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Lower En Primeur volumes: Bordeaux estates explain

The nature of Bordeaux’s En Primeur campaign varies each year depending on growing conditions and market forces. However, one aspect is emerging as a strong trend across vintages: volumes released during En Primeur are decreasing.

WineCap spoke with prominent Bordeaux producers for deeper insights into the reasons for this pattern.

  • Interviewed châteaux release between 60% and 90% En Primeur.
  • Rising temperatures and organic farming reduce yields and En Primeur offerings.
  • Châteaux need to consider both on- and off-trade customers.
  • Climate change necessitates holding wine for style, and brand preservation in future.
  • Competition to produce the highest quality reduces volume.

Decreased production and adaptable approach

Several producers WineCap interviewed explained that, in addition to the variable vintages typical of the Bordeaux region, global warming and changing vineyard practices are lowering yields.

Château Pichon Comtesse, Second Growth, Pauillac

Nicolas Glumineau, CEO and winemaker, recognised lower yields and wine volumes in recent years as contributing to the changing dynamics of the En Primeur system.

‘For Pichon Comtesse, it’s not due to the fact that we want to retain more volumes here in the cellars,’ Glumineau told WineCap. ‘I really do believe in the En Primeur system, despite seeing less and less volume of wine released this way. Volumes released have gone down because of lower yields over the last ten to 15 years. Still, I want to play the game of En Primeur, so that’s why we release something like 80% of our production every year’.

Château Smith Haut-Lafitte, Grand Cru Classé, Graves

Florence Cathiard, co-owner with her husband Daniel of Château Smith Haut-Lafitte, said that low yields influenced their decisions to reduce En Primeur volumes but commented that it was possible some maneuvering occurred.

‘For us, it’s not voluntary. It’s because of organic certification, which means we tend to have too low volumes,’ she said. 

Château Margaux, First Growth, Haut-Médoc

‘The En Primeur volume, of course, is lower than ten or 20 years ago because the yield is much lower than before. Also, we are much more demanding in our selection for Château Margaux. So the total volume of Château Margaux has decreased tremendously,’ managing director, Philippe Bascaules, told WineCap. ‘That said, the quantity of En Primeur hasn’t changed a lot. Depending on the vintage, we can sell 70% to 85% of the production’.

Bascaules emphasised that it was the level of the yield and strict selection for quality control, rather than the house’s reluctance to participate, that created an impression of reduction. ‘En Primeur is very important for us’.

Château Pavie, Premier Grand Cru Classé (A), Saint-Émilion

‘At Château Pavie, we haven’t really changed the policy of let’s release less wine or let’s release more wine,’ Olivier Gailly, commercial director, said. ‘We adapt vintage to vintage. There is no strict rule as to what we want to release; the percentage might change vintage after vintage, depending on the dynamic of the market and of the vintage itself’.

Château Clinet, Pomerol

‘I think the main reason for the reduction in En Primeur volumes is the fact that sustainable viticultural practices reduce the volumes made per producer,’ Ronan Laborde, managing director and owner, explained.

‘Also, there is a strong competition to produce the best wine possible. You cannot do this with high volumes. So that’s why you also see more and more Bordeaux wine producers offering second wines or sometimes third wines. So, the quantity produced on the first wine is reduced. I think these are the two main reasons why the En Primeur volumes that are offered seem to be smaller than in the past’.

Customer choice

While some Bordeaux producers have a flexible strategy to their En Primeur releases, others believe that such versatility can have drawbacks, and that producer marketing and client demand should dictate stability in decision-making.

Troplong Mondot, Premier Grand Cru Classé B, Saint-Émilion

Ferréol du Fou, commercial director of Troplong Mondot, described lowering En Primeur quantities as ‘a huge mistake’, citing customer appetite as a key driver to the house’s stance.

‘Our strategy is to release 80% of the production every year, even if production is low. People need wines, and we need to show the label to the world. En Primeur is a way to offer a good deal for the consumer’.

Château Beau-Séjour Bécot, Premier Grand Cru Classé B, Saint-Émilion

Julien Barthe, who co-owns Château Beau-Séjour Bécot with his wife Juliet, has a similar position.

