 2020 also released

Recent days have seen more big-name releases, and Margaux has been joined this morning by a number of other top estates on the Left Bank, in particular.

There is now a clear trend for price rises versus the 2019 releases during last year’s delayed en primeur campaign, but 2020 wines must also be weighed against current market prices, availability of back-vintages and ratings, too.

Palmer 2020 released with price jump vs 2019

Château Palmer 2020 was released at €240 per bottle ex-Bordeaux, which is a 49% jump on the corresponding 2019 vintage release price but equal with the 2018 release, according to Liv-ex.

Anson rated Palmer 2020 at 97 points, praising its balance of intensity and elegance. The texture is ‘velvety and seductive with softly-grained tannins’, she said.

The Margaux third growth’s 2020 wine was being sold by UK merchants at £2,880 per 12-bottle case in bond, making it more expensive than the current price for 2019 (98 points) but cheaper than the 100-point 2018 vintage, Liv-ex figures showed.

At Bordeaux Index, O’Connell said of the release, ‘While the price is up very significantly on 2019, [Palmer] does have particularly interesting market momentum at the moment and we are interested in how this release will sell and also trade subsequently.’

Wine Lister said that, alongside critical praise, ‘virtually no 2019 remains available’ and that the 2018 vintage was trading ‘at double the wine’s usual average across all vintages’, leading it to suggest that 2020 ‘could work among fans of the estate’.

Smith Haut Lafitte 2020 ‘sold well’

Another top name also out this morning was Château Smith Haut Lafitte 2020 red, rated 97 points by Jane Anson, who described the wine as ‘delivering a masterclass in restrained Pessac-Léognan glamour’.

Liv-ex said the wine was being offered at £1,152 per 12 bottles in bond. On an ex-Bordeaux basis, it said the wine was released at €96 per bottle, up 48% on the equivalent release price for the 2019 wine.

Commenting prior to the Palmer release, Liv-ex said, ‘This is the biggest price increase during this en primeur campaign so far. However, some critic scores suggest this price still offers fair value.’

Smith Haut Lafitte has said its 2020 vintage will be bottled with a special gold and black label design; the vintage marks estate owners Florence and Daniel Cathiard’s 30th harvest, and 2020 has also achieved strong scores. 

O’Connell said the wine sold well, driven by its high scores. 

Léoville-Las-Cases 2020 released

Léoville-Las-Cases 2020 was being offered by UK-based merchants at £2,376 (12x 75cl in bond). On an ex-Bordeaux basis, Liv-ex said it was released at €148 per bottle, up 43.5% on the equivalent 2019 release price.

‘The new release looks fully priced in the context of the estate’s recent back vintages,’ said Liv-ex.

Anson rated the 2020 wine at 96 points, praising its subtle intensity and classic St-Julien character as ‘an excellent example of what Las Cases can deliver’. She added, however, ‘You are going to need a lot of patience for this vintage to reach its drinking window.’

There was anticipation that more top names, and possibly more first growths, could release their 2020 wines this week.

Updated 22 June at 12:20pm UK time with new comments from merchants and release information on Palmer and Léoville-Las-Cases.

Read more Bordeaux 2020 en primeur articles

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The post 'Brilliant' Château Margaux 2020 released en primeur appeared first on Decanter.

St-Estèphe second growth Château Cos d’Estournel’s 2020 release was being sold by the trade for £1,800 per 12-bottle case, according to Liv-ex, 31.6% higher than the current market price of the estate’s 2019 wine.

According to Decanter’s Jane Anson, the 2020 Cos is ‘a long hauler’. Awarding it 97 points, she said: ‘The tannins build slowly but surely through the palate, sombre and serious right now, particularly for an estate that is known for its exuberance. The opulence is there if you give it time.’

Liv-ex suggested Cos wines from 2016, 2014 and 2019 as alternatives, but also highlighted the release of the 2020 in a special bottle to mark the 20th anniversary of Michel Reybier’s acquisition of the estate, and a reported 25% reduction in volumes versus 2019. ‘Its commemorative bottling and reduced volumes might add to its allure,’ Liv-ex said.

Also released were the 2020 Blanc de Cos d’Estournel at £96/bottle – a ‘gastronomic and serious’ wine, said Anson, giving it a 95-point score – and second wine Les Pagodes de Cos, which was being sold at £372/case, equal to the current market price of the 2019, and was described by Anson as ‘precise and confident’.

Château La Fleur-Pétrus’ 2020 wine, which was being sold by merchants at £1,950/case, scored 97 points with Anson, who said: ‘The frame is both tactile and fresh, a brilliant La Fleur-Pétrus full of character and spice, bedded down but with a sense of energy and uplift.’

Liv-ex pointed out that the 2020 release price was 17% up on the current market price of the Pomerol estate’s 2019 wine, adding that the 2019, 2015 and 2012 vintages looked ‘better value by comparison’.

Decanter Premium exclusive: Bordeaux 2020 releases and prices

Turning to St-Emilion, Clos Fourtet’s 2020 wine was being sold by merchants at £78.25 a bottle, up 14% on the 2019, reported Wine Lister.

The wine secured a 96-point score from Anson, who praised its ‘tightrope walking concentration of fruits’, adding: ‘An excellent Clos Fourtet, with a juicy edge where the magic of limestone in dry summers is very much showing through.’

‘At £78.25, the 2020 enters the market at a 23% discount on the 2018, while offering a higher average critics’ score,’ added Wine Lister. ‘Achieving the highest perceived quality since the 2016 vintage, this may well garner attention of St-Emilion lovers and beyond.’

Château Pavie-Macquin’s 2020 wine has been released at €57.60 per bottle ex-négociant, or £57.50 from merchants, 21.1% higher than the current market price of the estate’s 2019.

Liv-ex highlighted 2012, 2016, 2018 and 2019 as potentially good-value alternatives, while Anson gave the 2020 a score of 95 points, observing: ‘There is a richness here, a powerful spread of black fruits, that grabs you from the start.

‘This has texture and brambled power, sappy saline on the finish, touches of austerity, graphite laced through with grilled cassis and aniseed.’

The post Cos d’Estournel and La Fleur-Pétrus release 2020 prices appeared first on Decanter.

Château Canon 2020, Jane Anson’s ‘Right Bank wine of the vintage‘, was being sold for around £1,152 per 12-bottle case in bond after being released in the Bordeaux en primeur campaign this morning (18 June).

It’s the latest of several potential 100-point wines to be released in the Bordeaux 2020 en primeur season.

On an ex-Bordeaux basis, Liv-ex said the release price was €96 per bottle. That’s more than 30% higher than the equivalent release price for the 2019 vintage.

