Below is a chart that plots the price per 12 bottle case of 2009 Bordeaux in USD against each wines ‘score’ out of 100 from leading wine critic James Suckling. A score of 100 indicates a ‘perfect wine’.
The chart clearly shows the big five super-brands and the esteemed Cheval Blanc overshadowing Pavie & its associated Pavie Decesse in terms of price per case. The latter two St Emilion contenders critically outpoint Mouton Rothschild’s 2009 offering, and yet they are available for less than half the price of their first growth competitor.
The temptation is to infer that this data reveals diminished relevance of a wine’s critical reception to the market value of that wine. What the chart truly reveals is, given the dominance of Bordeaux over the Liv-Ex 100, how easily critical success stories can get overshadowed by the “premiers cru” and their right-bank superstar counterparts.
Although the wine market is highly brand oriented at the very top end, it is still driven by purists at its core. It is important to remember that these fine wines will all eventually be consumed and the critics’ choices will be first in line. Jancis Robinson has expressed her fondness for several “super seconds” due to their investment potential.
What Chateau Pavie loses in name recognition, it gains in critical acclaim. While “underdog” may be overstating the case for wine of such a high standard, the disparity between the “perfect” wines and “next-to-perfect” wines is glaring in terms of pricing so opportunities exist for the shrewd investor.
This data certainly illustrates how the barrier to entry for some the best of Bordeaux is not necessarily as high as is often perceived.
Recent Comments