Bordeaux 2014: Pichon Baron up 22%

Super Second Pauillac estate, Pichon Longueville Baron, released its 2014 price this morning with a 22% premium on 2013 – one of the highest raises so far this campaign.

Released at €66 per bottle ex-négociant, the price is 22% above the 2013 bottle price of €54 and 1.5% above the 2012 (€65 p/b) – although of all the major estates Pichon Baron was one of those that cut the furthest last campaign; -17%.

The rise is the steepest of all the releases so far and places the 2014 at around £650 a case, a similar level to the current case prices of the estate’s 2006, 2007 and 2008 vintages.

A 92-94 point potential from Neal Martin is roughly the same as the 2012 which was originally reviewed by Robert Parker (and recently confirmed 93 by Parker in his in-bottle tastings), though the 2012 is currently cheaper by around £50 a case. Equally, the 2008 is £680 a case, only slightly more expensive, and has 95 Parker points.*

Although Martin described the wine as “tightly wound” and “contained” in his notes, he also said that it had “remarkable precision” and suggested it was a possible replacement for lovers of Latour lamenting the first growth’s departure from the system.

Once again, however, as Liv-ex’s James Miles opined, when weighed up against certain back vintages the sentiment may be that there’s “no rush” to go out and get the 2014 although the disparity in pricing between recent back vintages is not as scattered as it is with other properties.

Before Pichon’s release the highest raise had come from La Mission Haut-Brion, which quietly came out at the end of yesterday behind Cos d’Estournel, Haut-Brion, Talbot and Troplong-Mondot.

La Mission is another estate that has made attempts to “reposition” itself using pricing since 2009/2010, with mixed results.

It released yesterday with a 20.8% price hike to €145 p/b, almost back to the €150 it charged for its 2012.

Although described as a “sterling success” by Martin and with a potential 96-point rating, which is among its best there is, again, the potential to spot value in back vintages as going back to 2004 only the ’05, ’09 and ’10 have broken through the £1,500 barrier – a barrier 2014 is flirting with.

Also out today were Giscours, up 10.6% to €27.6 p/b and Langoa Barton up just 1.8% to €29 p/b.

*Although Martin and Parker’s notes and scores usually come under the blanket of the Wine Advocate, it is worth considering the differences in tasting styles and preferences between the two critics and Martin’s propensity to score slightly lower than Parker.