However, some UK merchants were this week selling the 2019 at prices comparable to or even slightly above the 2020 opening price. Justerini & Brooks was selling six bottles for £640 in bond, with Millesima selling six for £546, for example.

Decanter’s Jane Anson gave Canon 2020 99 points and said it has the potential to hit a perfect 100 score further down the line. Anson does not award 100 points at en primeur, reserving this for when the wines have been tasted after bottling – in around 18 months.

This, nevertheless, puts the 2020 right up there with the best Canon vintages and continues a good run of form at the Chanel-owned St-Emilion 1er Grand Cru Classé B estate.

Analyst group Wine Lister said, ‘With demand for Canon continuing to thrive, and with strong aftermarket performance of similar quality vintages (2015 and 2016), buyers should do well to purchase the potential 100-point 2020 now (and perhaps pick up the 2018 before it further appreciates as well).’

Liv-ex noted, ‘The 2020 offers good value for money when compared to the highly scored 2015 vintage.’

More big-name St-Emilion wines enter en primeur campaign

Other releases on Friday (18 June) made it a big day for St-Emilion 1er Grand Cru Classé ‘B’ estates.

Château Troplong Mondot 2020 was being sold for around £864 per 12 bottles in bond, according to Liv-ex. Anson gave Troplong Mondot 2020 97 points, her highest rating for the estate of the past five vintages.

‘Inky in colour, this is utterly gorgeous, so much purity and definition on the nose,’ said wrote of the wine, which emphasises why several market observers regard Troplong Mondot as one to watch in general.

Liv-ex said the 2020 was above its market price for the 2019 vintage, but still below the prices of the 2016 and 2015 vintages – highly regarded on the Right Bank.

Bélair-Monange 2020 was also released, having been rated 99 points by Anson, two points higher than both the 2019 and 2018 vintages.

It was being sold for £1,450 per 12 bottles in bond, according to Liv-ex, which said this was above the 2019 vintage market price – and, according to its data, one of the priciest recent vintages available.

Earlier in the day, Valandraud 2020 joined the campaign. ‘This is excellent, broad-shouldered with ample depth to the brambled fruits, liquorice, cigar box spice, with a gorgeously saline finish,’ said Anson, giving the wine 96 points. She gave the 2019 vintage 97 points. The 2020 was released at £1,278 per 12 bottles in bond.

Elsewhere, today saw releases for Calon-Ségur 2020, rated 98 points by Anson, who said the vintage marks a ‘return to form’ for the St-Estèphe estate and that the wine is comparable to the well-regarded 2016.

Liv-ex said merchants were selling Calon-Ségur 2020 for £938 (12x 75cl in bond). Its market price data said this was cheaper than 2018 and 2016 but up on the current price of 2019.

Read more about Bordeaux 2020 en primeur

‘Highly successful’ Pontet-Canet 2020 released

Ausone 2020, a possible 100-point wine, released en primeur

See our Bordeaux 2020 vintage verdict

The post Canon 2020 released with '100-point potential' appeared first on Decanter.

Château Pontet-Canet 2020 became the latest big-name Pauillac to join the Bordeaux en primeur campaign this morning (17 June). 

Fine & Rare was offering six bottles for £445 in bond, with Bordeaux Index selling 12-bottle cases for £890. 

Jane Anson rated the wine at 97 points, her highest Pontet-Canet score since 2016. She said in her note on the 2020 vintage, ‘One of the few Pauillacs that, for me, overperforms on its 2019.’

On an ex-Bordeaux basis, the 2020 was released at €74.4 per bottle, up 28% on the equivalent release price in 2019 but still below the 2018 release price, according to Liv-ex figures. 

The biodynamically-farmed estate was one of the several châteaux that significantly reduced its price for the 2019 release during a delayed en primeur campaign last summer. 

This year, there has been a growing trend for price rises in the 2020 campaign so far, albeit to varying degrees. 

Several market observers point out, too, that it’s important to consider back-vintage availability and current market pricing on similarly-rated years when assessing a release. Some 2019 wines have risen in price since release, for instance.

Analyst group Wine Lister said Pontet-Canet’s 2020 release price is, for example, cheaper than the market prices of the 2019 and 2018 vintages, ‘depending on where you buy’. Given the 2020’s high score, ‘this will likely work’ on the market, Lister said. 

Pauillac in general has dominated the last 24 hours of this year’s en primeur campaign. 

Pichon Baron 2020, rated 96 points by Anson, was also released today, at around £1,327 per 12-bottle case in bond. On an ex-Bordeaux basis, the wine was €110.4 per bottle, up by 16.5% on the 2019 release price but still slightly under the 2018 price, according to Liv-ex figures.

UK prices by the case varied on the 97-point Pichon Baron 2019, making it either slightly cheaper or more expensive than the 2020 depending on the merchant.

Those two releases follow the launch of Lynch-Bages 2020 (96 points) and Pichon Comtesse de Lalande 2020 (96 points) yesterday (16 June).  

Matthew O’Connell, head of investment at Bordeaux Index, told Decanter that both of those wines sold well. 

‘We saw the pricing on these as somewhat marginal based on the 2015 and 2019 levels, two particularly relevant benchmarks we are looking at. However, the strong trajectory of Pichon Lalande and the very loyal following of Lynch-Bages has meant that the wines have sold well to collectors.’

Anson heaped praise on both wines, describing the Pichon Lalande 2020 as ‘one of the best of the appellation’ and Lynch-Bages, too, as ‘easily one of the best Pauillacs that I have tasted in the vintage, totally gorgeous’.

According to Liv-ex, Lynch-Bages 2020 was being offered for £1,040 (12x75cl in bond). On an ex-Bordeaux basis, the wine was released at €90 per bottle, up by 36% on the equivalent 2019 release price.

Pichon Lalande 2020 was being sold for £1,614 (12x75cl in bond). Liv-ex said the ex-Bordeaux price was €132 per bottle, up by 26% on the equivalent 2019 release price.

Wine Lister said that, in pound sterling terms, the 2019 has risen significantly in price since its release, with scarce availability. 

Other releases have included Château Pape Clément 2020 red and also white, both rated 94 points. Anson gave 95 points to the 2019 red wine, but she also described 2020 as ‘impressive, a really enjoyable, classically wrought but still full of concentration Pape Clément’.

According to Liv-ex the 2020 red was being sold for £752 per 12-bottle case in bond. 

Château Clinet 2020 in Pomerol was also released, rated 95 points by Anson, who described it as powerful and a ‘big, seductive wine’. Clinet was being sold for around £798 per 12-bottle case in bond, according to Liv-ex, which puts it below the current market price of the 95-point 2019 vintage.

