What’s happening in the market?
High-value wines have taken centre stage this week, with Petrus 2000, Armand Rousseau, Chambertin-Clos de Beze 2001 and Domaine de la Romanee-Conti Echezeaux Grand Cru 2018 in the top spots by traded value.
US buyers remain quiet with an 11.2% share of purchased value, while UK buyers are in first place with 40.0%.
Today’s deep dive: best value Grand Marques, by price and vintage
In recent weeks, catalysed by the withdrawal of US buyers, we have seen Champagne’s share of the market decline (9.0% in April this year vs. 13.0% in 2024, recovering slowly back to 12% last week). Nevertheless, it remains a key region, offering highly rated wines in good volumes at lower prices than one might expect from Burgundy or Bordeaux. Moreover, having more appeal as a celebratory drink to less wine-focused consumers than other regions, Champagne has been relatively safe from changing tastes. Considering a selection of the top-traded Grand Marques on the market, where can buyers find the best value relative to quality, and which brands perform best in the long-term?
Grand Marques Market Prices vs. Antonio Galloni scores
Bollinger, La Grand Annee 2014, at £900 per 12×75 and receiving 98 points from Antonio Galloni (Vinous), comes in as one of the least expensive and best-rated Grand Marques vintages of the past twenty years. It last traded at £830 per 12×75 and is currently offered on the exchange at £890.
Depending on the preference of critic, however, other vintages may look more appealing. For fans of William Kelley, the 2008 Grande Annee, at £1,240 per 12×75, looks better placed.
Grand Marques Market Prices vs. William Kelley scores
In general, La Grande Annee and Comtes de Champagne appear to have strong quality:price ratios in the context of the Champagne 50. As the name ‘Grand Marques’ would imply, however, Champagne’s appeal is not only in its quality, but in its labels. Amongst different buying segments, different labels carry greater weight, with vintage reputation and rating playing less of a determining factor in willingness to pay. As is clear from the graph below, where the benefits of ageing are of less importance, younger vintages are the clear winners – prices of Champagne consistently (across brands) appreciate over time. Recent vintages, the 2012s and 2013s in particular, look reasonably priced (relative to their theoretical averages).
Grand Marques Market Prices vs. Age
Though Pol Roger’s Sir Winston Churchill tends to enter the market above its peers, its prices have historically appreciated more steeply over time. The 2018 vintage, released last week at £1,500 per 12×75, is positioned below any other vintage available on the market, and received 96 points from Galloni.
Buyers of Dom Perignon may take interest in the 2004. Receiving 98 points from Antonio Galloni and on offer on the exchange at £1,396, it’s one of the cheapest available vintages.
