Few vintage release campaigns can rival the focus given to Bordeaux en primeur in the fine wine calendar, even if there is ongoing debate about its changing nature.
For buyers, it can be a good opportunity to secure wines direct from the estate, and in specific bottle formats.
En primeur can also still offer the best price for a particular wine, yet – as has been widely reported elsewhere – prices vary and some top-rated wines can be available in-bottle around 18 months later without having risen in price since release.
Each campaign has its own context, but several merchants in the UK and US have told Decanter in recent years that en primeur tends to work for a smaller pool of top wines than in the past.
Below, we take a look at the Bordeaux 2020 campaign and some of the key trends.
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Setting the scene: A Fine wine market snapshot in 2021
Buyer demand on the fine wine market has been relatively solid the past year or so, according to several merchants and analysts, despite ongoing disruption to the hospitality industry and wider economic uncertainty related to Covid-19.
Miles Davis, head of professional portfolio management at Wine Owners, said in his July report, ‘[The market] is calm, well underpinned by global demand – and a good place to be.’
As the Bordeaux 2020 campaign kicked off, UK-based merchant Bordeaux Index said it had seen Bordeaux prices up 5-6% on average, with younger vintages of the first growths rising closer to 10%.
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Report by Chris Mercer for Decanter Premium. A freelance journalist and former editor of Decanter.com, Chris has written about the global fine wine market for more than a decade
Please note that this report has been published purely for informational purposes and does not constitute financial or investment advice. All price information is subject to change, and the prices and availability of wines cited will vary between countries, currencies and retailers. Decanter and the editorial team behind this report do not accept liability for the ongoing accuracy of its contents. Seek independent and professional advice where necessary and be aware that wine investment is unregulated in several markets. Please be aware that prices can go down as well as up.