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Jane Anson’s verdict on Bordeaux 2020

See the latest Bordeaux 2020 release news

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Château Ausone 2020 has been released this morning (Tuesday 15 June) at around £6,000 per 12-bottle case in bond.

That’s up by around 14% on the current market price of Ausone 2019, according to Liv-ex figures, but cheaper than the 100-point 2018 vintage from the St-Emilion Premier Grand Cru Classé A estate. 

Decanter’s Jane Anson gave Ausone 2020 99 points after tasting a barrel sample ahead of the Bordeaux en primeur campaign. She will taste the wine again after bottling and said it could go up to the perfect 100 score.

‘This is powerful and blows away much of the competition with its depth and layers,’ she said. 

On an ex-Bordeaux basis, Liv-ex said Ausone 2020 was released at around €500 per bottle, which is up 19% on the 2019 vintage release price. 

‘This is a wine worth betting on,’ said analyst group Wine Lister. While a small amount of Ausone 2019 vintage still exists at its original price, it said the 2020 vintage release is ‘otherwise comfortably below market prices of the physical 2018, 2016, and 2015’.

Château Ausone is the last of the four St-Emilion Premier Grand Cru Classé A estates to release, after Cheval Blanc helped to kick-start the Bordeaux 2020 en primeur campaign last month.

Angélus and Pavie followed closely behind, as the early stages of the campaign were largely dominated by top Right Bank names.

Les Carmes Haut-Brion 2020 one to watch?

Among the other releases so far this week was Les Carmes Haut-Brion in Pessac-Léognan.

Anson rated Les Carmes Haut-Brion 2020 at 96 points, equal to her rating of the estate’s 2019 vintage.

The Château has a recent track record of ‘impeccable price performance post-en primeur release’, as Wine Lister put it.

Liv-ex said Les Carmes Haut-Brion 2020 was released at €78 per bottle ex-Bordeaux, up 20% on the debut price of the 2019.

Yet the 2020 vintage was available for £948 per 12-bottle case in bond at UK merchants, around 10% less than the current market price of Les Carmes 2019, Liv-ex noted. It’s also cheaper than the 98-point 2018 vintage.

Other releases: Brane-Cantenac and Trotte Vieille

Anson also lavished praise on a number of other wines released this week. She rated Trotte Vieille 2020 at 96 points, equal to the St-Emilion Premier Grand Cru Classé B estate 2018 score and one up on 2019.

Trotte Vieille 2020 was being offered at £650 per 12 bottles in bond (Farr Vintners, Bordeaux Index), and Wine Lister said this was ‘below all recent vintages in the market going back to 2013’.

Château Brane-Cantenac 2020, rated 94 points, was also released at at €48 per bottle ex-Bordeaux, up by 21% on the 2019 release price.

According to Liv-ex figures, the international trade price of £600 per 12 bottles in bond is 20.5% higher than the market price of the 2019 vintage, rated 96 points by Anson.

Other releases have included fellow Margaux estate Château Giscours. Anson described Giscours 2020 as ‘excellent’ and ‘extremely precise, well drawn and seductive’. She rated the wine at 95 points, ahead of both 2019 and 2018.

Giscours 2020 was released ex-Bordeaux at €40.8 per bottle, up 21.4% on the equivalent 2019 release price. It was being offered by international merchants at £492 per 12-bottle case in bond, 17% up on the 2019 market price, according to Liv-ex data.

Over on the Left Bank, Château Lafite Rothschild released its 2020 vintage en primeur at the end of last week, ahead of the other first growths.

Will Hargrove, head of fine wine at Corney & Barrow merchant, told Decanter yesterday that the Lafite stable of 2020 wines sold well after release.

He described the overall campaign as a ‘mixed bag’ so far. ‘We had good early success with the Moueix wines and Mitjavile wines as they were the same price as last year and released early.’

More on Bordeaux 2020 en primeur

Decanter Premium exclusive: Bordeaux 2020 scores table

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The Pauillac domaine is one of a quartet of châteaux from Les Domaines Barons de Rothschild (Lafite) to confirm their 2020 release prices today (11 June), alongside second wine Carruades de Lafite, L’Evangile from Pomerol and Pauillac’s Duhart-Milon.

Lafite’s release price of €475 ex-négociant is up 20% on 2019, said Liv-ex, pointing out that it sits at a significantly lower price to the lower-rated 2015 vintage, which is €545.

An impressed Jane Anson of Decanter gave Lafite Rothschild 2020 97 points, saying: ‘The kaleidoscope of flavours and aromatics that Lafite does so well is fully on display, nothing trying too hard, a velvet texture to the tannins, where the cassis fruit, earth, crushed stone and graphite is held in from beginning to end.’

The international trade is offering the wine at about £490 per bottle, 8% down on the 2019, which has appreciated in value by 15% over the past year, said Wine Lister – which pointed out that the 2020 falls ‘well below’ the market prices of comparable recent vintages, such as 2018 and 2016. ‘This should soar,’ Wine Lister added.

Carruades de Lafite 2020 has been released with a UK merchant price of about £177 per bottle, with Anson praising its ‘ton of impact and intensity’, giving a score of 92 points.

‘As ever with this excellent price performer, the 2020 vintage comes onto the market comfortably under all recent back vintages available, and should be snapped up quickly,’ said Wine Lister.

Turning to Pomerol, Château l’Evangile has been released at €180 ex-négociant, 33% higher than 2019’s opening price, prompting Liv-ex to highlight ‘multiple recent vintages’ of similar quality, available at lower prices.

Anson awarded the wine a high score of 98, calling it ‘gorgeous’ and praising its ‘pristine fruit, silky with a whoosh of menthol’. She added: ‘It elevates over the palate, both dense and light, with blueberry and raspberry fruits, and pulses of bitter almond and honeysuckle on the finish that gives focus and spice.’

Château Gruaud-Larose’s release price of €57.60 ex-négociant translates to a merchant price of about £58 per bottle, about 4% above the current prices of the 2019 and 2018 vintages, according to Wine Lister.

Giving the wine 95 points, Anson described it as ‘a big-shouldered St-Julien, but with a wide nuance of flavours’.

Liv-ex suggested that buyers might like to look at the 2016 vintage as a more affordable alternative.

St-Estèphe’s Château Phélan Ségur has been released with a merchant price of about £32 per bottle, said Liv-ex, up 17.4% on the current market price of the 2019 – which it said presented a ‘compelling’ alternative.

Awarding the 2020 wine 94 points, Anson described it as ‘excellent stuff’, adding: ‘The austerity to the tannins works in this wine’s favour, giving a juicy grip to the concentrated blackcurrant and bilberry fruits without strangling them.’

