After a busy day of releases on Monday (19 May), today is the turn of the extensive portfolio from Clarence Dillon, including yet another first growth.
There have been further cuts and prices falling to decade-old lows, with a few labels being picked out as smart buys for interested collectors.
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Analysis: Château Haut-Brion
The Pessac-Léognan first growth has cut its release price by 23.8% this year. Its offer of €240 per bottle ex-négociant is the lowest since the 2014’s opening price.
UK merchants are offering the wine for £1,440 per six bottles in-bond (IB).
It’s a price that looks compelling when compared to recent back vintages. Global fine wine marketplace Liv-ex noted it, ‘enters the market as one of the least expensive recent vintages’.
Consultancy group Wine Lister added it was, ‘an attractive opportunity for collectors to get hold of this first growth’.
Decanter’s Bordeaux editor, Georgie Hindle, was in line with certain other major critics in rating the wine as one of the weaker first growths this year.
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She gave it 94-points and said that: ‘I like the filling texture, but it tapers towards the finish and loses a bit of momentum in terms of density.’
La Mission Haut-Brion
La Mission enters the fray this campaign with a 21.6% price cut and an onward selling price in the UK of around £870 per six bottles IB.
It received similar scores to its first growth cousin, Hindle likewise rating it 94pts saying that while she liked ‘the chalky, mineral-driven elements on the finish,’ it was, ‘not as detailed and finessed as the wine can be. Less dynamic and vibrant.’
Unlike the first growth, buyers might consider looking around for some older vintages of similar quality but lower prices – Liv-ex pointed to the 2017 for example – but the savings are generally slight.
White wines
Both properties produce some of Bordeaux’s most renowned white wines as well, which have also been released.
The wines are currently being offered for around £3,180 per six IB for the Haut-Brion, and £2,580 per six IB for the La Mission.
As with the reds, Hindle was reserved in her scoring of these two wines giving them both 94pts.
Of the Haut-Brion Blanc she said: ‘Cool and calm, this isn’t shouting and the acidity doesn’t stick out as much as I would have thought.’
While for La Mission Blanc she thought: ‘It’s a bit of a slow build that needed some coaxing but tension emerges with clear mineral aspects on the finish.’
Other critics have been more effusive in their praise, however, with Neal Martin giving the La Mission Blanc one of the highest-scores he’s ever given one of its vintages.
Of the two, both Liv-ex and Wine Lister seemed to agree that the Haut-Brion Blanc looked the most compelling, comparing favourably to the prices of back vintages.
‘This is a buy,’ Wine Lister noted emphatically.
For La Mission Blanc the picture is more nuanced as this new release is more expensive than any other available vintage back to the 2010.
Liv-ex asked: ‘Might its wine of the vintage tag make it an opportunity? Or could its historic post-release price performance be a sticking point?’
Troplong-Mondot
(Image credit: Credit Unknown)
Hot on the heels of the Clarence Dillon wines came St-Emilion 1er grand cru classé, Château Troplong Mondot.
The wine was released with a 19% cut on last year’s offer, with an onward selling price of £432 per six.
Unlike the Clarence Dillon wines, Hindle was much more enthusiastic about this wine when tasted en primeur, giving it 96pts.
‘A delicious wine that puts a smile on your face but still multifaceted,’ she noted.
Liv-ex wrote, however, that: ‘The 2024 enters the market at a higher price than most other similarly rated vintages.’
Buyers may consider looking for back vintages at – occasionally considerable – discounts therefore, including from the 2019 and 2020 vintages.
Each estate offered cuts on their 2023 release prices of 16.4%, 13.4%, 12.9% and 13% respectively.
UK merchants were offering the wines at; £249 per six IB, £213 (6×75 IB) for Giscours, £308 (6×75 IB) for Pape Clément, and Valandraud for £455 (6×75 IB) .
Liv-ex picked out Valandraud and Giscours in particular as presenting an opportunity for buyers in this vintage.
The same was true of Lascombes, and Wine Lister noted that: ‘Repositioning under Lawrence Wine Estates and Axel Heinz may result in interest from some buyers who recognise the step up in quality.’
