Bordeaux 2024: Angélus joins Lafite with major price cut

Château Angélus 2024 was released in the Bordeaux en primeur campaign on Wednesday morning (30 April) at €180 per bottle ex-négociant, and at around £2,148 per 12-bottle case in bond (IB) in the UK.

Some merchants were offering the wine in six-bottle cases, for £1,074 (IB).

It’s a 31% drop on last year’s debut price for Angélus 2023, said Liv-ex , a global marketplace for the trade.

To follow all of Decanter’s comprehensive en primeur coverage, subscribe to Premium today with the code BORDEAUX24 for 20% off an annual subscription [subscriber-content] Angélus 2024 debuts en primeur Liv-ex added, ‘As the cheapest vintage [of Angélus] available on the market, it might present an interesting opportunity for buyers.'

Angélus has joined first growth Château Lafite Rothschild in releasing its grand vin this week at a substantial discount, returning to en primeur prices last seen a decade ago.

Farr Vintners said Angélus 2024 was back at the level of the estate's 2014-vintage release price.

It debuted under the UK merchant’s pre-release low estimate, which was £1,100 to £1,400 per 6x75cl IB.

Some Bordeaux 2024 quality scores have not yet been published, but consultancy group Wine Lister said, ‘ Depending on which critic you follow, this looks attractive and meets the trade's request for a 31% discount on last year's price.’

A 31% drop was the average request in a survey of Wine Lister’s founding members, representing trade professionals worldwide, due to challenging market conditions and a desire to reinvigorate demand for Bordeaux specifically.

Early trend for Bordeaux 2024 discounts On Tuesday, there was early buyer interest in Lafite's en primeur offer.

Matthew O'Connell, CEO of the LiveTrade online trading platform at merchant Bordeaux Index, said the release sold in good quantity, although it 'didn't attract frenzied activity'. Farr Vintners buyer Thomas Parker MW said on Tuesday (29 April): ‘ Lafite has certainly been our best seller of the campaign so far, but it has not sold out.' He added, ‘Coming out at a price that is cheaper than any physically available vintage is certainly a good sign for the campaign, and one that other properties need to follow.’

St-Julien fourth growth Château Branaire-Ducru did just that at the end of last week, and drew praise from merchants.

Yesterday, Château Gruaud Larose 2024 was released at the lowest ex-négociant price – €43.20 per bottle – since the en primeur debut of the St-Julien second growth's 2013 vintage, said Liv-ex.

At £516 per 12x75cl IB, it said Gruaud Larose 2024 was cheaper in pound sterling terms than all other recent vintages, aside from 2011.

As ever with en primeur, though, each estate has its own strategy and market context.

Sauternes estate Château Suduiraut released its 2024 vintage en primeur on Wednesday morning. The wine was €39.6 per bottle ex-négociant, and offered at £474 (12x75cl IB) in the UK, said Liv-ex, adding that this was an 11% increase on the 2023-vintage release.

Château Pontet-Canet 2024 was released last week at a 9% discount year-on-year, having also cut the price of its 2023-vintage release by 27%, but Liv-ex said the 2024 wine was still more expensive than several other recent vintages.

Decanter’s Bordeaux correspondent, Georgie Hindle, said there wouldn’t be a one-size-fits-all approach in the 2024-vintage en primeur campaign, due to varying experiences of a tricky 2024 growing season and producers’ individual circumstances.

Additional commentary from Matthew O'Connell added on 1 May. [/subscriber-content] Coming soon: Our full report on Bordeaux 2024, to be published exclusively for Decanter Premium subscribers Related articles Bordeaux 2024: Market conditions and pricing strategies The Bordeaux 2024 growing season: Punch by punch Bordeaux 2022: Wines from a superb vintage revisited in bottle