Among other recent releases, DBR (Lafite)-owned Château Duhart-Milon is being offered at about £57 per bottle, 9.6% higher than the current market price of the 2019, with ‘several back vintages’ appearing to offer better value, said Liv-ex.

St-Julien’s Château Talbot – like Duhart-Milon, awarded 95 points by Anson – has been released at about £39.90 per bottle, 8% up on the current price of the 2019.

Finally, Château Rauzan-Ségla from Margaux, scored at 96 points by Anson, is available for about £66.50 per bottle, 11% higher than remaining stocks of the 2019.

*Article corrected to say Lafite Rothschild 2020 is at a significantly lower price than the 2015, not a similar price. 

More on Bordeaux 2020 en primeur

Decanter Premium exclusive: Bordeaux 2020 score table

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Pauillac’s Château Grand-Puy-Lacoste has been released at €50.40 per bottle ex-négociant, and is being offered at about £50.60 by UK merchants, according to Wine Lister – 12% higher than the current market price of the 2019.

Scoring the 2020 at 95 points, Decanter’s Jane Anson described the wine as ‘enjoyable, powerful, concentrated – not the most generous of GPLs, but they have captured the essence of Pauillac, and it’s hard to resist’.

Wine Lister highlighted the market availability of the 2019 vintage, as well as the physically available 2016 – priced at a slight premium to 2020, but with higher critics’ scores.

Another Pauillac favourite, Château Clerc Milon’s 2020 wine is priced at €56.40 per bottle ex-négociant, or £57.50 with UK merchants, 11% higher than the current market value of the 2019.

For Anson, the 2020 is ‘powerful, a little austere, with tight black fruits that will benefit from adding flesh over ageing’. Awarding it 94 points, she said the wine was ‘good quality, [but] not as exuberant as some years of Clerc Milon’.

Wine Lister pointed to Clerc Milon’s 2019 wine – with similar scores and availability – and the 2016, currently sitting at about the same price.

In St-Emilion, Château La Gaffelière’s 2020 wine is being offered by the trade at about £48 per bottle, 5.6% below the current market value of its 2019 release, said Liv-ex, describing it as ‘good value for money’, although older vintages are available for less.

Jane Anson gave the 2020 release 95 points, lauding its ‘expert balance between power and finesse’, describing it as ‘just gorgeously juicy’ and adding: ‘This again proves why it is an estate to watch.’

Wine Lister highlighted the 17% increase in the price of the 2019 vintage since its release, adding: ‘The property’s upward trajectory and increasing interest from the trade could see good demand for this latest release.’

Back to Pauillac, and Château Haut-Batailley – now under the ownership of the Cazes family – has released its 2020 wine at about £39.76 with UK merchants, roughly 10% up on 2019. Liv-ex highlighted the ‘value’ of the estate’s 2019 wine, as well as the merits of older vintages such as 2014 and 2015.

The 2020 release is ‘an enjoyably sleek wine’, according to Jane Anson, who gave it 93 points and added: ‘This has an elegance to it that almost makes it more of a St-Julien’, especially when compared to sister property Lynch Bages.

Château Cantenac Brown’s offer of €34.20 per bottle ex-négociant is 14% ahead of its 2019 release price, with the UK trade offering it at £34.35 per bottle.

Anson praised the Margaux wine’s ‘signature gloss’, awarding the 2020 93 points and adding: ‘The austerity on the tannins is marked right now, but there is plenty of life ahead here.’

Wine Lister said the 2020 was entering the market at about the same level as the now scarce 2019. ‘Taking into account the high scores, as well as the future potential of this estate … this could be a Margaux worth backing,’ it added.

Among other recent en primeur releases, Château de Fieuzal’s 2020 red wine is being sold by the trade at about £25.30 per bottle, 12% higher than the 2019, while the Pessac-Léognan estate’s white is priced at about £35, similar to last year’s release.

Château Ducru-Beaucaillou’s second wine, La Croix Ducru-Beaucaillou, is being offered at about £30 by the international trade, said Liv-ex, some 11% up on the market price of the 2019.

Château St Pierre’s 2020 was released at €38.40 ex-négociant, or £38.50 from merchants – a price which Liv-ex felt was ‘a little high’, despite Anson awarding it 94 points and praising its ‘gorgeous balance of power’.

Finally, Château Gloria 2020 is being sold by the trade at about £26.40 per bottle, up 5.6% on the current market price of the estate’s 2019 vintage.

More on Bordeaux 2020 en primeur

Decanter Premium exclusive: Bordeaux 2020 score table

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The 2020 vintage of Château Palmer’s second wine, Alter Ego de Palmer, is being offered by the trade at £606 per 12-bottle case in bond, according to Liv-ex, 16.5% higher than the current market price of the 2019 release.

Decanter’s Jane Anson awarded the 2020 wine from the Margaux property 93 points, praising its purity of fruit and ‘the gourmet touch you want in Alter Ego’, adding: ‘It’s a vintage where you can’t get away from the tannins, but here they have sinew and juice.’

Liv-ex noted that Alter Ego de Palmer 2019 – given 94 points by Anson – is selling at a 12% discount to the 2020, making it appear more favourable in price terms. ‘That said, production was hit again in 2020 by mildew pressure and the drought,’ it added. ‘Stock released is low and this is a wine which sees high demand.’

Pauillac’s Château Grand-Puy-Ducasse has released its 2020 wine at €24 ex-négociant, up 8.1% on the 2019 opening price, with the trade offering it at £300 per case, 8.7% ahead of the 2019 release’s current market price.

For Liv-ex, this makes both vintages ‘compelling’, while also highlighting the Pauillac domaine’s 2015 wine, available at a similar price.

Anson awarded the 2020 release 90 points, calling it ‘carefully made, with promise’, but adding: ‘This is extremely tight in its tannins, pretty austere and you need to take a beat to allow this to settle.’

In Pessac-Léognan, Château Malartic-Lagravière’s 2020 red and white releases are also being offered for less than 10% more than the current market price of the 2019s, with merchants pricing the red at £347/case – 5.5% up on 2019 – and the white at £432, 8% higher.

For Anson, Malartic-Lagravière’s 2020 red, scored at 94 points, is ‘one of the successes of the appellation’, thanks to its ‘silky texture and a finessed, fresh core that holds interest from beginning to end’.

She awarded the white 93 points, praising it as ‘measured and deft, and extremely easy to recommend’.

Liv-ex highlighted the red as offering particularly good value, noting that, while slightly more expensive than the 2019, it is priced at an 11% discount to the 2016, and 29% less than the 2010.

