Figeac 2022 was released today (22 June) at €252 per bottle ex-négociant, which represents a 55% jump on the release price of the 2021 vintage in last year’s Bordeaux en primeur campaign, said Liv-ex.
Figeac 2022 was offered in the UK at £3,036 per case (12x75cl in bond).
That’s a notable price jump, even in a Bordeaux 2022 en primeur campaign that has largely pitched wines as among the most expensive in recent years, backed by high ratings from critics.
Decanter’s Georgie Hindle rated Figeac 2022 at 98 points en primeur, adding it is a potential 100-point wine in-the-making. Look out for a possible upgrade once the wine is re-tasted in-bottle.
‘An incredibly impressive wine in 2022 [that is] shaping up to be the wine of the vintage,’ Hindle wrote. ‘It seems to defy the hot and dry conditions in every way [and] delivers such confidence and charm it makes it hard to resist.’
Liv-ex said the volume of wine released was down 20% on last year. Whilst the price is higher than some merchants expected, market confidence in Figeac has also been particularly buoyant following a run of high-quality vintages.
Prices have risen on the secondary market, and Figeac was promoted to Premier Grand Cru Classé A status in the new St-Emilion Classification last year.
UK-based merchant Bordeaux Index said, ‘This [2022] wine represents an important moment in history for the estate and they couldn’t have done a better job.’
Château Canon 2022 was another major release from St-Emilion this week, at €120 per bottle ex-négociant, around 33% up on the 2021-vintage en primeur release, said Liv-ex.
At £1,440 per case (12x75cl in bond) in the UK, Liv-ex said the 2022 vintage was one of the best value Canon wines on the market. UK merchant Farr Vintners said Canon 2022 was ‘massively oversubscribed and has sold out’.
Hindle rated Canon 2022 at 98 points. ‘A superb Canon in 2022,’ she wrote, describing it as ‘extremely polished and charming’.
Canon has also seen strong market momentum in recent years. Analyst group Wine Lister said high-scoring Canon 2020 has risen in price by 85% since release.
This, it said, indicated ‘potentially strong investment potential for the even higher-scoring 2022 vintage’.
Pomerol’s La Conseillante 2022 is another potential 100-point wine released this week. ‘A sensational effort in 2022, utterly fabulous and one of my favourites,’ wrote Hindle, giving it 98 points en primeur with a potential upgrade on the cards.
It debuted at €222 per bottle ex-négociant, up 42% on last year’s 2021-vintage release price, said Liv-ex. It was offered in the UK at £2,652 (12x75cl in bond), slightly cheaper than the 2018, 2016 and 2015 vintages, showed Liv-ex data.
First growths
This week has also seen the other three first growths joining Lafite on the market.
Mouton, Haut-Brion and Margaux 2022 were all released at €516 per bottle ex-négociant, up nearly 23% on the estates’ 2021-vintage debut pricng, said Liv-ex.
In the UK, Haut-Brion 2022 was £6,180 per case, Margaux 2022 was £6,192 and Mouton Rothschild 2022 was £6,216 (12x75cl in bond). Fellow first growth Château Latour no longer releases its wine en primeur.
Haut-Brion 2022 was rated 96 points by Decanter’s Hindle, with both Mouton 2022 and Margaux 2022 at 98 points.
Margaux 2022’s opening price was broadly in-line with the 2020 and 2019 vintages, showed Liv-ex data. Château Margaux 2015 is significantly more expensive than all other recent vintages. It received high ratings, and was also the final vintage of the estate’s late managing director Paul Pontallier.
Price debate likely to continue
Pricing is always a talking point at Bordeaux en primeur, but releases this year have been at the higher end of some merchants’ forecasts – and above forecasts in some cases, as previously reported.
Some top names have reportedly sold well, yet the wines are also entering a sluggish fine wine market.
Liv-ex said earlier this week, ‘There seems to be a disconnect between the prices set by châteaux, who are increasingly relying on the subset of buyers who will take their allocation regardless of price, and the general market sentiment.’
