Bordeaux 2012: Figeac drops 33% on 2011 as en primeur campaign draws to a close

The 2012 en primeur campaign has entered its final stages with the release of Vieux Chateau Certan, L’Eglise Clinet, Leoville Las Cases, Brane Cantenac, Figeac and Léoville Poyferré.

A more successful period?…Figeac

Vieux Chateau Certan is €90 (down 6%), L’Eglise Clinet is up 25% to €125, Leoville Las Cases is €85, down 15% on last year, and Chateau Saint Pierre is €30.60, down 8.93%.

Figeac posted the biggest drop, a full 33.3% down on 2011 to €48 ex-Bordeaux (although 17% up on its 2008 price of €41).

This coincides with a new team at the estate, and the departure of Eric d’Aramon, and several observers hoped it marked the start of a more successful period for the chateau.

Léoville Poyferré went down 16% from 2011 to €43.20 but it was among the biggest rises in 2009 and 2008 – and this year’s price is still 63% higher than their €26.50 2008 price.

Chateau Brane Cantenac saw some success at €28.80 ex-Bordeaux, a small drop of 7% on 11 (and up 34% on 2008), but still a reasonable price compared to other second growths, and realistic for an estate that has built up a following over recent years.

Other releases today include Chateau Beauséjour Duffau-Lagarrosse at €48 ex-Bordeaux (-4.76% on 2011 but up 129% on 2008). Chateau Berliquet came out at €19.90, down 10.27% (it was €14 in 2008). Chateau Larcis Ducasse was at €33 ex-Bordeaux, down 3.51% from last year, and Larrivet Haut Brion €22, down 5%.

A call around merchants in London, Hong Kong and Bordeaux suggests that many are seeing clients waiting until the end of the campaign to make their purchasing decisions, as there has been no rush to buy any of the 2012 wines. Others are reporting that négociants are widely discounting prices to attempt to sell through the stock that they have had to buy from the chateaux.

Written by Jane Anson in Bordeaux