Spotlight on… Château Margaux 2015

25-Jan-2017


Spotlight on… Château Margaux 2015

THE APPELLATION AND CLASSIFICATION

Margaux, 1er Grand Cru Classé

THE COMPOSITION

Cabernet Sauvignon 87%, Merlot 8%, Cabernet Franc 3%, Petit Verdot 2%

THE CRITICS’ VIEWS

100/100, James Suckling “The best Margaux ever…”

98-100/100, The Wine Advocate

19/20, Jancis Robinson

THE TRADE’S VIEW

Liv-ex International Members’ “Wine of the Vintage”

THE RELEASE PRICE

Château Margaux 2015 was released in June 2016 at €384 per bottle ex-négociant in Bordeaux, with a UK price of £4260 per dozen.

THE CURRENT MARKET PRICE

The wine is still in barrel in Bordeaux and not due to become ‘physical’ until Spring 2018. However, since release, the value has increased +36.6%, driven by critic and trade-wise demand. It has a current value £5822 per dozen, as of 24th January, 2017.

COMPARABLE VINTAGES & OUTLOOK

With the high potential to achieve ‘perfect’ 100-point scores from both The Wine Advocate and James Suckling, Château Margaux 2015 can only be compared to the great vintages of Margaux. The Wine Advocate 99-point 2009 and 2010 vintages are currently valued at £6553 and £6241 respectively, suggesting near-term upside potential of +13%, should the wine only achieve 99-points. However, should the 100-points be achieved, an apt comparison would be the 100-point 2000, currently valued at £7950, or a potential increase of +37%, discounting general market uplift. In regards to long-term investment potential, the ‘perfect’ 1990 vintage indicates a potential uplift of +55.5%, currently valued at £9051 per dozen.

THE CHATEAU

The site of Margaux has been occupied since the 12th century, with vineyard plantings throughout much of its life. Wine was produced in the grounds surrounding the Lamothe château, under the name Margou or Margaous, in the 15th century. Subsequently, under the ownership of the Lestonnac family, noteworthy wine started to be produced the 16th century. Quality improved considerably during the 18th century, culminating in the property being sold to Bertrand Douat, the Marquis de la Colonilla, in 1802. Continuous quality resulted in the Château’s First Growth ranking in the 1855 Classification de Bordeaux. In 1949, the Genistet family (formerly of Château Lascombes) took ownership of the property, after their initial share purchase in 1925. Later sold to the finance group Félix Potin, headed by André Mentzelopoulos, the property finally came under full ownership of daughter Corinne Mentzelopoulos in 2003.

The property has 262 hectares under vine (Cabernet Sauvignon 75%, Merlot 20%, Cabernet Franc 2%, Petit Verdot and Sauvignon Blanc, for dry whites). Plantings are on high-gravel content, heat retaining soils, with excellent drainage.

Three wines are produced: Grand Vin du Château Margaux, Pavillion Rouge du Château Margaux (second wine) and Pavillon Blanc du Château Margaux (dry white).

THE VINTAGE

Common knowledge is that great Bordeaux vintages often come every 5 years (2000, 2005, 2010…). Château Margaux 2015 is no exception. A cold and long winter resulted in late budburst, however the vines flowered in optimum conditions. A long, hot summer, ample August rainfall and a perfect Indian Summer, with warm days and cool nights, resulted in perfectly balanced, concentrated, healthy grapes throughout much of Bordeaux. The wines are of considerable quality. Margaux’s harvest took place from September 8th to October 6th.Château Margaux 2015