Bordeaux 2023 Château Margaux
Château Margaux.
(Image credit: Wikipedia / Benjamin Zingg (Creative Commons Licence))

Château Margaux 2023 was released this morning (6 June), alongside the estate’s Pavillon Rouge and Pavillon Blanc labels, with Gruaud Larose and Calon Ségur also joining the day’s offerings.

Releases at a glance:  

Château Margaux’s appearance means that all of the Left Bank first growths have now released their 2023 wines, except Château Latour, which no longer participates in en primeur.

It follows the launch of châteaux Canon, Rauzan-Ségla and Les Carmes Haut-Brion yesterday, Pavie, Pichon Baron and L’Eglise Clinet on Tuesday, and Pichon Comtesse and Palmer at the beginning of the week. 

A trend for year-on-year discounts has continued, but analysts have also highlighted potential opportunities for buyers interested in back-vintages.

See Decanter’s full verdict on the Bordeaux 2023 vintage, plus ratings and tasting notes on the top-scoring wines

Château Margaux 2023

Decanter’s Bordeaux correspondent, Georgie Hindle, rated Margaux 2023 98-points. ‘Carefully made, tannins are wonderful and the acidity doesn’t stick out,’ she wrote. ‘You also don’t sense the heat, but the fruit is ripe, with freshness all the way through. A wonderful wine in 2023.’

In terms of pure score comparisons, Hindle also gave 98-points to Château Margaux 2022 en primeur and Margaux 2019 in-bottle. The 2020 vintage, however, was rated 99-points in-bottle last year.

Margaux 2023 is one of a small group of wines that have dropped their prices by at least 30% versus the 2022-vintage en primeur campaign, on an ex-négociant basis (€ per bottle). 

Liv-ex data showed that Margaux 2023’s UK offer price of £4,320 per 12-bottle case in-bond made it slightly cheaper than current prices for several other recent vintages of the first growth, including the 2020, 2019 and 2018.

‘As one of the less expensive vintages of the past decade available on the market, the 2023 vintage may provide reasonable value to buyers,’ said Liv-ex, although it noted the 2020 vintage was potentially a ‘compelling alternative’ – at a premium of 8.8%.

Its data showed Château Margaux 2015, a top-rated year and the final vintage overseen by the estate’s late MD Paul Pontallier, was still easily the most expensive grand vin of the past decade – with a market price close to £10,000 (12x75cl IB). 

Snapshot comparison of first growths

Château Margaux 2023 has been pitched below the price of Lafite 2023, but slightly higher than the en primeur releases of fellow first growths Mouton Rothschild and Haut-Brion.

It was also cheaper than Cheval Blanc 2023 on the Right Bank, which was rated at 97-points and offered in the UK at £4,680 (12x75cl IB)

First growth 2023 releases at a glance:

  • Lafite Rothschild 2023 | 98pts (100-point potential) | €396 per bottle ex-négociant, down 31.7% versus 2022 | UK price £4,920 (12x75cl IB)
  • Mouton Rothschild 2023 | 98pts (100-point potential) | €324 per bottle, down 37.2% | UK price £4,068 (12x75cl IB)
  • Haut-Brion 2023 | 98pts (100-point potential) | €312 per bottle, down 39.5% | UK price £3,780 (12x75cl IB)
  • Margaux 2023 | 98pts | €360 per bottle, down 30.2% | UK price £4,320 per 12x75cl in bond (IB)
     Price source: Liv-ex.

See our score table of Bordeaux 2023 wines

Château Gruaud Larose 2023

‘A complete knockout of a wine in 2023,’ said Hindle, rating Gruaud Larose 2023 97-points.

‘Very drinkable, finessed and restrained, nothing overdone, no harshness; everything feels in its place,’ Hindle continued. ‘There’s lots of strict Cabernet, but this has a touch of plushness, which you can’t help but smile at. A top buy in 2023.’

However, Liv-ex said Gruaud Larose 2023 was one of the most expensive recent vintages of the wine available, and it suggested buyers have options in the St-Julien estate’s back catalogue.

Analyst and consultancy group Wine lister said: ‘Gruaud-Larose 2023 offers a discount on the past two vintages.’ But, it said, the 2019 vintage was available at a 10% discount.

Several recent vintages have high Decanter ratings. Hindle has previously rated Gruaud Larose 2022 at 97-points, but also gave a 98-point score to the 2020 vintage in-bottle. Gruaud Larose 2019 scored 96-points in-bottle, one point lower than the latest release en primeur.

Calon Ségur 2023

Hindle rated Calon Ségur 2023 96-points, praising its refinement and precision. ‘[It] has a juicy centre and a touch of sweet strawberries that lift the expression, which is so pleasant,’ she wrote, noting a higher proportion of Cabernet Sauvignon in the blend (72% this year), versus 2022.

Her score is equal to the rating for Calon Ségur 2022 en primeur, although the St-Estèphe third growth’s 2020 vintage received a 98-point score in-bottle. Panos Kakaviatos rated Calon Ségur 2019 97-points for Decanter after tasting it in early 2023.

Calon Ségur has a reputation for price increases on the market following release, according to Wine Lister’s recent ‘Bordeaux – Part 1’ en primeur preview report. 

‘Calon Ségur appears in eighth place on the list of wines that see the highest post-release price increases (for vintages 2018-2022),’ Wine Lister said today. 

Back to Margaux: Pavillon Rouge and Pavillon Blanc 2023

Château Margaux also released second wines Pavillon Rouge and white wine Pavillon Blanc today, which were offered by UK merchants at £1,440 and £2,880 (12x75cl IB) respectively.

Liv-ex said Pavillon Blanc 2023 was one of the most expensive vintages of the wine on the market, while Pavillon Rouge was broadly in-line with several recent vintages – although cheaper than the 2022 wine.

‘Very classic and will round out nicely,’ said Hindle of Pavillon Rouge 2023, rating it 93-points – compared to 94-points for the 2022 vintage.

Hindle rated Pavillon Blanc 2023 96-points. ‘Fresh, orange, lemon and peach, lovely bitter elements with juiciness and some richness in terms of texture,’ she wrote of the wine. ‘[It’s] bright and alive,’ she said, adding. ‘I like the tang on the super long finish.’

Pavillon Blanc 2022 and 2021 have also received 96-point scores. While 2021 was a particularly challenging vintage for reds, many dry white wines were ‘extremely impressive’, as Decanter’s verdict on the Bordeaux 2021 vintage explains.  

Prices down versus 2022

Of the Bordeaux 2023 en primeur campaign so far, Wine Lister said: ‘Ex-négociant prices are down 19% [on average] on the 2022 [releases] and down 6% on the 2021, while average recommended UK onward selling prices are down 19% on the 2022 and down 5% on the 2021.’

The group’s new ‘Bordeaux – Part II’ report has also said that trade feedback suggests a ‘lacklustre’ response to several releases, despite good consumer demand for some of the top names.

While each estate has its own context and strategy, the 2022 vintage was relatively expensive on release at many châteaux, compared to available back-vintages on the market. In the past 12 months, the fine wine market in general has also become more challenging, amid higher interest rates and wider economic uncertainty.

Chris Mercer
Chris Mercer

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.