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.’