iDealwine update: a Rhône star

While Romanée-Conti and Petrus dominated the overall iDealwine auction rankings in 2016, the most expensive single bottle was an Hermitage La Chapelle. Investors would do well to take a closer look at this revered northern Rhône appellation.

2016 was a very exciting year at iDealwine, with 27 auctions held online, accounting for nearly 100,000 bottles and an increase in sales value of 24%, to €11 million (£9.5 million). We also offered a more diversified selection in terms of regions and appellations.

Although the rankings have always been dominated by wines from Bordeaux and Burgundy – with Domaine de La Romanée-Conti and Petrus usually occupying the top spots – it was the first time that the number-one-bottle position was held by a Rhône wine – an Hermitage La Chapelle 1961 from Paul Jaboulet Aîné went under the hammer for €13,320.

It was an Austrian enthusiast who managed to secure the coveted wine after a remarkable round of bidding that surpassed iDealwine’s high estimate of €12,000. It should be mentioned that the bottle had an excellent pedigree – it had recently been reconditioned and came with a certificate issued by the domaine. This record sale is certainly a clear illustration of the reverence with which this illustrious domaine is regarded.

Tale of terroir
Hermitage is made up of granite soils that cover 136ha of the northern Rhône. The appellation is mainly focused on Syrah but 25% of the vineyard area is given over to Roussane and Marsanne for whites.

On the east bank of the Rhône river, on very steep slopes, the appellation benefits from an average of 2,350 hours of sunlight per year, with most of the vines facing south, enabling good even maturation.

The vineyards of Hermitage are owned by a handful of producers – the co-op Cave de Tain, Chapoutier, Chave, Delas, Guigal and Jaboulet. Hermitage La Chapelle from Jaboulet takes its name from a tiny chapel built in 1235 by the knight Gaspard de Stérimberg on his return from the crusades.

The wine is a blend of 45-year-old Syrah sourced from 22ha of vines from four lieux-dits: Les Bessards, Les Greffieux, Le Méal and Les Rocoules. The harvest is carried out as late as possible to let the grapes reach optimum maturity of tannin and anthocyanin content. After an extended period in vats – 25 days on average – it is aged for 12 to 16 months in a combination of 25% new oak and 75% second fill.

Price evolution: Hermitage La Chapelle – Paul Jaboulet Aîné

Serious Syrah
La Chapelle is one of the world’s greatest red wines. In its youth, it is characterised by a dark colour that develops incredibly intense aromas. Lightly woody scents with notes of spices and wild, very ripe fruits, after a long ageing process, give way to aromas of liquorice, candied fruits, mushrooms, leather and undergrowth.

The wine shows incredible concentration and requires ageing for a minimum of 10 years to reveal the full scope of its aromas.

Thanks to its phenomenal longevity, the Hermitage La Chapelle rivals the very best reds from Bordeaux or Burgundy.

Bought by the Frey family – which also owns La Lagune in Haut-Medoc – in 2006, the estate is managed by Caroline Frey. Following a lower qualitative phase in the 1990s, the talent and success of the new winemaker has provided a beautiful new perspective on the wine, and a series of glorious recent vintages – such as 2009, 2010, 2012 and 2015 – are already highly sought after.

Since the domaine’s recent acquisition, production levels have been reduced to 2,000 cases from up to 7,000 cases in the 1990s. Everything seems to be set for a bright future in terms of quality.

Soaring demand
In iDealwine auctions, demand for this wine is truly global. Despite still reasonable prices for some vintage, like 2003 (€114) or 1995 (€89), the icons continue to fly high, such as the magnum of 1990 sold for €1,140 in the 21 September 2016 auction.

This vintage is considered by Robert Parker as “the modern-day equivalent of the 1961” and was granted 100 points like the legendary – and very expensive – 1961 and 1978.

The recent improvement in quality, combined with limited stocks and an increased global demand, should definitely perpetuate the upward trend for the wines of La Chapelle.

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