News

‘Quintessential’ Margaux released at 30% reduction on last year’s opening price

06 June 2024 By Arabella Mileham

Château Margaux has released the 2023 vintage this morning at a 30.2% reduction on last year’s opening price, leading the day’s releases.

It has been released at €360 per bottle ex-négociant, down from €516 per bottle for the 2022 opening price a year ago and is also available at £4,320 per case of 12, down from £6,192 for the 2022 last year. The latest release is therefore one of the least expensive vintages of the past decade available on the market, which Liv-ex noted offered “reasonable value” if people can secure an allocation. Wine Lister noted that only the lower-scoring 2017 and 2014 were less expensive, and this was likely to encourage demand, particularly given “its powerhouse brand and strong quality in 2023”.

Critics widely applauded the wines with db’s Bordeaux correspondent Colin Hay calling it “the star of the show – a clear potential candidate for the wine of the entire left-bank”, “sublime, graceful and elegant”, while Neal Martin of Vinous called the 2023 a “quintessential Margaux”, also awarding it 97-99 points.

Meanwhile, the estate’s second wine, Pavillon Rouge du Château Margaux 2023, was also released this morning, at €120 per bottle ex-négociant, a 20% reduction on the 2022 release. It is being offered by the international trade for £1,440 per case of 12, down from £1,800 a case for last year’s release. However, as Liv-ex noted that several back-vintages provided better value, notably the 2019 vintage.

The estate’s white wine, Pavillon Blanc du Château Margaux2023 was also released at £2,880 per case of 12, marking a 9.4% decrease on the 2022’s opening price.

Margaux’s release price joins another round of estates who have listened to the market’s demands for hefty reductions on the 2022 pricing. For example yesterday saw the release of Château Rauzan-Ségla 2023 at €60 per bottle ex-négociant, down 28.6% on the 2022 opening price, Château Les Carmes Haut-Brion at €76.8 per bottle ex-négociant, another 28.9% on the 2022 opening price. Château Canon 2023 also hit the market at €90 per bottle ex-négociant, down 25.0% on the 2022 opening price, along with Château Calon Ségur 2023, released at €78 per bottle ex-négociant, a 23.5% decrease on the 2022 release (€102).

Bucking this trend however was Château Gruaud Larose, whose 2023 vintage was released this morning at €60 per bottle ex-négociant, down 13.8% on the 2022 opening price.

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