‘I think it’s a big mistake for many châteaux because they want to increase their prices, so they deliver a small volume. I really don’t think it’s a good way to promote your wine,’ he told WineCap. ‘This is not the case at Beau-Séjour Becot. We release around 85% to 90% of our production every year because we want to offer a good number of bottles to all our clients. We want to say ‘thanks, guys, you buy my wine, we are happy, we will be happy when you drink this wine’’.

Château Pichon-Longueville Baron, Second Growth, Pauillac

Christian Seely, managing director of AXA Millésimes, which owns Château Pichon-Longueville Baron, also believes that offering customers options is crucial, even if this involves holding a substantial amount of stock.

‘We release about half of our production of Grand Vin En Primeur, and we keep the other half back for a number of years,’ he said. ‘The reason we do that is that it gives our customers two options; if they want to buy En Primeur, they can. If they don’t feel like buying En Primeur and would like to come back and buy the wine from the property five years later, we still have stocks of wine for them here. The chances are it’s going to be a little bit more expensive a few years later, but it would have been kept in the perfect location at the property. So, by doing half En Primeur and half stock available at the château, we feel that we’re offering our customers the choice’.

Châteaux traditional commercial activities

An important influence on En Primeur release quantities for several chateaux is retaining volumes to maintain established business activities on site and throughout on- and off-trade networks.

Château Beychevelle, Fourth Growth, Saint-Julien 

Philippe Blanc, general manager of Château Beychevelle, stressed to WineCap that the house took local customers into account when making decisions about what levels of wine to release En Primeur.

‘We don’t play the scarcity game, we play the game of En Primeur’, he said. ‘We’ve got over 100 negociant customers, which is a lot, and we sell 85% of our production En Primeur. Before 2016, we were selling 95% or 96%, which is extremely high. We were frustrated to not have any volumes of available wines for doing anything. For example, if tomorrow you decided you wanted to have an event with us, we could make an event because we always have enough wine for drinking, but we have no wine for selling. It was a bit frustrating for us and the merchants here or abroad when they asked for, say, five cases of wine for customers, and we had no wine. So, we decided to decrease the shares sold En Primeur to 85%.’

Blanc went on to explain that, while there had been a decrease in En Primeur volumes, there was no intention to go lower. ‘And why are we so dedicated to En Primeur? Beychevelle, as you probably know, is a wine which increases its value over time, and our golden rule is that the Primeur price is the lowest you can get. We could say, okay, keep more, because the price will go up, but we don’t want this policy, because setting the price at a more reasonable level makes it possible to sell it to the traditional market. So, we stick to that.’

Château Canon, Premier Grand Cru Classé, Saint-Émilion

Nicolas Audebert, winemaker and general manager of the Saint-Émilion estate, has the same perspective on En Primeur with the house operating within its framework. It also considers the on-trade environment when making decisions about wine proportions for the annual campaign.

‘We consider that the En Primeur moment and campaign are extremely important, and we play the game. We do not put a small volume in En Primeur,’ he told WineCap. ‘Of course, we keep some volume here at the chateau to be able to have wine for the next 20 years, to have wine for the bibliothèque, and be able to do fantastic tastings 80 or 100 years from now.’

The chateau puts a minimum of 70% of the production, every year, En Primeur, with Audebert describing it as a ‘fantastic time where everybody’s looking at Bordeaux’ and ‘a win-win for the consumer and for us’.

Château Cheval Blanc, Saint-Émilion

At between 60% and 70%, Pierre-Oliver Clouet, winemaker and the technical manager at the Right Bank house, sometimes commits even lower amounts than peers to the En Primeur campaign.

‘We keep around one-third of our crops to sell in five, ten, or 15 years, to have an opportunity to provide some bottles to restaurants, wine shops, or distributors who don’t have the opportunity to have storage. We alter the model a little between two-thirds En Primeur and one-third available for the market – ready-to-drink, in fact’.                                                                

Wine heritage

For Cos d’Estournel, the annual En Primeur allocation decision relates to the house’s legacy: mitigating the impact of climate change on the classic and recognisable style of the house’s wine is of prime concern.

Cos d’Estournel, Second Growth, Saint-Estèphe

‘Well, in terms of En Primeur, the volumes are quite different compared to before because before, the context was different,’ commercial director Charles Thomas told WineCap. ‘Twenty, 30, or 40 years ago, when you couldn’t sell your wine, you would sell all your wine if you could. Also, when you look at global warming, the style of wine could be a bit different in 20 years. So, in terms of style, it’s also quite important to keep some wine that we make now and to be able to release it later on.’