Among other new 2020 en primeur releases, Clos du Marquis has come out at €37.20 per bottle ex-négociant, almost 15% higher than 2019, and is being offered by merchants at £450 per case, 10% higher than the current market value of the 2019 – which makes the latter look like ‘good value’, according to Liv-ex.

Château Haut-Bages Libéral is being offered at £311/case, 9% higher than the 2019 release, while its €26.40 per bottle ex-négociant release price is nearly 16% up on 2019. Jane Anson gave the 2020 wine a score of 91 points.

Finally, tiny Margaux domaine Château Ferrière has released its 2020 wine at €27.60 ex-négociant, up 15% on 2019, with the trade offering the wine at £317 per 12-bottle case in bond.

Bordeaux 2020: The top scorers

New releases: Domaine de Chevalier and Gazin 2020 prices

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Domaine de Chevalier 2020 red was on sale en primeur this morning (3 June) for around £565 per 12-bottle case in bond, with the white at £797. 

Decanter’s Jane Anson gave the Chevalier 2020 red wine 95 points, describing it as ‘easily among the best Pessac’ wines of the vintage. 

She also rated the Chevalier 2020 white wine at 95 points. ‘An excellent white with precision, flesh and confidence, sure to age well,’ she wrote.

Liv-ex said the red wine’s release price made it 14% more expensive than the current market price for the Chevalier 2019 vintage, also scoring 95 points en primeur.

The 2020 red is cheaper than the 2018 vintage, scoring 96 with Anson, but Liv-ex said buyers looking for value in back-vintages might wish to consider the highly rated 2016 vintage.

On an ex-Bordeaux basis, the Chevalier red was released at €46.8 per bottle, 18% up on the 2019 release price. 

The Chevalier white wine was released at €66 per bottle ex-Bordeaux, up by 14% on the 2019 release price. Liv-ex said the UK merchant price (ex-London) was around 10% higher than the current market price of the lower-scoring 2019 vintage.

There have been signs this week that the Bordeaux 2020 en primeur releases campaign is picking up a bit of pace, after a lull following the initial burst from St-Emilion estates. 

Bordeaux 2020 prices vs 2019

It’s very early days in the campaign, although several châteaux have increased prices to varying degrees versus the 2019 vintage releases last year. 

Whether or not a wine sells, however, can depend heavily on the scores and market dynamics of the particular estate, including the availability and ratings of other recent vintages – not just 2019.

Many 2019 en primeur releases, delayed due to the Covid-19 pandemic, also saw big discounts versus the 2018 vintage en primeur campaign.

Gazin 2020 released   

Over in Pomerol, Gazin was released today at €56 per bottle ex-Bordeaux, up by 11% on the 2019 release price.

‘I love this, extremely classic Gazin, which has depth and pep, and a jaunty feel to the black fruits,’ wrote Anson, who rated Gazin 2020 at 94 points.

Liv-ex said merchants were selling Gazin 2020 for £673 (12x 75cl in bond), around the 7% above the current market price of the 93-point Gazin 2019 and broadly level with the estate’s 94-point 2018 vintage.

Liv-ex noted that the 94-point Gazin 2016 was cheaper than the new en primeur release and could be interesting for buyers seeking wines already in the bottle.

Lafleur in Pomerol and Beychevelle in St-Julien have been among the major releases of this week so far, both highly praised for the quality of their 2020 wines.

Other releases have included Chateau Lascombes 2020, rated 92 points by Anson and being sold for around £600 (12x 75cl in bond), up slightly on the 2019 price.  

Ormes de Pez 2020, rated 93 points – equal to 2019 and 2018 – was released at around £225 (12x 75cl in bond), 7% above the current market price of 2019, according to Liv-ex.

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Bordeaux 2020 wines: Our en primeur verdict

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Château Lafleur 2020 has entered the Bordeaux 2020 en primeur campaign with a price equivalent to £6,320 per 12-bottle case in bond, as quoted by Liv-ex.

Decanter’s Jane Anson rated Lafleur 2020 at 98 points. Despite a dry summer potentially affecting vines on gravel soils, ‘Lafleur has taken the vintage in its stride’, Anson said.

The price is up by around 9% on last year’s primeur release, according to Liv-ex, but its data shows the Lafleur 2020 is significantly cheaper than the 2019, 2018, 2016 and 2015 vintages.

‘The 2020 release, therefore, looks extremely good value versus recent releases.’

Analyst group Wine Lister added, ‘This is likely to fly so fast that many could miss it.’

Demand for the tiny volumes produced means that several vintages have become more expensive following release.

New St-Emilion releases

Big-name St-Emilion wines have set the early pace in the Bordeaux 2020 en primeur campaign, and this morning saw two more of the appellation’s well-known wines emerge: La Mondotte and Canon-la-Gaffelière.

Anson scored Canon-la-Gaffelière 2020 94 points (2019: 95 pts, 2018: 95 pts) , describing it as excellent and ‘concentrated and intense, with juicy liquorice and blackberry flavours dominant on the attack’.  

Bordeaux Index was selling the 2020 vintage en primeur for £653 (12x 75cl in bond), with Fine & Rare also selling six bottles for £326 in bond. It was €54 per bottle ex-Bordeaux, according to Liv-ex, up by around 10% on the 2019 release price.

Anson previously highlighted the 94-point mark as an area to watch for potential ‘best buys’.

Wine Lister said Canon-la-Gaffelière 2020 was slightly up on current 2019 price but more than 15% cheaper than the 2018 vintage. 

La Mondotte 2020, produced by Canon-la-Gaffelière, was also rated 94 points, equal to the 2019 score and one point up on La Mondotte 2018. 

Bordeaux Index was selling it for £1,596 (12x 75cl in bond), with Fine & Rare offering six-bottle cases for £798.

Wine Lister said it was around 10% up on the current price of the 2019, which had limited quantities available. 

Left Bank: Châteaux Beychevelle and d’Armailhac

Château Beychevelle 2020 has been released at €57.6 per bottle ex-Bordeaux, up by around 9% on the 2019 release price.

It was being offered for £695 (12x 75cl in bond), according to Liv-ex, which said both the 2020 and 2019 appeared to offer ‘good value for money’ versus earlier, more expensive vintages.

Anson rated Beychevelle 2020 94 points, adding that ‘it sits well within the successful run of vintages at Beychevelle’. That’s equal to her 2019 score, and one up on 2018.

Wine Lister noted its relative value versus back-vintages and also Beychevelle’s ‘strong post-release track record’ of price increases.

