Bordeaux 2015: the final push

Four big name estates have followed Margaux as this year’s campaign, finally, looks as though it’s entering its end game.

Angélus and Pavie released this morning

Yesterday’s release of the ‘wine of the vintage’, Château Margaux, was followed by Pichon Comtesse de Lalande and Montrose and inseparable St-Emilion duo, Angélus and Pavie this morning.

Pichon Comtesse matched its baronial counterpart with an opening price of €96 per bottle ex-négociant. It has a marginally inferior Neal Martin score to Pichon Baron – 95-97 to Baron’s 96-98 – but is rather consistently and strongly scored across the board.

Corney & Barrow’s offer noted that, “the wine is fabulous, but the pricing less exciting.”

The offer was rather more positive about Montrose, which was one of the St Estèphe estates that managed to shake off the worst of the late season rains. Martin said it exuded “class”.

Out at €102 p/b ex-négoce, it is 14.9% more expensive than the 2014 was on release and while it’s triumph over adversity is commendable and it is at a serious discount to the 100-point 2009 and 2010 wines, nonetheless the better rated 2014 is cheaper.

Not only cheaper and better rated either. The 2014 Montrose was widely regarded as one of the best wines of the vintage and it is currently 34.1% cheaper than the new 2015 release.

St-Emilion’s most optimistic pair continued to price in step this morning with both released at €252 p/b ex-négoce, 40% above the 2014 release and more expensive then their 2009 and 2010 wines were on release.

Both wines have good scores: Angélus received 95-97 from Martin 99-100 from James Suckling, a 96 from Tim Atkin MW and 18-19 from Chris Kissack while Pavie garnered a 100 from Suckling, 96-98 from Martin and 17.5-18.5 from Kissack but, conversely, only 90 from Atkin and 16.5 from Jancis Robinson MW.

The elevation to grand cru classé A status in 2012 certainly gave the estates a boost. Average returns from Angélus over the last 10 years have been 59%, far above its peer group.

That said, at that price it is unlikely to appeal to everyone, while the 2012 is the same price – though for a slightly lesser score – and the better scored 2009 and 2010 are the same price of only a little more expensive.

Pavie’s efforts to keep pace with its fellow St Emilion haven’t quite gone according to plan. Despite occasionally out-scoring Angélus and releasing at marginally cheaper prices, returns over the last decade have only averaged 16%.

It does have two 100-point wines courtesy of Robert Parker though, the 2009 and 2010, and they are only a little more expensive than the 2015.

Also out today is Troplong-Mondot at €82.8 p/b, 44% above the 2014 release.

After what feels like a very protracted campaign (although not as long as the 2010 ere we forget), the end finally seems to be in sight.

There are still quite a few big names yet to emerge though, including the final three first growths and the normally late arrivals of Léoville Las Cases and Ducru Beaucaillou on the Left Bank and Ausone, Cheval Blanc, l’Eglise Clinet and Vieux Château Certan on the Right.