The 2024 Bordeaux en primeur campaign is shaping up as one of the most price-corrective in recent memory. In a remarkable return to the pricing levels of 2013–2014, many of Bordeaux's most prestigious châteaux are releasing their 2024 wines at their lowest ex-cellar prices in over a decade.
This follows the significant cuts already seen in the 2023 vintage campaign, where price reductions of 30–40% were common. Although slightly more restrained, the current reductions—often between 20–30%—send a powerful signal to the global wine trade: price recalibration is now a necessity, even for the world’s most esteemed producers.
Major Players Lead the Decline
The tone was set by Château Lafite Rothschild, one of the five Premier Grand Cru Classés, which released its 2024 vintage at EUR 240 per bottle ex-château, a 27.2% decrease from the 2023 release, essentially matching prices last seen over a decade ago. Château Angelus followed closely, cutting its price by 30.2%, down to EUR 150 per bottle ex-château.
Other icons like Château Cheval Blanc mirrored this strategy with its EUR 276 per bottle ex-négociant pricing—the lowest in more than ten years—despite a 35% drop in production for the 2024 harvest. On the London market, this translates to GBP 3,300 for a 12-bottle case, representing a 29.5% drop from last year. Likewise, Château Mouton Rothschild entered at EUR 252 per bottle ex-négociant, its lowest since 2014, or GBP 3,042 per case, a 25.2% decrease.
Broader Adjustments Across the Region
Many other high-profile Bordeaux estates have followed suit, signaling a region-wide acknowledgment of market resistance to high prices. For instance:
- Château Lynch-Bages: EUR 60 per bottle (ex-négociant), same as 2014, -14.3% in the UK market
- Château Haut-Batailley: EUR 32.4 per bottle, lowest since 2015, down 10.9%
- Others, including Montrose, Léoville Barton, Carmes Haut-Brion, Cos d'Estournel, Pichon Baron, Rauzan-Ségla, and Lascombes, are offering similar discounts ranging from EUR 45 to EUR 85 per bottle ex-négociant.
These cuts reflect a critical reassessment of positioning in a global wine market where price sensitivity—even in the fine wine segment—is now a clear reality.
Market Response: Cautious Optimism, Lingering Uncertainty
Despite the extensive discounts, market sentiment remains cautious. According to international trade reports and merchant feedback, buyers are hesitant, viewing the campaign with skepticism amid broader concerns over economic slowdown, inventory overhangs, and shifting consumer behavior.
The Bordeaux en primeur system, long praised for offering early access to collectible wines, has faced mounting criticism for detachment from real market demand. The ongoing correction may be a belated response, but it indicates that the region's top estates are now willing to align pricing with buyer expectations, at least for the moment.
As the final releases of the 2024 campaign approach, a significant reversal in pricing trends is unlikely. Instead, the Bordeaux system appears to be undergoing a necessary reset, both to restore consumer trust and to revitalize global interest in its future vintages.
Source: WineNews