In Pauillac, Château d’Armailhac 2020 from the Baron Philippe de Rothschild (Mouton) stable was released on Tuesday 1 June. 

D’Armailhac 2020 was rated 93 points by Jane Anson, who said the wine was a little austere at first before then showing its character. ‘I really like this, it has a floral edge, a juice and freshness and sense of elegance,’ she said.

Liv-ex said the 2020 was £396 (12x 75cl in bond), up by around 6% on the current price of 2019, also rated 93 points by Anson. On an ex-Bordeaux basis, the 2020 was €32.4 per bottle, up by around 12% on the 2019 release.

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Bordeaux 2020 wines: Our en primeur verdict

Releases: Chanel’s Berliquet ‘one to watch’

Angélus, Pavie, Cheval Blanc, Léoville Barton lead early releases

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Château Berliquet 2020, rated 93 points by Jane Anson and produced by the team behind Canon and Rauzan-Ségla, was among the first releases in the Bordeaux 2020 en primeur campaign this week.

Fine & Rare was offering six bottles in bond for £218. 

Analyst group Wine Lister noted that Berliquet has been overseen by Nicolas Audebert of St-Emilion’s Canon and Margaux’s Rauzan-Ségla since being acquired by the owners of fashion house Chanel in 2017.

‘Berliquet is becoming a true St-Émilion gem to watch,’ it said. The vintage’s quality and the estate’s trajectory could make the 2020 ‘worth snapping up’, despite it being ‘the most expensive Berliquet on the market’, the group said.

Farr Vintners listed the wine as ‘sold out’ by Wednesday morning (26 May). 

Prieuré-Lichine 2020

Château Prieuré-Lichine 2020 was also released, having been rated at 93 points by Anson as part of her in-depth report on Bordeaux 2020 en primeur wines.

She described the Margaux estate as ‘one of the clear successes’. Millesima UK was selling 12 bottles for £304 in bond.

Wine Lister said the price compared favourably to many back vintages of the estate’s wines.

La Lagune 2020

Other Bordeaux 2020 en primeur releases this week have included Château La Lagune, rated 93 points by Anson, and being sold for around £324 (12x 75cl in bond).

‘This is 7% higher than the current market price of the 2019 but less than other back vintages,’ said Liv-ex.

La Lagune 2020 was released ex-Bordeaux at €26.4, up by 10% on the opening price of 2019, Liv-ex said.

Anson gave 94 points to La Lagune 2019, but Wine Lister noted this vintage’s limited availability on the market.

Three more releases

• Château Kirwan 2020, 92 points, £180 (6x 75cl in bond, Berry Bros & Rudd)
• Château Chasse-Spleen 2020, 91 points, £244 (12x 75cl in bond, quoted by Liv-ex)
• Château Marquis de Terme 2020, 93 points, £372 (12x 75cl in bond, Millesima UK)

Bordeaux 2020 sales talk

Some UK merchants felt Bordeaux 2020 en primeur has not quite kicked into gear as yet, despite a few sparks.

‘It’s still early days,’ said Thomas Parker, buyer at Farr Vintners. ‘There is good interest from customers but not at the level of 2019 at this stage.’ 

He added, ‘The Bartons and Batailley have sold particularly well so far but [there are] not too many releases to pick from yet.’

Matthew O’Connell, head of investment at Bordeaux Index, also noted a relatively slow start to the campaign so far, despite some successes. Things may well pick up with many more big names still to come.

Cheval Blanc 2020

Limited quantities were left at some merchants, following high critical praise and a release price of around £4,656 (12x 75cl in bond).   

‘Cheval Blanc 2020 has already created demand in the secondary market,’ said Liv-ex. 

Jane Anson gave the wine 99 points but will re-assess it once bottled and said the 2020 could match the perfect 100 achieved by the 2018 vintage. 

Compared to 2018, the 2020 ‘was available for almost £1,000 less per dozen’, said Liv-ex.

On a separate note, there has been evidence of trade interest in back-vintages of top Bordeaux names.

Château Lafite Rothschild 2018 was the second most traded wine on Liv-ex by value in the week ended 20 May. It’s last trade price was £7,544 per 12 bottles in bond, Liv-ex said.

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Preview: How Bordeaux is gearing up for 2020 en primeur

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Château Batailley 2020 was released this morning (21 May) at €26.5 ex-Bordeaux, a 3% increase on the 2019-vintage release price.

Decanter’s Jane Anson gave it 94 points and called it a ‘signature Batailley in that it has that essence-of-Pauillac feel’. She added, ‘Really one to look out for in this vintage.’

Batailley is being offered at £337 per bottles in bond on the international market, just 0.3% above the current market price of its 2019 vintage, according to Liv-ex.

‘With one of the smallest increases so far in this en primeur campaign, Batailley has real potential to stand out as great value for money,’ said Liv-ex.

Analyst group Wine Lister said of the 2020 release, ‘Some buyers looking to open a bottle sooner might note a little availability of both 2019 and 2018 remains at their original en primeur release prices.’

Yet it added, ‘However, on brand strength alone, this looks like a solid buy.’

Branaire-Ducru 2020 also released today, at €31.20 ex-Bordeaux, which is a 10.6% increase on the 2019 release price.

But it’s being sold at £372 (12x 75cl in bond), which puts it below the current market prices 2019 and 2018.

Jane Anson gave the wine 93 points, and said it had a ‘really excellent St-Julien character; a lovely Branaire’.

Liv-ex said the release looks ‘very well-positioned, being cheaper than the 2019 and 2018 vintages’.

Wine Lister said, ‘With a price slightly up on last year’s generous en primeur discount (while still offering significant discount on the 2018 release price) this could work, considering Branaire’s long-term upward quality and popularity trajectory.’

More Bordeaux 2020 en primeur:

Bordeaux 2020: Angélus and Pavie lead new en primeur releases

Bordeaux 2020 wines: our en primeur verdict  

Anson’s top-scoring Bordeaux 2020 wines

See our Bordeaux 2020 homepage for all the latest stories

The post Batailley 2020 release: 'Great value for money' potential appeared first on Decanter.

Suduiraut 2020, rated 96 points by Decanter’s Jane Anson, has been released in the Bordeaux 2020 en primeur campaign today (20 May) at around £504 per 12 bottles in bond. 

It’s ex-Bordeaux price was €42 per bottle, up by around 20% on the equivalent 2019 release, according to Liv-ex. The 2018 vintage was released at around €40 ex-Bordeaux.

Described by Anson as ‘full of pleasure, silky and richly textured’, Suduiraut 2020 is one of the top-scoring Sauternes of the vintage. Anson reported that around 3,000 cases have been produced.

