iDealwine update: iconic Meursault

With investor interest in white Burgundy increasing and prices heading skywards, it’s time to take a closer look at the auction performance of Domaine Coche-Dury.

Recent auctions have shown significant price increases for top white Burgundy. This month, therefore, we have decided to focus our attention on a domaine that regularly sells in iDealwine auctions and often reaches sky-high prices. Along with the likes of Leflaive, Ramonet and Comtes Lafon, Coche-Dury has become a true cult white Burgundy.

The history of the domaine dates back to the interwar period, when it was founded in the heart of Meursault. At the time, most of the domaine’s wine was sold in bulk to local négociants. It was not until 1964 that Georges Coche started to sell the majority of his wine under his own label – an approach that has remained the same ever since.

Georges Coche’s son, Jean-Francois, inherited the domaine in 1972 and continued to expand and develop it. When he married his wife, Odile Dury, in 1975, the pair decided to join their names and label the wines under a new domaine name, Coche-Dury. In 1999 their son Raphael joined them in the business and now manages the property with his father.

Today, the vineyard extends to around 10.5ha, the vast majority of which is Meursault, with the rest distributed across small parcels in Puligny-Montrachet, Auxey-Duresses, Monthélie, Pommard and Corton-Charlemagne.

The domaine produces an average of 4,200 cases of wine annually, all but a small percentage of which is white. Red wines from the domaine are from lesser appellations than the whites and production is fairly limited. However, the domaine’s red Auxey-Duresse and Volnay premier cru are becoming more and more emblematic and sought-after.

The right combination
According to Jean-Francois Coche, a fine wine must combine “finesse, balance, nervousness, body and length”. At Coche-Dury, the yields are small due to the age of vines, the density of plantation and the short pruning process. Grapes are harvested early to keep high levels of acidity and control the sugar, giving the wine a vibrant crispness.

The white wine undergoes fermentation and ageing in 20-50% new oak for up to 22 months on lees with regular batonnage. This helps support the richness of the body, protects the wine from early oxidation and enables a long evolution in bottle. All wines from Coche-Dury are fined but never filtered.

The domaine follows the tradition of many Burgundian estates in using a system of direct allocation to their most trusted customers – on- and off-trade accounts as well as private individuals. Such customers are fortunate as, owing to its extremely limited renewal and a production level that the domaine does not intend to increase, few newcomers will ever be granted any. The secondary market thus appears the best way for enthusiasts to buy the wine.

Being the largest French auctioneer of wine, iDealwine is fortunate enough to be able to regularly offer bottles of Coche-Dury to its community of wine lovers across the world. In 2015, after Domaine de la Romanée-Conti and Armand Rousseau, Coche-Dury was the third most represented Burgundy estate on iDealwine auctions.

Looking at iDealwine price estimates based on auction results from top French auction houses, the trend is clearly upward for Coche-Dury, especially for its most iconic bottles. Since 2009, Corton-Charlemagne prices have increased significantly. The 1990 gained 52% to €1,775, the 1996 95% to €2,189, and the 1999 41% to €1,182.

A similar trend can be seen with Meursault 1er Cru Les Perrières. Since 2009, the 1990 gained 77% to €1,596, the 1996 78% to €1,241 and the 1999 134% to €758.

An upward trend
Since the beginning of the year, iDealwine sold an important series of bottles from the domaine, confirming the upward trend for both mature and recent vintages. In the auction that closed on 16 March, a Corton-Charlemagne 2007 sold to an English buyer for €1,680 – an increase of 25% on its price estimate.

On 30 March, a Meursault 1er Cru Genevrières 2013 bought by a US merchant reached €600 (+20%), while a 2010 of the same wine which was bought by a French wine collector reached 85% above its estimate at €720.

Demand for Coche-Dury isn’t market-specific and comes from all corners of the world from both professional and private bidders. The chart above shows the upward trend of three emblematic cuvées of Coche-Dury, all from the 1996 vintage.

To find out which Coche-Dury wines are on sale on iDealwine, click here.