See also our Bordeaux I Regional Report. 

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How fine wine investment attitudes differ in the UK and US

  • UK investors are moving faster than their US counterparts in handing over to a younger, tech-savvy generation, with a sharper decline in ‘very experienced’ participants.
  • US portfolios still allocate more to fine wine on average, reflecting a greater appetite for alternative assets despite similar downward trends in allocation.
  • Both markets are embracing digital tools and AI-driven insights, but the UK appears slightly ahead in integrating fine wine into a broader fintech-enabled investment strategy.

The fine wine investment market in 2025 is experiencing a paradigm shift on both sides of the Atlantic. While the United Kingdom and the United States share many overarching trends like the rise of a younger, tech-savvy investor base and the repositioning of fine wine as a strategic asset, the nuances in their trajectories highlight key cultural, financial, and strategic differences.

A shared generational shift at different paces

Both the UK and US reports depict a clear generational handover in fine wine investment. Baby boomers, once the stalwarts of the market, are selling off holdings accumulated over decades. In their place, a new cohort of Millennial and Gen Z investors is emerging – individuals who see wine less as a consumable luxury and more as a data-driven, alternative investment.

*UK

However, the pace of this transition is more pronounced in the UK. Only 32% of UK investors in 2025 are now classified as ‘very experienced’, a sharp drop from 52% in 2024. In contrast, the US market still holds a stronger base of experienced investors, with 44% falling into that category – a modest decline from 48% in 2024.

*US

This suggests that while the UK is undergoing a more aggressive generational overhaul, the US market remains slightly more anchored in legacy investor behaviors. This could reflect cultural factors, such as the USA’s longer-standing tradition of wine collection, or structural elements like the greater maturity of digital investment platforms in the UK.

Diverging portfolio allocations

In both markets, fine wine is increasingly treated as a complementary asset class rather than a core holding. This shift is evident in declining portfolio allocations. In the UK, the average portfolio allocation to fine wine has dropped from 10.8% in 2024 to 7.8% in 2025. US investors have larger allocations overall, which have still declined from 13% to 10.7% on average year-on-year.

While both reductions are linked to recent price corrections and broader diversification strategies, the US still shows a greater willingness to commit higher portions of wealth to fine wine. Notably, 40% of US investors still allocate 11–20% of their portfolio to wine, compared to 18% in the UK.

This discrepancy may be driven by different attitudes toward risk, or a reflection of the US investor’s broader enthusiasm for alternatives – including crypto, art, and collectibles – where fine wine fits comfortably into a high-yield mindset.

Technology and the new investor toolkit

One unifying force across both markets is the use of AI, data analytics, and digital platforms. The new generation of investors is not relying on intuition; they’re using dashboards, price trends, and machine learning models to inform their trades.

*UK

This transformation is blurring the line between emotional and analytical investment, enabling fine wine to shed its image as a passion-led endeavor and gain legitimacy as a financial tool. However, the UK appears slightly more mature in this regard, perhaps due to a tighter integration between fintech and alternative asset platforms.

*US

Market sentiment: recalibration, not retreat

Despite recent price softening, neither the UK nor US market is retreating. Instead, both are recalibrating. Experienced investors are taking profits, newer investors are entering at lower price points, and portfolio managers are redefining what role wine should play – most now agree it’s a diversifier, not a pillar.

Crucially, both markets anticipate that today’s corrections will lay the groundwork for tomorrow’s gains. Historically, fine wine has shown resilience and rebound capacity. The current dip may ultimately broaden participation and enhance long-term sustainability.

Two markets, one destination

The UK and US fine wine investment landscapes are converging in vision, yet diverging in pace and personality. The UK is evolving faster – more volatility-tolerant, more digitally advanced, and more dynamic in reallocating portfolios. The US, by contrast, remains a more anchored, cautiously progressive market, with higher average allocations but slower risk adoption.

Yet both markets are ultimately moving toward the same future: a fine wine investment world that is younger, smarter, more inclusive, and increasingly strategic.

As fine wine sheds its elitist past and embraces a tech-enabled future, investors on both sides of the Atlantic recognise fine wine’s growing potential.