Yet it’s also ‘the most expensive Suduiraut on the market from the last 15 vintages’, according to Liv-ex. 

There is plenty of choice when it comes to finding previous vintages, it added. Sauternes has generally seen more muted demand on the secondary market than its vaunted red wine peers further north. 

Analyst group Wine Lister also noted Suduiraut’s high scores, but added, ‘Buyers looking for a bottle to drink sooner might note some availability of the high-scoring 2009…at a price lower than that of the latest release.’

While the highlight of the Bordeaux 2020 en primeur campaign so far has arguably been the early debuts of St-Emilion Premier Grand Cru Classé A châteaux, several Sauternes and Barsac 2020 wines have now been released. 

They include:

• Coutet 2020 (Barsac), 94 points, £324 (12x 75cl in bond, Liv-ex)
• Guiraud 2020, 94 points, £33.6 per bottle in bond (expected price reported by Wine Lister) 
• Doisy-Védrines 2020, 95 points, £282 (12x 75cl in bond, Farr Vintners)
• Doisy-Daëne 2020, 96 points, £288 (Bordeaux Index)
• La Tour Blanche 2020, 93 points, £350 (Farr Vintners)

Lafon-Rochet and La Clotte 2020 release

One of the latest reds to release is Lafon-Rochet 2020, priced at around £325 per 12 bottles in bond. 

According to Liv-ex, that makes it around 11% more expensive than the current market price for 2019, although cheaper than 2018 and 2016. 

Rated 93 points by Anson, the St-Estèphe fourth growth’s 2020 vintage was also 3% below the ex-Bordeaux price of 2019, at €26 per bottle.

It could be an interesting wine to watch, because it is the first year of collaboration at the estate between two of Bordeaux’s top consultants – Eric Boissenot of Left Bank fame and Jean-Claude Berrouet, former Petrus winemaker.

Back in St-Emilion, La Clotte 2020 was also released. Anson gave the wine 93 points and said it ‘continues its improvements under the Ausone team’.

Farr Vintners and Bordeaux Index were selling 12 bottles in bond for £560. Fine & Rare was selling six bottles for £285 in bond, and reported that production was 10,000 bottles.

Look out for the feature on five Sauternes vintages to drink now in the 2020 Bordeaux supplement, free with the June issue of Decanter. 

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Selected Bordeaux 2020 en primeur releases: Quick links to tasting notes

Prices sourced from Liv-ex unless otherwise stated.

Right Bank

• Château Angélus 2020, 97 points, £3,048 (12x 75cl in bond)
• Château Pavie 2020, 97 points, £2,890 (12x 75cl at Farr Vintners)
• Château Cheval Blanc 2020, 99 points, £4,656
• Château Pavie Decesse 2020, 95 points, £996

Left Bank

• Château Léoville Barton 2020, 94 points, £730 
• Château Langoa Barton 2020, 92 points, £358 

Sauternes

• Château Coutet 2020 (Barsac), 94 points, £324
• Château Guiraud 2020, 94 points, £33.6 per bottle in bond (expected price reported by Wine Lister) 

Bordeaux 2020 analysis: Angélus and Pavie releases

Château Angélus 2020 was being sold en primeur for around £3,048 per 12 bottles in bond this morning (18 May), although different formats were available. Fine & Rare was selling six bottles for £1,524 in bond, for example.

Decanter’s Jane Anson gave Angélus 2020 97 points as part of her Bordeaux 2020 en primeur report. 

‘I love the aromatics on this,’ she wrote of Angélus, also praising the wine’s discreet power. ‘This is a sleek, poised, and confidently-constructed Angélus.’

Liv-ex said the UK case price for Angélus 2020 was up by around 7% on the 2019 vintage release last summer. On an ex-Bordeaux basis, the 2020 release price was €260 per bottle, up 13% on 2019. 

St-Emilion Premier Grand Cru Classé A estates have been among the biggest-name releases at the beginning of the Bordeaux 2020 en primeur campaign. Angélus and Pavie came after Cheval Blanc 2020 debuted at around £4,656 (75cl x12 in bond) last week. 

Analyst group Wine Lister said Angélus 2020, while highly rated, came in at the higher end of pricing on recent vintages.

‘This latest en primeur release may find traction amongst its loyal followers, or indeed those in the know about the shift in style afoot,’ it said.

It added, ‘Buyers might note the decent availability of the [high-scoring] 2016 and 2015 vintages at a lower price, which have the added benefit of being physical.’ Anson’s most recent rating on the 2016 vintage was 98 points.

Pavie 2020 was also rated 97 points by Anson and was being sold for £2,890 per 12 bottles in bond at Farr Vintners, and £1,446 per six-bottle case in bond at Fine & Rare at the time of writing.

For some context, Farr Vintners was selling Pavie 2019 at £2,990 (12x 75cl in bond), a wine rated 96 points by Anson last year.

Léoville Barton 2020 release

Crossing over to the Left Bank, St-Julien’s Léoville Barton 2020 was released today at around £730 per 12-bottle case in bond, up by 12% on the 2019 debut price, according to Liv-ex. It said release volumes were down 25%, reflecting lower production.

Giving the wine 94 points, Anson said it ‘will bed down and age extremely well’, even if ‘the austerity to the tannins is very much to the fore right now’. 

She raised the prospect of an upgrade at the in-bottle tasting in 16 to 18 months. She has previously rated the 2019, 2018 and 2016 vintages at 96 points.

Liv-ex data showed that 2020 was significantly cheaper than the 2016 market price, although it was above 2019, 2018 and 2017 to varying degrees.

Exchange rates playing a role

There were perhaps early signs of an exchange rate shift playing a role, as noted prior to this year’s en primeur campaign. 

Léoville Barton 2020 was €60 per bottle ex-Bordeaux, up by 16% versus last year’s release, according to Liv-ex. This gap was slightly smaller when comparing in-bond case price from UK merchants, as shown above.

More Bordeaux 2020 releases

There have been several other releases this week. Langoa Barton 2020 was available at Bordeaux Index and Farr Vintners at £358 per 12 bottles in bond.

It’s rated 92 points by Anson, who described it as ‘not quite as generous as Léoville Barton’, but still with ‘plenty of life and lift through the palate and a juicy finish’. 

On the Right Bank, Pavie Decesse 2020 – rated 95 points by Anson – was released at £996 per 12 bottles in bond, down 3.5% on the equivalent release price for 2019, said Liv-ex. The ex-Bordeaux price was level with 2019, at €83.

Wine Lister said Pavie Decesse 2020 had ‘rarity on its side’, given the estate’s relatively small size. There was ‘no availability’ of 2019 and 2018 has seen moderate price growth, Lister said.

