- Latour and Palmer will once again test the price of provenance with library stock this September.
- La Place will offer its first Spanish wine this year.
- Beaucastel Hommage à Jacques Perrin 2019 will also be released.
Following on from our coverage on the upcoming Italian releases through La Place de Bordeaux, today we take a look at what leading European producers will offer this September – including some library releases.
Latour 2005 – the price of provenance
Château Latour is expected to offer more of the 2005 vintage this September, directly from its cellar. This is now the third tranche of 2005 released over the years, the last time being in 2017.
Since its withdrawal from En Primeur in 2012, Latour has offered back-vintages from its library, the latest being 2009, and two “new” releases, 2012 and 2013.
The estate had, however, been gradually reducing the amount of wine sold En Primeur from the early 2000s in anticipation of this new sales strategy. The first library release under this new programme was in 2013 when 1,500 cases of Latour 1995 were offered to the market.
This year, the 2005 Latour is coming (again) – but at what price?
Latour 2005 currently commands a Market Price of £7,250 per 12×75 case. The wine has risen 61% since its release En Primeur in 2006, when it was offered for £4,500.
Based on its critical reception, and with its current price tag, it still represents Fair Value, making it a good deal for both buyers and sellers.
Guaranteed provenance translates to a premium in the secondary market but will there be enough demand and at what price?
The 2005 is Latour’s most traded vintage by both value and volume year-to-date.
Palmer 2011 – still “wine of the vintage”
Marking another ex-château release, Palmer 2011 will be offered for the final time from the cellars of the estate this September.
For several years Palmer has only released 50% of its grand vin En Primeur. Starting last year, the following 50% is now being released on the third Thursday of September, 10 years on.
Palmer 2011 currently commands a Market Price of £2,040, up 27.3% on its release price. Its most recent score is from Jane Anson (Decanter), who gave it 94-points in July this year.
Back in 2014, Robert Parker awarded it 96-points and called it the “wine of the vintage” in Margaux.
“A tour de force in winemaking, the Palmer team merits accolades for achieving this level of quality in a more challenging vintage than either 2009 or 2010,” said Parker.
The 2010, released ex-château last year, commanded a 28% premium on the original release, and was offered by the international trade 35.2% above its current market – a price level that has not been sustained. Will we see the same this year?
Telmo Rodriguez’s “YJAR” 2017
Trade publication The Drinks Business announced that a blue-chip Rioja will be released via La Place de Bordeaux for the first time this September.
The inaugural, 2017, vintage of Telmo Rodriguez’s “YJAR” will be offered with a recommended retail price of €120 per bottle. Production volumes are just over 7,000 bottles, and the wine is “based on an old, high-altitude vineyard of 3.8 hectares, co-planted with a massal selection of Tempranillo, Graciano, Garnacha, Granegro and Rojal,” according to the magazine.
Could La Place de Bordeaux change Spain’s trajectory on the secondary market? Year-to-date, Spain has accounted for just 0.9% of trade by value.
As our most recent report highlighted, expanded distribution, particularly through La Place, has been one of the drivers behind California’s development. It seems that other Rest of the World regions might follow in suit.
Beaucastel Hommage à Jacques Perrin 2019
The Rhône’s Beaucastel Hommage à Jacques Perrin 2019 is also expected this September and has not yet been tasted by any major critics.
You can read about the Rhône’s secondary market development over the past two decades in our extended report, “The Rhone: Solid as a Rock”.