Looking for more? See also: 

WineCap Wealth Report 2025: UK Edition

WineCap Wealth Report 2025: US Edition

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Fine wine in the age of AI

  • AI has emerged as a transformative force in investment management. 
  • 98% of UK wealth managers expect AI to have a significant impact on fine wine investment in the next five years. 
  • Key areas include greater investor control, wider market acceptance and improved transparency.

Artificial intelligence (AI) has emerged as a transformative force in investment management, reshaping industries through advanced data analysis, predictive modelling, and automation. From equities to property, AI-powered tools can process vast amounts of information, identify patterns, and spotlight opportunities with unprecedented speed.

The fine wine sector, traditionally reliant on expert opinion, historical market trends, and insider knowledge, is now at the cusp of a similar transformation. AI is set to redefine how fine wine is valued, traded, and perceived within investment portfolios. Only 2% of WineCap’s latest survey respondents believe AI will have no impact on fine wine investment in the next five years. This overwhelming consensus highlights the disruptive potential of AI and its role in increasing market efficiency, accessibility, and transparency.

So, how exactly is AI poised to reshape fine wine investment? Insights from industry participants highlight several key areas of transformation.

Greater investor control: A shift away from brokers?

The most significant impact predicted by 76% of respondents is that AI will make it easier for investors to control their investments independently.

Historically, fine wine investment has required expertise from brokers, consultants, and wine merchants who provide insights into market pricing, provenance, and expected returns. 

However, AI-driven platforms might reduce reliance on intermediaries by offering investors real-time valuations based on live market transactions and historical performance, automated risk assessments and tailored portfolio strategies.

This shift means that both new and experienced investors will have more tools at their disposal to make informed decisions, potentially leading to a more democratised market.

Fine wine as a more widely accepted asset class

AI’s ability to provide data-backed insights is expected to enhance the credibility of fine wine as an alternative investment category. According to our survey, 72% of UK wealth managers believe AI will make fine wine a more widely accepted asset class.

Currently, one of the biggest barriers to institutional investment in fine wine is valuation inconsistency and market opacity. Unlike stocks, which trade on transparent exchanges, fine wine prices may vary across different auction houses and merchants. 

AI can help solve this problem through improved risk modelling, more accurate valuation algorithms and enhanced demand forecasting to predict which wines will appreciate over time.

With these advancements, institutional investors and wealth managers will find it easier to allocate capital to fine wine, increasing its legitimacy alongside other alternative assets like gold and property. 

Attracting a new generation of investors

Nearly 48% of our survey respondents believe AI will make fine wine investment more appealing to younger generations. This shift is critical as baby boomers – who have traditionally dominated fine wine collecting – begin to exit the market, and younger investors with a digital-first mindset step in.

AI-driven platforms might lower entry barriers for new investors by offering intuitive user interfaces similar to modern trading apps like Robinhood or Wealthfront and providing personalised investment recommendations based on user preferences and risk tolerance.

By enhancing accessibility, AI can help bring fine wine investment into the mainstream of digital wealth management, positioning it alongside equities and ETFs as a viable portfolio component.

Improved transparency in the fine wine market

Lack of transparency has long been a challenge for fine wine investors, making it difficult to track pricing trends, authenticate bottles, and assess liquidity risks. However, AI-powered analytics are poised to change this by introducing new levels of visibility and accuracy into the market.

According to the survey, 38% of respondents believe AI will bring greater transparency to the industry. Key improvements might include live tracking of historical price movements, enhanced authentication processes, and supply-chain analytics;

These improvements will increase investor confidence, reduce information asymmetry, and create a more efficient secondary market.

WineCap Wealth Report 2025: UK Edition

What does the future hold?

While AI is still in the early stages of adoption in fine wine investment, the technology is already proving its value by enhancing investor control, broadening market access, and increasing transparency. The next five years are likely to see even greater integration of AI into fine wine investment strategies. Potential developments include blockchain integration, predictive analytics, and automated trading platforms.

As the fine wine investment landscape evolves, those who embrace AI-powered insights will gain a competitive edge, benefiting from greater market clarity and data-driven decision-making. The fine wine sector is on the brink of a technological revolution – one that could reshape how investors interact with and perceive this centuries-old asset class.

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by investing in wine. Speak to one of our wine investment experts and start building your portfolio. Schedule your free consultation today.

 

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How does Bordeaux set its release prices?

In the springtime of each year, all eyes turn to Bordeaux as the region begins its extended En Primeur campaign when châteaux across this prominent region set their wine prices.

