Bordeaux 2012: Pape Clement, Giscours, Lafon Rochet continue with price drops

Chateau Pape Clement in Pessac-Leognan came out at €50 yesterday, down 12.5% from its 2011 price of €57.60 (and also a drop of 23% in its 2008 price).

Giscours: down 10%

It was joined by St Emilion’s Chateau La Gaffeliere at €31.20 ex-Bordeaux, down 13.3% on 2011, and St Estephe’s Chateau Lafon Rochet, at €21.60 ex-Bordeaux, a drop of 12% on 2011.

Third-growth Chateau Giscours has come down almost 10% from its 2011 price, to €26.40.

Other wines to have released this week include Chateau Fonroque (down 5.6% to €15), Chateau Fombrauge (down 4.8% to €14.28), Chateau Petit Village (down3.03% to €38.50) and Cos Labory (down almost 9% to€18.60).

Saint Emilion’s Chateau de Pressac, which was promoted from Grand Cru to Grand Cru Classé in the new 2012 classification, followed the example of Pavie and Angélus with a price rise – albeit a far smaller one, with a 4.35% rise to €14.30.

With around 110 wines now released – of an expected 200 in this smaller-than-usual campaign – most négociants in Bordeaux are reporting slow moving wines, with a few bright spots.

‘The average price drops of 5 to 15% are reasonable, but are doing nothing to create excitement,’ reported one leading négociant.

Written by Jane Anson in Bordeaux