GO-TO BORDEAUX? 20 YEARS OF MARKET HITS AND MISSES

Bordeaux wines have hit stunning highs in the last 20 years, but buyers haven’t always enjoyed the ride and the investment picture has become more complicated. It’s been a golden two decades for Bordeaux winemaking, and hall-of-fame contenders include 2000, 2005, 2009, 2010 and 2016, as well as 2015 in some areas. Global demand for fine wine has increased, notably in Asia, where Hong Kong is now a major auction hub alongside London and New York.

Despite this, Bordeaux prices haven’t always risen consistently, and en primeur returns have been patchy. Bordeaux remains a bellwether of the wider market, yet it faces greater competition for collectors’ money from other regions, especially Burgundy (see chart p96).

First-growth focus

Châteaux Haut-Brion, Lafite Rothschild, Latour, Margaux and Mouton Rothschild have long been staples for collectors and would-be investors. Of the great years, the 2000 vintage has gained the. In March 2020, Mouton Rothschild 2000 in particular was priced at about £19,000 per 12-bottle case in bond versus its ex-London release of £1,580.