In Barsac, Coutet 2020 was released at the equivalent of £324 per 12 bottles in bond, although Liv-ex noted there was also value to be found in several back-vintages. Anson gave Coutet 2020 94 points, noting, ‘This is excellent and easy to recommend.’

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The post Bordeaux 2020: Angélus, Pavie, Léoville Barton lead new releases appeared first on Decanter.

Château Cheval Blanc 2020 was released en primeur this morning (11 May) at €380 per bottle ex-Bordeaux.

That’s up by around 3.5% on the 2019 release and merchants were selling the wine for £4,656 per 12-bottle case in bond, according to Liv-ex.

It has the potential to be a 100-point wine in future, said Jane Anson after sampling Cheval Blanc 2020 as part of her Bordeaux en primeur tastings. Full report and tasting notes coming soon to Decanter Premium. 

She gave it 99 points, pending further assessment once bottled in around 18 months. ‘The wine feels full of life, with acidity that pulls the palate forward from the first moment,’ she said.

Cheval Blanc 2020 release analysis: ‘This should absolutely fly’ 

Cheval Blanc is also the first of the very top names to emerge in the Bordeaux 2020 en primeur campaign.

Its release may offer early clues about buyer sentiment following a relatively successful-yet-narrow campaign for Bordeaux 2019 en primeur wines last year, and signs of Bordeaux garnering greater enthusiasm on the fine wine market in general. 

‘The first key release out of the gate for 2020, Cheval Blanc complies with whispered requests from the international trade to keep prices around the same as last year,’ said analysis and research group Wine Lister. 

‘Given how well the welcome gesture on pricing worked last year (there appears to be little 2019 left on the market from reliable merchants), and Cheval Blanc’s impeccable quality track record, this should absolutely fly, marking a good start to the campaign.’

Matthew O’Connell, head of investment at Bordeaux Index, told Decanter, ‘Cheval’s somewhat unexpected release this morning appears well-judged price wise and we hope it will set the tone for the campaign.

‘The release ticks the two key boxes of being only slightly (2-3%) above the 2019 release in Sterling currency, and also then being the cheapest top-tier vintage in the market.’

Liv-ex said early reports suggested strong sales demand in general for Cheval Blanc 2020.

‘Cheval Blanc could very well set the pace for this year’s En Primeur campaign – with more major châteaux expected to release in the coming days.’

Liv-ex data showed Cheval Blanc 2020 was cheaper than the highly regarded 2018, 2016 and 2015 vintages.

However, it also said that buyers interested in ‘physical’ vintages might want to look at Cheval Blanc 2014, which was available at a discount of more than 20% on the new release.

Other releases so far include Château Doisy-Daëne 2020 in Barsac. It was released at €24 ex-Bordeaux, equal to the 2019 release price, with UK merchants selling 12 bottles for £290 in bond, according to Liv-ex.  

More releases are expected soon. ‘We should release everything in the second part of May and in June,’ Philippe Tapie, president of the Bordeaux Négoce committee for classified growths, told Decanter recently. 

Cheval Blanc 2020 release: See Jane Anson’s tasting note

Unlock Bordeaux 2020

Join Decanter Premium today to enjoy full access to 700+ in-depth tasting notes on the latest releases from the 2020 vintage, coming soon.

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This year’s Bordeaux 2020 en primeur campaign is expected to return to a more ‘normal’ timeframe, said Philippe Tapie, president of the Bordeaux Négoce committee for classified growths. 

‘We should release everything in the second part of May and in June,’ he told Decanter today (22 April), speaking via phone on the sidelines of a tasting in Médoc. 

‘We really want to respect the schedule of our customers. We have to finish everything before the end of June.’

Some observers have already urged caution for any châteaux considering price increases in the upcoming Bordeaux 2020 en primeur campaign. 

Perceptions of quality will be a key factor, of course, and Decanter’s Jane Anson is currently tasting through hundreds of samples.

Yet price cuts in last year’s campaign – delayed due to the Covid-19 pandemic –  were broadly seen as helping to bring more buyers back into the en primeur market; even if several merchants reported that demand was focused on a relatively narrow band of estates.

‘The [2019] campaign’s success demonstrated that there is a willing market out there ready for the magic of Bordeaux – the producers simply needed to seize the opportunity,’ said Liv-ex cofounder Justin Gibbs. 

In a special preview report for Bordeaux 2020 en primeur, Liv-ex said this week, ‘Until scores are distributed and a better understanding of the vintage’s qualities begins to form, keeping prices within orbit of the 2019s is surely the most sensible option.’

Matthew O’Connell, head of investment at Bordeaux Index, told Decanter that he was ‘cautious on pricing’ and the potential room for increases.

While a stronger pound sterling against the euro might provide some space for manoeuvre, at least in terms of UK buying options, he added that ‘pricing won’t need to move that much for there to be significantly less market demand’. 

There are mixed feelings about Bordeaux on the wider fine wine market, but O’Connell said Bordeaux Index was seeing strong demand. There is a sense of renewed momentum, and O’Connell said last year’s primeur campaign ‘left a very positive feeling’ on the market. 

This sentiment has also been aided recently by a pause on the 25% US import tariffs on some European wines entering the US – including many bottles from Bordeaux.

Gibbs said, ‘The recent lifting of the tariffs has had a marked effect on activity – leading to a strong kick in demand for wines of all regions, including Bordeaux.’

In the US, some merchants had sold 2019 primeur effectively tariff-free – on the basis that the levies might not be a factor by the time wines are ready to be delivered. 

Clyde Beffa Jr, co-owner of US merchant K&L and who has been following en primeur for several decades, previously told Decanter magazine’s Market Watch that he hoped prices wouldn’t go up for the 2020 campaign.

However, contextual information is important, such as a particular château’s release policy, back-vintage availability, comparative vintage ratings and price history. ‘Success, as ever, will be determined by perceived value against the wines available in the physical market,’ said Liv-ex.

At Bordeaux Négoce, Tapie said individual châteaux were responsible for their own pricing strategies, according to their particular situation – even if négociants advise on the general market conditions. 

He said the market was ‘still complicated but we have some positive signs’, citing the recent pause on US tariffs. Tapie also noted the success of the 2019-vintage releases, and he said négociants believed there was the potential to replicate this success with the 2020 campaign.

Another key factor in the campaign will be the amount of wine released. Châteaux have different policies, and 2020 yields were smaller than 2019 in some areas. O’Connell said Bordeaux Index would in general like to see ‘bigger volumes’ on release.

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The post Bordeaux gears up for 2020 en primeur campaign appeared first on Decanter.