2018 has been a relatively flat year for Bordeaux prices. The Bordeaux 500 is up 1% for the year, compared to 6% and 15% by this time in 2017 and 2016 respectively.
Despite flatter market conditions, some brands are prospering. Aside from the Second Wines and chateaux on the rise such as Rauzan Segla and Carmes Haut Brion, an established Right Banker, Chateau Petrus, has had a strong 2018.
Petrus’s performance is slightly unusual. As the chart below shows it has diverged from its peer group index, the Right Bank 50 during the last few months. Subsequently, the wine’s index has risen 8.6% year to date, against a more modest rise of 2.3% for its peer group.
Breaking down Market Price changes by vintage shows that all vintages between 2002 and 2012 have risen in price, with the 2002 leading the way with a 12.7% gain. Market activity has been particularly strong for the 2009, 2006 and 2008 vintages, which has helped to push the prices of these wines up.
More recent vintages have not performed as well. Interestingly, the Market Price of the 2015 vintage has fallen 3.9% from £38,000 to £36,500 since the start of the year. This wine was awarded 98-100 points in bottle by Neal Martin, when he was still with the Wine Advocate in 2016. Lisa Perotti-Brown then confirmed Petrus 2015 as a 100-point wine in March 2018. James Suckling and Jane Anson agreed with her, but Martin scored the wine a lower 98+, which could explain why there has been a slight fall in price.
Considering the 100 point 2010 has a Market Price of £35,500, one might expect price convergence between the two wines in the coming months.