Liv-ex, the fine wine exchange, has re-calculated the 1855 classification according to price and there's a new wine in the First Growths.
The new Liv-ex classification has Mission Haut Brion joining the first growths and Lynch Bages climbing to 2nd growth.
Highly-regarded Chateau Palmer, at present a 3rd growth, moves up to the top of the Seconds.
The listing was put together using Medoc and Pessac Leognan wines with a minimum production of 2000 cases. The original classification used only 61 wines from the Medoc.
The wines were then split into growths according to price band, as the original 1855 listing did.
First growths were wines at £2000 per case and above, 2nd growths £500 to £2000, 3rds £300-£500, 4ths £250-£500 and 5ths £200-£250.
Liv-ex worked out the listing by calculating the average case price for every qualifying wine for the past five years, 2003-2007. Prices are as of 31 December 2008.
Various anomalies were thrown up particularly in the case of the second wines many of which would have made it into the list had they been included.
Liv-ex research manager Jack Hibberd said, 'The second wines of the great chateaux are a complicating factor. They obviously didn't exist in 1855, so we decided to classify each property on the basis of their first wine.
'It's interesting to note that if they were included as separate chateaux, 12 would make the cut, with Carruades de Lafite and Forts de Latour reaching the level of second growths.'
Director James Miles said, 'Our aim, in essence, was to create the classification that would have been drawn up if today's prices were those prevalent 154 years ago.'
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This is fascinating, and Liv-Ex have been very true to the original spirit and method of the 1855 classification - which was driven pretty much solely by pricing. However, it is surely also tempting to consider what an alternative reclassification driven more by qualitative than quantitative considerations would look like. Though this is necessarily subjective, I'd suggest that a number of chateaux look under-classified in the 2009 Liv-Ex listing. From my perspective, the following look likely candidates for promotion (or, in order words, currently rather good value for money): Calon Segur, Leoville Poyferre, Pontet Canet, Domaine de Chevalier and Lagrange. Others looks like candidates for demotion, but I'll resist the temptation to single them out. I wonder, too, whether a new classification might not also find a place for more of the top cru bourgeois wines - Phelan Segur, Poujeaux, Chasse Spleen to name but three.
p.s. I'd also have Brane Cantenac in my list of wines to be promoted.
Colin Hay, Professor of Political Analysis, University of Sheffield
I've been lucky enough to taste every wine in this list en primeur in all the qualifying vintages, and every single wine from bottle from the two most recent vintages in bottle, 2005 and 2006. Well done to Liv-ex for creating what looks to be a remarkably accurate assessment.
But the problem is this: the proprietors of these estates think that price reflects status, and each time we publish lists like this, based on price, the more we encourage Château owners to maintain or even raise their prices. If you were in the privileged position of owning one of these prestigious names, what would you try and do when you see this list? Plump for value, and a demotion, or sit out the next dance?
By contrast, what wine lovers would like is for the global recession to cause a substantial price drop in the 'drinkable' wines on this list. In a few years' time, in a post-recession world without Parker points, that might just be possible.
Gavin Quinney, Château Bauduc, Bordeaux
Why not just do the same exercise for St. Emilion and put an end to all the silly brou-ha-ha once and for all.
Rob, Suffolk, UK
Considering the original classification and how it was done, pretty much exactly the way Liv-Ex has done it, this represents as good a classification as I have seen by anyone. The one factor not considered here by Liv-Ex, which in fact makes it even more fair, as determined by market prices, is the political factor, that certainly was a big part of the 1855 classification originally. Someone start a petition to get this officially adopted by the French Government; it's totally fair and unbiased. Great job indeed.
Gil Lempert-Schwarz, Las Vegas, Nevada
The Liv-Ex new classification is spot-on in its conception though it is not of course new in any way. This exercise has been done before though perhaps not so completely or clearly. The exercise works well in all ways EXCEPT for the first growths. They have benefited from the market-distorting fact that they have, since 1855, been accepted at higher prices by the market, due to and since the 19th century classification, no matter their quality. Unfortunately there is no way to correct this now. It is likely that Lafite (of recent times) Latour and Haut Brion would remain first growths (one can imagine). But would Margaux and Mouton be in this club or would they find themselves as super-seconds (as Mouton was in 1855)?
