Bordeaux 2023 market analysis: Léoville Poyferré down 33%
One UK merchant has praised Château Léoville Poyferré for its quality-to-price ratio, with Clos Fourtet among the other Bordeaux 2023 wines to emerge mid-week.
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St-Julien’s Château Léoville Poyferré joined St-Emilion’s Clos Fourtet and Canon-La-Gaffelière among the latest Bordeaux 2023 en primeur releases on Wednesday (22 May).
These three releases at a glance
- Château Léoville Poyferré 2023 | 96pts (Decanter) | €56.50 per bottle ex-négociant, down 32.7% | UK price £674 per 12x75cl in bond (IB)
- Clos Fourtet 2023 | 95pts | €70 per bottle, down 25.5% | UK price £840 (12x75cl IB)
- Canon-La-Gaffelière 2023 | 94pts | €50.4 per bottle, down 22.2% | UK price £600 (12x75cl IB)
Price data source: Liv-ex.
Fresh data from analyst and consultancy group Wine Lister suggested Bordeaux 2023 ex-négociant release prices were down 19% on average, compared to the 2022-vintage releases last year, and 7% lower than the 2021-vintage campaign.
Several big names are yet to release, however. Decanter understands that Margaux-based Château Brane-Cantenac 2023 (96pts, Decanter) was also due for release later today.
See Decanter’s full verdict on the Bordeaux 2023 vintage, plus ratings and tasting notes on the top-scoring wines
Léoville Poyferré 2023 reaction
Léoville Poyferré joined the club of châteaux dropping more than 30% versus the debut price of the 2022 vintage a year ago.
That said, some estates released their 2022-vintage en primeur wines as more expensive than several back-vintages, and the overall fine wine market has deteriorated in the past 12 months, too.
UK merchant Farr Vintners praised the Léoville Poyferré release: ‘This is certainly one of the best quality/price ratios of the vintage at £674 per dozen (12x75cl IB), and a very fair price for a top second growth château.’
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Léoville Poyferré 2023 was rated 96 points by Decanter’s Bordeaux correspondent, Georgie Hindle, who wrote: ‘Really suave, almost subtle and dialled-back, which is great, and the juiciness is totally moreish. I love it.’
That score puts the still-in-barrel 2023 wine level with Decanter’s rating for Léoville Poyferré 2022, but lower than 2019 and 2016 vintages.
While Léoville Poyferré 2023 is around a third below the current market price of the 2022 wine, it was only around 4% cheaper than the 2019 vintage, according to Wine Lister data.
Exact prices can vary by merchant and market, though. Liv-ex data suggested the 2019 wine was slightly cheaper than the new release, and it highlighted 2019 as potentially a compelling option for anyone interested in exploring the estate’s back catalogue.
Clos Fourtet 2023
Clos Fourtet was named one of St-Emilion’s top performers in Decanter’s Bordeaux 2023 vintage report.
Hindle rated the 2023 vintage at 95 points. That is lower than the 98-point 2022 vintage, but the latest release was also down by more than 25% on the debut price of the 2022 wine (ex-négociant), according to data from Liv-ex, a global marketplace for the trade.
Liv-ex added, ‘Buyers looking for value among back vintages might consider the 2015, 2019 and 2020 vintages.’
Decanter reviewers have scored the 2019 vintage between 96 and 97 points at previous tastings.
Canon-La-Gaffelière 2023
Fellow St-Emilion wine Canon-La-Gaffelière 2023 was also released today, down by around 22% on an ex-négociant basis, year-on-year.
Hindle rated the wine at 94 points, praising its aromatics, structure and elegance, but also noting that it appeared ‘a little austere’ at this stage in its early development.
Wine Lister said, ‘Canon-la-Gaffelière 2023 comes onto the market nicely below all available back vintages. A handful of higher-scoring back vintages, such as 2019 available at a modest 9% premium, may also look appealing.’
Other releases
Several other Bordeaux 2023 en primeur releases have also emerged in the past 24 hours.
These include La Mondotte 2023 (95pts, Decanter). Its recommended onward selling price in the UK was £107.80 per bottle (IB), according to Wine Lister, which added that this makes the new wine cheaper than the majority of back-vintages.
The group said it was a similar story for Château Marquis de Terme 2023 (93pts, Decanter), with an onward selling price of around £27.95 per bottle (IB).
Related articles
- Bordeaux 2023: Our en primeur verdict and top-scoring wines
- Bordeaux 2023 market analysis: Bélair-Monange and Beychevelle released
- Bordeaux 2023 market analysis: Subdued reaction to Cos d’Estournel’s 38% cut
Chris Mercer is a Bristol-based freelance editor and journalist who spent nearly four years as digital editor of Decanter.com, having previously been Decanter’s news editor across online and print.
He has written about, and reported on, the wine and food sectors for more than 10 years for both consumer and trade media.
Chris first became interested in the wine world while living in Languedoc-Roussillon after completing a journalism Masters in the UK. These days, his love of wine commonly tests his budgeting skills.
Beyond wine, Chris also has an MSc in food policy and has a particular interest in sustainability issues. He has also been a food judge at the UK’s Great Taste Awards.
