Haut-Brion emerges with hefty price cut

Haut-Brion joined its fellow first growths Lafite and Margaux in today’s en primeur releases.

At €360 p/b it is 45% down on its 2010 release price of €660.

However, at the same price as Margaux, which released yesterday, it is at roughly £3,800 a case and therefore is more expensive than many physical vintages.

The 2001 and 2004 vintages can all be bought for less than £3,000 while the 2006 and 2008 tend to hover around £3,300 and £3,400.

This may prove fatal for the château as it already has for Cos d’Estournel and very likely Palmer now as well, both of which released at prices which commentators have tended to agree were too high.

The cut Haut-Brion has administered is a hefty one but it also had further to fall following the 2010 vintage.

As with Margaux yesterday, the cut also falls short of Liv-ex’s recommended 60% fall following Lafite’s release.

More attractive perhaps is La Mission Haut-Brion which came out with a 64% drop from €600 to €216 p/b.

Again however, as a measure of how far prices have risen since 2008, even a 64% cut leaves 2011 above £2,000 a case and thus above vintages such as 2001 (£1,475) and 2008 (£1,650).

Also out today is Angélus at €138 p/b, a 38% cut; Calon-Ségur for €56, a 31% cut and Langoa Barton down 29% to €31.