Many thanks for your excellent email newsletter and alerts.
Martin Sinkoff
I have always wondered how a global classification would look, judged by the same parameters. Would any of the New World wines make it to the list?
Harry Constantinescu
Finally Sociando Mallet makes it to First growth status. I would have thought that Leoville las Cases would have wound up as a first growth.
Mark de Mey
As the French I feel very bad to hear such impossible equation ??! Impossible to admit! An absurd idea !!!!"! this do not make any sense and certainly not! The right period for such a change and could appear very confusing on an international platform. Who could be next one part of the first grow? Who will be go down from the first to the second grow because his price are not expensive enough? How a third such as Chateau even it is the best in the world could a first grow now because it is expensive to buy? They are planning to apply this no sense to the burgundy too?
Now the example of the Mission haut brion as been an exceptional wine for the past few years, and cost even more than the Haut Brion himself .But the price of wine are only relevant to the offer and demand and had nothing to do with the classification and French wine market are not logic.That making this country very particular.
Touching now at the classification made by Napoleon the third ,will not help the French wine market. Why not to create an international section next! Many international wine are better than the a the very expensive petrus for a price 20 times cheaper than the famous pomerol. How do you think make those producer fell .Not be even be classify any where?
I think Livex do over valued his power and they are losing it! Why? They should spend their energies on real problems. Thank you very much to give me the chance to speak for myself.
Dominique Ritorto
FIRST GROWTHS
Latour
Lafite Rothschild
Margaux
Mouton Rothschild
Haut Brion
Mission Haut Brion
SECOND GROWTHS
Palmer
Leoville Las Cases
Cos d'Estournel
Pape Clement
Montrose
Ducru Beaucaillou
Pichon Lalande
Pichon Baron
Leoville Barton
Lynch Bages
THIRD GROWTHS
Leoville Poyferre
Pontet Canet
Malescot St Exupery
Rauzan Segla
Haut Bailly
Calon Segur
Lascombes
Smith Haut Lafitte
Beychevelle
Cantenac Brown
Grand Puy Lacoste
Branaire Ducru
Clerc Milon
Duhart Milon
Giscours
Lagune
Issan
FOURTH GROWTHS
St Pierre
Langoa Barton
Gruaud Larose
Brane Cantenac
Kirwan
Talbot
Malartic Lagraviere
Domaine de Chevalier
Haut Marbuzet
Prieure Lichine
FIFTH GROWTHS
Lagrange St Julien
Boyd Cantenac
Sociando Mallet
Ferriere
Marquis de Terme
Armailhac
Carbonnieux
Haut Bages Liberal
Haut Batailley
Lafon Rochet
Durfort Vivens
Tertre
Rauzan Gassies
Dauzac
Cos Labory
Batailley
Grand Puy Ducasse
The Liv-ex Bordeaux Classification: Second wines
(with potential classification)
SECOND GROWTHS
Carruades de Lafite
Forts de Latour
THIRD GROWTHS
Petit Mouton
Pavillon Rouge
Bahans/Clarence Haut Brion
Alter Ego de Palmer
FOURTH GROWTHS
Chapelle Mission
Pagodes de Cos
FIFTH GROWTHS
Clos Marquis
Reserve de la Comtesse
Croix de Beaucaillou
Clementin du Pape Clement
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This is fascinating, and Liv-Ex have been very true to the original spirit and method of the 1855 classification - which was driven pretty much solely by pricing. However, it is surely also tempting to consider what an alternative reclassification driven more by qualitative than quantitative considerations would look like. Though this is necessarily subjective, I'd suggest that a number of chateaux look under-classified in the 2009 Liv-Ex listing. From my perspective, the following look likely candidates for promotion (or, in order words, currently rather good value for money): Calon Segur, Leoville Poyferre, Pontet Canet, Domaine de Chevalier and Lagrange. Others looks like candidates for demotion, but I'll resist the temptation to single them out. I wonder, too, whether a new classification might not also find a place for more of the top cru bourgeois wines - Phelan Segur, Poujeaux, Chasse Spleen to name but three.
