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Bordeaux 2023 market analysis: ‘Brilliant’ Pichon Comtesse down 35%

Château Pichon Longueville Comtesse de Lalande 2023 has released at a discount of more than 30% versus on its 2022-vintage en primeur offering from last year. 

Rated highly by Decanter and others, this could be one to watch in what is expected to be a busy few days of releases in the Bordeaux en primeur campaign – following a pause last week due to Vinexpo Asia. 

In the nearby Margaux appellation, top-rated Château Palmer 2023 also emerged on Monday afternoon (3 June), although the wine appeared to be more expensive than several back-vintages.

Four new releases: 

Château Pichon Comtesse 2023: 98pts (Decanter) | €110 per bottle ex-négociant, down 35.3% versus 2022 | UK price £1,320 per 12x75cl in bond (IB)
Château Palmer 2023: 98pts | €240 per bottle, down 18.6% | UK price £2,880 (12x75cl IB)
Château Branaire-Ducru 2023: 95pts | €32 per bottle, down 19.2% | UK price £386 (12x75cl IB)
Château Phélan Ségur 2023: 95pts | €31.2 per bottle, down 16.1% | UK price £370 (12x75cl IB)
Price data source: Liv-ex 

See Decanter’s full verdict on the Bordeaux 2023 vintage, plus ratings and tasting notes on the top-scoring wines