Such decisions require the navigation of multiple factors within a delicate financial and cultural ecosystem. WineCap spoke with eminent producers for insights into what influences the all-important price setting.

  •         Previous vintages and price key influences
  •         Profitability for all players is an important driver
  •         Compelling price point for customers is critical
  •         Brand and critical ratings have some impact

Château Smith Haut-Lafitte, Grand Cru Classé, Graves

“Don’t believe people say, ‘I do it all by myself’,” said Florence Cathiard who co-owns the Graves house with her husband Daniel. “It’s a long process and very delicate because we have to take several parameters into account.”

These include contemplating pushing prices higher because of swift sales in previous years, the vintage quality, and the general global environment.

“We also take advice from some of the best négociants, brokers, and even some importers — not those who are just trying to put the price down, to sell high, but the real friends.”

Château Pichon-Longueville Baron, Second Growth, Pauillac

Christian Seely, managing director of AXA Millésimes, owner of Château Pichon-Longueville Baron, has devised a formula for the optimal release price of a Grand Cru Wine.

“The ideal price is the highest price possible at which my existing customers will buy the wine with enthusiasm,” he said. “It has to be the highest price possible, otherwise I might get fired. But it has to be the highest price possible at which my existing customers will buy the wine with enthusiasm. If you go too high, your existing customers might buy it without enthusiasm. If you go much too high, maybe your existing customers won’t buy it, and that would be terrible. It’s a personal judgment based on experience.”

Château Pichon Comtesse, Second Growth, Pauillac

Nicolas Glumineau, CEO and winemaker of Château Pichon Comtesse, combines mathematics with common sense.

“To price the wine correctly, you have to be very respectful of your market. And what we do is to have a very sharp eye on market prices,” he explained. “We consider that each step of the distribution chain has to get remuneration. It’s very important for each of us to earn money thanks to the distribution of Pichon Comtesse.”

Château Cheval Blanc, Saint-Émilion

Pierre-Oliver Clouet, Managing Director at Château Cheval Blanc has a similarly logical approach.

“En Primeur should be forever the lowest price you can find in your bottle,” he told WineCap. “The release price depends on many things: the quality of the vintage, the economic context in the world, and, as well, the price of new vintages available on the market. So, ultimately, the definition of the price En Primeur is not something difficult to reach. This is something mathematical.”

Château Canon, Premier Grand Cru Classé, Saint-Émilion.

Nicolas Audebert also follows mathematical logic in the pricing game. “If you go En Primeur, the interest for the consumer, the guy buying the bottle is that ‘if I buy en primeur, the bottle that I will put in my cellar and not able to drink now, it has to be at a lower price of the same quality I can buy in the market and drink now’,” he told WineCap.

Audebert takes an equivalent quality vintage from recent years, considers the margin, does some precision-calculations, and arrives at a price that offers a ‘win-win’ for all parties.

“Of course, afterwards, you can have ‘plus-value’ on the exceptional quality of the vintage or something like that. But if we play primeur, we have to play the game of logical pricing.”

Château Pavie, Premier Grand Cru Classé (A), Saint-Émilion

“There are some secrets,” jokes Olivier Gailly, commercial director for the Perse wine family at the renowned house. “There are a lot of different factors, which are, first of all, the history of your château, the different vintages and prices in the past, and how successful it was.

If the market demands, you have to push some, but you have to listen to it as well. Of course, ratings still play a role, meaning the feedback from the customers when they come and taste during the En Primeur week in Bordeaux. We then meet with Monsieur Perse and take the decision together. The final one will be his, being the owner of the property.”

Château La Mondotte, Premier Grand Cru Classé, Saint-Émilion

“If you have the wrong price, it’s a disaster,” Stéphane von Neipperg, owner of the Right Bank house said. “Nobody wants a lot of people wh don’t want to buy the wine.”

When his team goes to the market, they consider the global economy, the local market price direction, and information from brokers and négociants. “You have to absolutely test the price with negotiants, brokers, and also with your friends, the importers. Then we can say, ‘well, this would be a good price’. A good price is when everyone in the business makes money.”

Cos d’Estournel, Second Growth, Saint-Estèphe

Charles Thomas, commercial director of the Left Bank château, places an emphasis on quality and the good value the region offers when deciding on price. “I would be lying if I said it doesn’t depend sometimes on the exchange rate,” he said. “But also, it’s according to the quality we have — and this is the most important thing. Bordeaux is not expensive when you look at Burgundy and Napa Valley and some wine from other appellations.”

