Investor interest in second wines from top Bordeaux estates drives strong growth in prices for highest-rated vintages, Jane Anson’s analysis reveals SECOND WINES OF top Bordeaux châteaux have shown some of the highest price gains since en primeur release for the very best vintages, newly compiled figures suggest.
Fresh analysis by Decanter’s Jane Anson comparing the five Bordeaux vintages of 2016, 2015, 2010, 2009 and 2005 has highlighted the potential returns on offer for buyers of second wines in top years.
Liv-ex data covering many of the top Bordeaux wines and spanning those five vintages showed that the 2005 Carruades de Lafite, Le Petit Mouton and Pavillon Rouge have seen the biggest price gains since en primeur release.
In pounds sterling terms, prices for those three wines rose by 632%, 592% and 333% respectively between first release and October 2018.
‘It’s the second wines that have generally done the best across five of these vintages, with an average price rise of 120.7% since primeur release,’ said Anson in a recent report for Decanter.com.
‘According to Liv-ex,’ she added, ‘the wine that has shown the best price rise over the five featured vintages was Petit Mouton, with a 206% price rise on average since release, followed by Carruades de Lafite, at 177.2%.’
Things have been more mixed for the first growth grands vins, with several 2009 and 2010 wines still below release prices.
As an overview, 2005 has the advantage of maturity, dominating the list of top-performers:
‘Even though 2005 has risen so high, I’d be surprised if there wasn’t further to go, because the wines are extremely well structured and will continue to become more scarce,’ said Anson.
For the recently bottled 2016 wines, it has been more mixed so far (see ‘ups and downs’, right), perhaps highlighting the importance of supporting headline figures with a closer look at individual estates’ pricing strategy and historical trading.
Read Jane Anson’s column comparing these five vintages on Decanter.com and see her Bordeaux 2016 in-bottle scores on Decanter Premium.