Bordeaux 2014: Cos and Haut-Brion open the week

Saint Estèphe heavyweight, Cos d’Estournel, has emerged with a 3.7% premium on its 2013 price and first growth Haut-Brion matches Mouton.

The en primeur campaign has slowed of late. After a bout of high-profile releases from Mouton Rothschild, Palmer, Angélus and Lynch Bages among others last week, the May Day bank holiday in France and recent Bank Holiday in the UK have created some breathing space.

Cos was the first back into the breach this morning and with an ex-négociant price of €84.50 a bottle it has risen 3.7% from its 2013 release price (€81.50).

First growth Haut-Brion followed soon afterwards and matched Mouton at €240 p/b, an 11.6% rise on its 2013.

Cos was highly rated by many critics during the tastings this year, described as a “classic” rather than a blockbuster, it drew praise for its purity and focus, Neal Martin noting it has “impressive volume” and “unerring purity”.

However, in recent vintages the estate has come under fire for badly judging its releases, its 2011 in particular being savaged for a €108 p/b release and declared “impossible to sell”.

But what of their value compared to back vintages? As usual Liv-ex has been quick to post the release prices compared to current market prices dating back to 2004.

Both wines have an average score of 94-points (Martin scored both 93-95 in his recent notes) which for Cos makes it the highest scoring since the 2010 and equal to the 2006.

However, at £800 a case it is also more expensive than the current prices for the 2004, 2006, 2007, 2008, 2011, 2012 and 2013 all of which are currently below £800 p/cs.

Haut-Brion has a slightly different problem. At over £2,000 a case it is nonetheless cheaper than all vintages since 2004 – except the 2013 – but only just.

Furthermore, as Liv-ex pointed out in 2013, since 2008 Haut-Brion has some of the best scores and lowest case prices of the first growths.

The 2014 may have a solid 94 but the 2012, recently named wine of the vintage by Robert Parker, has 98, the 2011 95, 2010 and 2009 were both “perfect” 100-pointers although they’re much more expensive and the 2008 has 96.

What will buyers make of them?