{“content”:”</p>
<h2 class="p1">Pichon Comtesse 2023 released</h2>
<p class="p1"><em>Decanter’s</em> Bordeaux correspondent, Georgie Hindle, rated <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-pichon-longueville-comtesse-de-lalande-pauillac-82102" target="_blank" rel="noopener noreferrer">Pichon Comtesse 2023</a></strong> 98-points, putting it among the top wines of the vintage and matching the in-barrel score for <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-pichon-longueville-comtesse-de-lalande-pauillac-69571" target="_blank" rel="noopener noreferrer">Pichon Comtesse 2022</a></strong>.</p>
<p class="p3"><span class="s2">‘One of a number of brilliant Pauillac wines in 2023,’ Hindle wrote. ‘This smells divine; lovely lush blackcurrant and black cherry characters on the nose with pencil led, graphite, liquorice and menthol elements – very Pauillac on the nose.’</span></p>
<p class="p5"><span class="s4">UK merchant Farr Vintners was particularly enthusiastic</span><span class="s5">: ‘I</span><span class="s2">f you are thinking of buying only one Left Bank &#8220;super second&#8221; in 2023 then this is probably the one.’</span></p>
<p class="p5"><span class="s2">With a UK price of £1,320 (12x75cl IB), the merchant said the wine is ‘significantly less than other top vintages [from the estate] and well below the prices of rival properties Léoville Las Cases, Cos d&#8217;Estournel and Ducru Beaucaillou – despite having higher scores’.</span></p>
<p>Alex Turnbull, head of private client and online sales at UK merchant Jeroboams, told <em>Decanter:</em> &#8216;Early signs are that this price reduction is being received very positively by clients. Having had a week of virtually no releases, [Pichon Comtesse] has reignited the en primeur fire.&#8217;</p>
<p class="p5"><span class="s2"><strong><a href="https://www.liv-ex.com/2024/06/chateau-pichon-longueville-comtesse-de-lalande-2023-released-en-primeur/" target="_blank" rel="nofollow noopener noreferrer">Liv-ex</a></strong> reported that Pichon Comtesse 2023 volumes released en primeur were down 20% versus the 2022 vintage.<span class="Apple-converted-space"> </span></span></p>
<p class="p5"><span class="s2">While it acknowledge the new wine is ‘less expensive than many other vintages currently available,’ it also said that the 2015 and 2019 wines were available at only a slight premium to the new release – describing them as ‘proven vintages’ that have benefited from additional time in the bottle.<span class="Apple-converted-space"> </span></span></p>
<h2 class="p1">Pichon Comtesse in-form</h2>
<p class="p1">Hindle has previously rated both the <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-pichon-longueville-comtesse-de-lalande-pauillac-48293" target="_blank" rel="noopener noreferrer">2020</a></strong> and <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-pichon-longueville-comtesse-de-lalande-pauillac-39501" target="_blank" rel="noopener noreferrer">2019</a></strong> vintages at 98-points, and <em>Decanter</em> market analysis last year highlighted Pichon Comtesse as a ’Super Second [growth]’ to watch.</p>
<p class="p7"><span class="s6">General manager and winemaker Nicolas Glumineau joined the Louis Roederer-owned estate in late 2012. Since then, he </span><span class="s2">has ‘built upon the enviable legacy of [ex-owner] May Eliane de Lencquesaing and taken the property to new levels of quality’, said UK merchant Bordeaux Index, following the 2023-vintage en primeur release.</span></p>
<h2>Château Palmer 2023</h2>
<p>Château Palmer is another estate that has been garnering strong quality scores in recent years, and <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-palmer-margaux-3eme-cru-classe-bordeaux-2023-82101" target="_blank" rel="noopener noreferrer">its 2023 vintage</a></strong> was also rated at 98-points by Hindle, up from <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-palmer-margaux-3eme-cru-classe-bordeaux-2022-70198" target="_blank" rel="noopener noreferrer">97-points for the 2022</a></strong>.</p>
<p>&#8216;What a Palmer in 2023!,&#8217; Hindle wrote. &#8216;Crazy aromatics, full and bright, packed with intense scents of pink and purple flowers, damson fruit.&#8217;</p>
<p>However, despite a drop of almost 20% on the 2022-vintage release, the 2023&#8217;s release price of €240 was relatively high suggested Liv-ex.</p>
<p>&#8216;Today’s release price makes the 2023 one of the most expensive vintages [of Palmer] available,&#8217; Liv-ex said in its analysis.</p>
<p>&#8216;Palmer has continued its series of punchy release prices,&#8217; said consultancy and analyst group <strong><a href="https://www.wine-lister.com/" target="_blank" rel="nofollow noopener noreferrer">Wine Lister</a></strong>. Yet, it added, &#8216;Critic praise and brand clout will likely still encourage interest.&#8217;</p>
<h2 class="p9">Château Branaire-Ducru 2023</h2>
<p class="p1">St-Julien-based fourth growth <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-branaire-ducru-st-julien-2eme-cru-classe-2023-82622" target="_blank" rel="noopener noreferrer">Château Branaire-Ducru 2023</a></strong> was also released onto the market today. It occupies a different price tier to the wines above, and the 2023 vintage was offered at £386 (12x75cl IB) in the UK.</p>
<p class="p3"><span class="s1">Hindle gave Branaire-Ducru 2023 95-points, noting that it is the first vintage produced in the estate’s new gravity-fed winery. </span></p>
<p class="p3"><span class="s1">‘</span><span class="s7">I like this a lot, still with freshness and cool undertones,’ she wrote. ‘Hints of cedar and spiced mint on the finish with some graphite and </span><span class="s2">wet stone, too</span><span class="s8">.’</span></p>
<p class="p5"><span class="s2">Despite being almost 20% cheaper than the debut price of the 2022 vintage, <strong><a href="https://www.liv-ex.com/2024/06/chateau-branaire-ducru-2023-released-en-primeur/" target="_blank" rel="nofollow noopener noreferrer">Liv-ex</a></strong> data showed the 2023 wine was more expensive than several back-vintages.</span></p>
<p class="p5"><span class="s2">Wine Lister painted a similar picture, reporting that the new release was offered at a 19% premium to the current price of <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-branaire-ducru-st-julien-4eme-cru-classe-2019-39577" target="_blank" rel="noopener noreferrer">Branaire-Ducru 2019</a></strong> – which was most recently rated 96-points by Hindle.</span></p>
<p class="p11"><span class="s9">Lister added: ‘</span><span class="s2">This release offers a significant discount on the 2022, as well as the majority of back vintages prior to 2018.’<span class="Apple-converted-space"> </span></span></p>
<h2>Phélan Ségur 2023</h2>
<p>&#8216;An excellent Phélan,&#8217; wrote Hindle of the latest release from this St-Estèphe estate. She rated <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-phelan-segur-st-estephe-bordeaux-france-2023-82297" target="_blank" rel="noopener noreferrer">the 2023 vintage</a></strong> at 95-points en primeur – level with the <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-phelan-segur-st-estephe-bordeaux-france-2022-69630" target="_blank" rel="noopener noreferrer">2022-vintage score</a></strong>.</p>
<p>After it was offered for around £370 (12x75cl IB) in the UK, however, Liv-ex said: &#8216;At this price, today’s release is one of the more expensive vintages currently available on the market.&#8217;</p>
<p>Its data suggested the new release was slightly above the current market price for the 2019 vintage. Liv-ex also suggested buyers interested in back-vintages might consider the <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-phelan-segur-st-estephe-bordeaux-france-2020-48338" target="_blank" rel="noopener noreferrer">2020</a></strong> vintage.</p>
<h2 class="p13"><span class="s2">De Pez 2023</span></h2>
<p class="p13"><span class="s2">Wine Lister also flagged the release of Roederer-owned <strong><a href="https://www.decanter.com/wine-reviews/france/bordeaux/chateau-de-pez-st-estephe-bordeaux-france-2023-82649" target="_blank" rel="noopener noreferrer">Château de Pez 2023</a></strong> this morning. Farr Vintners listed it at £210 (12x75cl IB), and Hindle gave the wine 94-points. <span class="Apple-converted-space"> </span></span></p>
<p class="p15"><span class="s10">‘</span><span class="s11">De Pez&#8217;s obvious upward quality trajectory should encourage some interest in the latest release,’ said Wine Lister.</span></p>
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