Bordeaux 2015: bring in the high rollers

Lafite, Cheval Blanc, Ausone and l’Evangile have effectively brought this year’s campaign to an end with their releases over the last few days.

L’Evangile led the pack on Monday morning with a bold €150 per bottle ex-négociant price, a devilish 66.6% up on the release of its 2014.

Described as “marvellous” by Neal Martin, it has received ratings in the high 90s with a 99-100 spread from James Suckling.

At £1,560 a case it is available at a 37% discount to the 100-point (Robert Parker) 2009 but the 98-point 2010 is only £20 a case more expensive.

In the afternoon, a little later than anticipated, came the last of the first growths, Lafite, and its second wine, Carruades.

The Pauillac first declined to follow the lead of its fellows’ 60% increases and opted instead for a 45.8% rise on the price of its 2014 wine, making it €420 a bottle.

After an apparent dip in quality over the course of 2011-2013, both 2014 and 2015 have seen Lafite rebound in the critical stakes. Martin said the ‘15 was an “excellent Lafite in the making” and could end up with a higher score than the 94-96 score he gave it.

That said, at the moment the 2014, which has exactly the same score from Martin as the 2015, is 23% cheaper.

Carruades de Lafite meanwhile, which has performed moderately to very well in the secondary market of late came out at €120 p/b – 33.3% higher than the 2014.

Then back to the big Right Bank high rollers and ever greater increases. La Conseillante at €113 p/b and Figeac at €102 p/b constituted two of the less expensive releases.

Ausone and Cheval Blanc meanwhile went all guns blazing on their releases, both coming out at €540 per bottle, 50% more expensive than their 2014s had been.

Both have received excellent scores from various critics but as Liv-ex noted, Ausone’s price “pitches it somewhere in the middle” of two distinct price bands.

On the one hand there are the 2005, 2009 and 2010 vintages at over £8,000 a case, whole the rest are generally under £4,000.

The issue is some of those vintages in the latter camp have equal or better scores than the 2015. The 98+ 2008 for example (as rated by Parker) is 25% cheaper than the 2015.

Cheval Blanc meanwhile may “flirt with perfection” (Martin) but it’s high prices tend to mean it performs poorly in the secondary market and has offered negative returns en primeur in nine of the last 10 vintages with buyers seeing average losses of 17%.

The 2015 is comfortably one of the best-rated wines of the last decade but the 2005 that Parker updated to a clear 100-points in June last year is only £100 or so a case more expensive.