Wine and Spirits
Uncovering Value in Bordeaux's First Growths: A Collector's Guide to Vintage Selection
2025-08-05

This detailed examination focuses on recent vintages of Bordeaux's top five châteaux, assessing their market value in relation to their critical acclaim. For four of these estates, the analysis covers the 2014-2024 vintages, while for Château Latour, which no longer participates in the 'en primeur' system, older vintages from 2006-2016 are included. The pricing data, sourced from Liv-ex, reflects the best listed prices in the secondary market for a full case of twelve standard bottles. Expert scores from Decanter's Bordeaux specialists provide the qualitative assessment. A significant divergence between price and score often indicates a potentially valuable acquisition for discerning collectors. It is worth noting that while popular 'on' vintages typically command higher prices, some producers achieve exceptional quality in 'off' years, leading to undervalued opportunities that savvy buyers can capitalize on.

Among the featured châteaux, Château Lafite Rothschild maintains a consistent presence in the secondary market, with its scores and prices generally aligning. However, its 2024 vintage stands out as the most affordably priced current offering, and the 97-point 2021 vintage presents another strong value. Similarly, Château Mouton Rothschild's 2024 vintage offers the most accessible entry point. Intriguingly, its 100-point 2018 and 2020 vintages are currently more affordable than the 99-point 2016 and 2022 vintages, suggesting that market preference for widely acclaimed years might overshadow individual estate performance. Château Margaux's pricing is influenced by its iconic 2015 vintage, but its 99-point 2020 vintage is notably undervalued compared to other highly-rated years. The 98-point 2023 vintage also offers excellent value. Château Haut-Brion stands out for being, on average, the most accessible of the First Growths. Its 97-point 2021 vintage is a remarkable bargain, while the 98-point 2023 vintage, despite its high score, is significantly cheaper than the 2022, indicating a potential 'sleeper' vintage.

Château Latour, renowned for its 'ready-to-drink' releases, generally commands higher prices, with its 2009 and 2010 vintages being particularly expensive. However, its 100-point 2016 vintage, released earlier this year, offers a more reasonable entry price compared to its illustrious 2010 counterpart. The 97-point 2011 vintage also presents an attractive opportunity, often overlooked due to its 'off' vintage status. These examples underscore that a truly astute collector prioritizes the individual quality of each château's vintage rather than relying solely on broader vintage classifications. By carefully analyzing price-to-score ratios and understanding market dynamics, collectors can uncover hidden gems and acquire world-class wines that deliver exceptional value. This strategic approach not only enriches a collection but also empowers informed decision-making in the dynamic fine wine market.

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