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Wine-Searcher: Understanding the Surge in Burgundy Wine Prices

Over the last decade, one thing has remained almost certain in the world of fine wine: Burgundy prices have consistently climbed.

Compared to other wine regions like Napa and Bordeaux, Burgundy—particularly its iconic Pinot Noir—has become synonymous with luxury, rarity, and a near-automatic annual price increase. But is this trend really a given, or are there nuances that investors and wine lovers need to consider?

The belief that Burgundy – especially its iconic Pinot Noir – will consistently increase in price year after year has become something of a truism. However, this notion may not fully align with reality. While it’s true that the most expensive wines have seen significant price hikes, the picture is more nuanced than it first appears.

Inflation and Wine Prices: A Decade in Review

Looking at the bigger picture, inflation has risen globally by about 33% from 2014 to 2024. That means a product that cost 100 USD in 2014 would now, on average, cost around 133 USD. While this inflation is substantial, it pales in comparison to the gains seen in high-end collectible wines.

For those who have invested in expensive bottles over the past decade, the returns have been far more impressive. In fact, these investments have outpaced even traditional stock markets like the S&P 500, which has offered an average return of 11% over the same period.

The World's Most Expensive Wines of 2024 - Wine-Searcher

Let’s take a look at the top 10 most expensive wines in the world in 2024, ranked by their global average retail prices (GARPs). All but one of these wines hail from Burgundy, which continues to dominate the luxury wine market:

Rank Wine Name Score Average Price (USD)
1 Leroy Musigny Grand Cru 98 37,719
2 Domaine de la Romanée-Conti Romanée-Conti Grand Cru 98 24,676
3 Leroy Domaine d'Auvenay Chevalier-Montrachet Grand Cru 98 23,306
4 Leroy Domaine d'Auvenay Criots-Batard-Montrachet Grand Cru 97 22,184
5 Leroy Domaine d'Auvenay Batard-Montrachet Grand Cru 97 19,430
6 Domaine Leflaive Montrachet Grand Cru 96 18,886
7 Domaine Georges & Christophe Roumier Musigny Grand Cru 96 17,754
8 Egon Müller Scharzhofberger Riesling Trockenbeerenauslese (Mosel) 97 16,809
9 Domaine Roumier Echezeaux Grand Cru 93 14,546
10 Leroy Chambertin Grand Cru 98 13,510

 

A quick comparison with last year’s list reveals that these are the same wines, but with a significant twist: the prices were actually higher in 2023. On average, these wines saw a price drop of about 12% in 2024, after a surge of 29% the previous year.

For example, the Leroy Musigny Grand Cru saw a 22% drop in price this year. However, it's still more than twice the price it was just four years ago, when it stood at "only" 17,224 USD. This trend holds true for most of these wines – they are all significantly more expensive than they were just a few years ago.

The Most Expensive Wines of 2014 - Wine-Searcher

Let’s travel back in time to see what the top 10 list looked like in 2014. You might be surprised by the differences:

Rank Wine Name Score Average Price (USD)
1 Henri Jayer Richebourg Grand Cru 92 16,231
2 Domaine de la Romanée-Conti Romanée-Conti Grand Cru 98 13,228
3 Henri Jayer Cros Parantoux Vosne-Romanée Premier Cru 93 7,996
4 Egon Müller Scharzhofberger Riesling Trockenbeerenauslese (Mosel) 97 7,397
5 Hainle Riesling Icewine (Okanagan Valley) N/A 6,939
6 Domaine Leflaive Montrachet Grand Cru 96 5,884
7 Louis Roederer Cristal Gold Medalion Orfevres Limited Edition Brut 96 5,729
8 Henri Jayer Vosne-Romanée Beaumonts 90 5,506
9 JJ Prüm Wehlener Sonnenuhr Riesling Trockenbeerenauslese (Mosel) 98 5,422
10 Leroy Musigny Grand Cru 98 5,420

 

A decade ago, the average GARP of the top 10 wines was just 7,975 USD – almost tripling to 20,912 USD today. The inflation over this period accounts for only a third of that rise, illustrating just how valuable these wines have become.

It’s also interesting to note the diversity of the 2014 list, which featured two German wines, a Champagne, and a surprise Canadian wine in the top five. Today, however, Burgundy dominates.

Burgundy: Still a Safe Investment?

Despite a slowdown in the rapid price growth seen in recent years, Burgundy remains one of the safest bets in the fine wine investment world. While prices may fluctuate year to year, the overall trajectory has been unmistakably upward. As demand continues to outstrip supply for top-tier wines from producers like Domaine Leroy and Domaine de la Romanée-Conti, it seems Burgundy will remain a prized and profitable asset for years to come.

If you can afford to get in, top-echelon Burgundy still holds the crown in the world of collectible wine.

Source: Wine-Searcher

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