2010 ups the ante

As predicted yesterday on the blog, the 2010 campaign moved into full swing this morning. Today’s torrent of releases included Pontet Canet, Calon Segur and Giscours – all of which came to market at a significant premium to ’09 opening prices. Below is a roundup of the latest 2010 action.

Pontet Canet €100 p/b ex-negociant: +39% on 2009 (€72), +113% on 2005 (€47)
Calon Segur €57.6 p/b ex-negociant: +12.5% on 2009 (€51.2), +25% on 2005 (€46)
Echo Lynch Bages €25 p/b ex-negociant: +15.7% on 2009 (€21.6), +31.6% on 2005 (€19)
Pagodes de Cos €40 p/b ex-negociant: +11.1% on 2009 (€36), +90.5% on 2005 (€21)
Giscours €43.5 p/b ex-negociant: +19.2% on 2009 (€36.5), +27.2% on 2005 (€34.2)
Phelan Segur €27.6 p/b ex-negociant: +20% on 2009 (€23), +29.9% on 2005 (€21.25)

On average, the 2010s above were released at a 20 per cent premium to 2009 initial pricing. Whilst the trade's response to the majority of releases was somewhat tepid, Pontet Canet saw strong demand throughout the day. The wine traded on Liv-ex at £1,400 per case this morning before pausing at £1,210 in the afternoon. This was clearly a boon for the ‘09, which reached £1,260 per case – up from £1,185 last month.

The chart below shows the trading prices of recent vintages of Pontet Canet, as well as their scores from Robert Parker and the Wine Spectator. (The mid-point of the barrel-score spread is shown for 2009 and 2010.) Despite today’s surge in back vintage trade, many older wines – most notably the 2003 – continue to offer good value for money.

Pontet Canet trade price vs. critical opinion 

To keep up with all of the latest news from Bordeaux, follow Liv-ex on Twitter (@Livex) and Facebook (www.facebook.com/Livex.Fine.Wine.Exchange). Platinum Cellar Watch subscribers can view today's 2010 trades on liv-ex.com.