#ChampagneWishes BORDEAUX 2022 VINTAGE FAILED TO CAPITALISE ON POTENTIAL AT THIS YEAR'S EN PRIMEUR
This year's En Primeur failed to convert excitement for the 2022 Bordeaux vintage to sales despite great expectations among critics.
WineCap's Bordeaux 2022: Unfulfilled Potential report delves into the reasons why the campaign didn't quite deliver on hopes and the event's place within the industry in coming years.
While more attendees travelled to En Primeur to taste the hotly anticipated vintage, price hikes had tasters turning to older vintages of comparable quality available at lower prices. While merchants expected price increases of 7.7%, the average growth was between 15% and 25%, with some wines going up as high as 55%.
Moreover, the average in-barrel Wine Advocate scores for the 2022 vintage (94.6) were lower than their average in-bottle scores for the 2019 (94.9), 2018 (95.2) and 2016 (95.1).
Although not the result expected, there were some winners for 2022. The most successful releases, which sold out upon offer, included Château Cheval Blanc, Château Beychevelle, Château Lafleur, Château Les Carmes Haut-Brion, Château Brane-Cantenac, the First Growths and some Second Wines like Carruades de Lafite. The brands took into consideration existing appetite, vintage quality and, most importantly, offered value compared to physically available back vintages.
Top 10 best-performing Bordeaux brands
Wine
Region
Average price per case
Wine Track critic score
1-year price change
Chateau Filhot
Sauternes
£301
88.4
37 %
Chateau Climens
Barsac
£790
94.4
36 %
Chateau Lagrange
Saint-Julien
£469
89.4
24 %
Chateau La Fleur de Gay
Pomerol
£989
90.7
21 %
Chateau Doisy Daene
Barsac
£338
92.3
15 %
Chateau La Gaffeliere
Saint-Emilion
£732
91.3
12 %
Chateau Canon la Gaffeliere
Saint-Emilion
£830
92.5
11 %
Chateau Coutet
Barsac
£333
92.6
10 %
Chateau La Croix de Gay
Pomerol
£415
88.8
10 %
Chateau Belair-Monange
Saint-Emilion
£936
91.6
9 %
Source: WineTrack 2023
Recent En Primeur campaigns have highlighted that buying early is not a must for investing in Bordeaux; instead, a selective approach is required, based on a brand's overall performance and vintage quality.
While there is potential for price appreciation when buying En Primeur, there is no guarantee that the wines will increase in value. If stock remains unsold, collectors can often find wines with considerable bottle age at the original release prices or lower, like in vintages 2006 and 2011. This goes against the original premise of En Primeur.
Alexander Westgarth, CEO at WineCap said: "While the 2022 Bordeaux vintage didn't perform at En Primeur, critics were excited by it, with many commending winemakers for overcoming challenging weather conditions to produce a quality vintage on par with 2018, 2019 and 2020.
"There is no doubt that Bordeaux 2022 is a fantastic vintage. But given how high the release prices are, it is very hard for me to fully recommend purchasing these wines today, when you can buy equally great vintages such as 2019 and 2016 in bottle, and sometimes even mature classics like 2009 and 2010 at better prices. I fully expect many of the 2022s to be available to purchase for less money in the future."
To read WineCap's full report please visit https://wp.winecap.com/wp-content/uploads/2023/06/WineCap_Bordeaux_2022_Report.pdf
1 Qualitative research undertaken with senior representatives of 32 leading wine producers in Bordeaux during June and July 2022
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