Bordeaux 2023

Campaign Starting this week

To get set for a new campaign. Existing customers, please log in. You will then be prompted to accept the T&C for this year. New customers, please register. Once you have logged in (registered and logged in) you will be able to start building your wish list for this year. A great way to start a shopping list and give us an indication of the wines you are interested in. When wines on your wish list are released, you will be informed quick smart. Then when wines are released, they will move from your Wish list, to a section that indicates they are now ready to request. From here you can decide if you want them, with visibility at this point of the price, or remove them off your list.

Your insiders guide to 2023 Bordeaux

Our GM Liz Wheadon has been in Bordeaux for the last week and has sent back this report, your insiders guide to 2023 Bordeaux. As she notes in this report, the first offers will be out early this week. With many big names, including Chateau Lafite-Rothschild, Chateau Pontet Canet and Chateau Leoville Las Cases already giving release dates. This is early and the pre planning of it unusual for an En Primeur campaign. The planning appreciated by the Negociants and Merchants, perhaps signaling a change in Bordeaux.

2023 Bordeaux – Defining a modern Classic 

Many references have been made to the 2023 vintage as a classic year. Traditionally, the term 'classic' in Bordeaux has often denoted a cooler year, one conducive to earlier drinking. So, why is the 2023 vintage being labeled as such? Not a growing season that is defined by being cool and with many of the wines from 2023 requiring long cellaring.

This vintage exhibits significant variation among Chateaux, with wines truly reflecting the terroir in which they were cultivated and crafted. Each winery's approach in the vineyard—whether to harvest early before the imminent rain or wait—along with techniques in extraction and aging, greatly influence the character of the wines.

Unlike the more uniform vintage style of the warm 2022 vintage, 2023 showcases a diverse array of flavors, which might be mistaken for inconsistent quality. However, this is far from the case; 2023 is a highly qualitative vintage, with flavors stemming from terroir expression and deliberate decisions in the winemaking process.

A comparative tasting of the 2021, 2022, and 2023 vintages at Chateau Branaire Ducru revealed fascinating insights. The 2021 vintage exhibited remarkable charm, delicacy, and approachability. In contrast, the 2022 vintage was more expressive, reflecting the warmth of the year, and displayed an impressive, somewhat international style. Standing beside these, the 2023 vintage emerged as quintessentially Bordeaux—a warm year marked by finesse, fruit ripeness, well formed tannins, and freshness. The 2023 wines can be aptly described as defining what are  'Modern Classics.'

Many of the wines were notably easier to taste En Primeur, with lower alcohol levels, lower pH, ripe fruit flavors, and well-integrated tannins. Notably, there are exceptional second wines, many of which appear enjoyable immediately. 

Vintage Report

For more details on the growing season, please check out the vintage report from the tab on the left

Where can we expect prices to be

There was a lot of discussion in Bordeaux this year on price, to be honest, there always is. Whilst each player in Place de Bordeaux at this stage seems to agree, nodding and saying the right things. All too often we walk away from the En Primeur tasting week and the decisions taken seem to have been oblivious to everything other than the precious wine they have crafted. However, this year, discussions on pricing felt different.

In essence, the Place de Bordeaux functions as a marketplace. En Primeur sales are conducted through this historic platform, although they constitute only a portion of the vast volume of wine traded. Within this market, Chateaux produce wine, Courtiers act as intermediaries connecting Chateaux with Negociants, who, in turn, distribute to their extensive networks worldwide. Typically, Negociants negotiate allocations with Chateaux, aiming to maintain or increase their share. However, when offers to global networks fail to garner sufficient interest, Negociants may be left with excess stock. Moreover, they also purchase wine for later trading. Pre-COVID, interest rates for such stock were around 1%, but they have since increased five-fold. Given the substantial value of the wines involved, this shift is significant.

This is part of where the difference in the conversation comes in this year, the Negociants are clearly saying, we can’t hold more stock, we need to be able to sell it on. In the context of the pressures in many markets, tax changes in a number and unrest, this could be difficult. To make the campaign successful and continue to have relevance, it’s very clear, that the prices must be reduced. The question then is by how much. 

The 2019 vintage campaign, often cited in discussions, was characterized by Chateaux showing considerable respect for the market, releasing wines at lower prices—a strategy that proved effective. Whether the prices go back to that level, or somewhere near, we won’t need to wait too long to find out. The first releases till be on Monday 29th April in France (Tuesday 30th in New Zealand). And in the first week we will see Chateau Lafite Rothschild released, the Chateau likely to signal a price position for the campaign. Talk around Bordeaux is of decreases between 20 – 35%.  The wines from this year are very good, in fact there’s many super impressive wines. If the price is right, this will be a great year to buy excellent Bordeaux.  

Offer 1 - out now. Chateau Batailley the first to release

Chateau Batailley was the first release today, our total Estimated En Primeur price $79.98 compared to $79.73 for the 2019 vintage. This is a great sign and exactly what we had anticipated (and hoped for). Whilst a good decrease, it is fair to say that Chateau Batailley had not increased their pricing by the same percentage as others. Offering good value over the recent campaigns and continues to with the 2023 vintage. 

This campaign is off to a flying start with circa 42 wines expected to be released this week, including many of the finest from the 2023 vintage. 

Offer 2 - Chateau Pontet-Canet and Chateau Leoville Las Cases

Two exceptional wines from this vintage lead today's offer. Chateau Pontet-Canet 2023 and Chateau Leoville Las Cases. both released at prices significantly below prior years. Chateau Leoville Las Cases's release price sits with the 2019 vintage and makes it brilliant buying. Whilst Chateau Pontet-Canet is just above the 2019, it is an absolutely stellar year for this property. Very quickly post release overnight, it has been selling strongly.