Vintage has more of an impact than elsewhere and can link to market price, Thomas added. “Of course, in Bordeaux you have the vintage effect that you don’t always have in other parts of the world. We try to be more stable for the client or the consumer, though, so they can accept any necessary price variation.”

Château Angelus, Saint-Émilion

As well as previous vintage pricing in Bordeaux and internationally, for Château Angelus CEO Stéphanie de Boüard-Rivoal, two more factors are key influences when the prestigious house goes to market.

“The volume as well, of course, because it makes a real impact,” she explained. “I’d say the strength of the brand as well.”

See also our Bordeaux I Regional Report. 

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by investing in wine. Speak to one of our wine investment experts and start building your portfolio. Schedule your free consultation today.

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What makes fine wine a great portfolio diversifier?

  • One of the key characteristics that make fine wine an attractive diversifier is its low correlation to traditional financial markets.
  • Its scarcity and tangibility further drive up its value. 
  • According to the WineCap Wealth Report 2025, 96% of UK wealth managers expect demand for fine wine to increase, a testament to its growing recognition as a valuable asset class. 

Moreover, fine wine’s value is tied to its provenance, condition, and aging potential, making it a tangible investment with intrinsic worth. Unlike cryptocurrencies or speculative stocks, which can experience extreme fluctuations based on sentiment or market cycles, fine wine benefits from an established secondary market where demand remains steady among collectors, investors, and luxury buyers.

Inflation hedge and wealth preservation

Fine wine serves as a natural hedge against inflation, protecting purchasing power when traditional assets are eroded by rising costs. As inflation increases, the prices of hard assets like fine art, real estate, and fine wine tend to appreciate, maintaining their value in real terms.

Wealth managers increasingly recommend allocating a small percentage of a portfolio to alternative assets like fine wine to safeguard against economic turbulence.

Tax efficiency for UK investors

For UK-based investors, fine wine presents a significant tax advantage over traditional investments. Unlike stocks, real estate, or business assets that are subject to Capital Gains Tax (CGT), fine wine is classified as a “wasting asset”, meaning it has an anticipated lifespan of less than 50 years.

This classification makes fine wine exempt from CGT, allowing investors to realise profits without the same tax burdens as other asset classes.

For example, a traditional investment yielding a £5,000 profit could be subject to CGT at rates of up to 24%, reducing net returns. In contrast, a fine wine investment with the same £5,000 profit would be tax-free, maximising gains for high-net-worth investors.

This tax efficiency makes fine wine particularly attractive in wealth management strategies, especially as the UK government has lowered CGT allowances and increased tax rates in recent years.

Growing institutional and HNW investor demand

The perception of fine wine as a viable financial asset is rapidly evolving. Traditionally the domain of private collectors and enthusiasts, fine wine is now being incorporated into portfolios managed by wealth advisors, family offices, and institutional investors.

According to the WineCap Wealth Report 2025, 96% of UK wealth managers expect demand for fine wine to increase, a testament to its growing recognition as a valuable asset class. 

Additionally, AI-powered investment tools are making fine wine more accessible to a broader range of investors. Fine wine companies and professionally managed portfolios allow investors to gain exposure without needing deep industry expertise.

This institutional adoption further legitimises fine wine as a serious financial instrument, enhancing its liquidity and long-term viability.

Why fine wine deserves a place in your portfolio

Incorporating fine wine into an investment portfolio provides stability, tax efficiency, inflation protection, and strong diversification benefits. Its low correlation with traditional assets makes it particularly valuable during periods of market uncertainty, while its scarcity-driven appreciation ensures long-term value retention.

For investors seeking to protect and grow wealth, fine wine remains one of the most compelling alternative investments available today.

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Part II Bordeaux climate change: adaptive viticulture the way forward?

Climate change Bordeaux

With vineyard temperatures on the rise in Bordeaux, WineCap spoke with leading Bordeaux estates about how they’re fighting back to protect both wine heritage and future generations.

  • Adaptive viticulture is a widespread method of coping with climate change.
  • Traditional and experimental moderating methods are both in use.
  • High temperatures can be beneficial for recent and, potentially, near-term vintage quality.

Vineyard layout, clones, rootstocks, and varietal proportion: Château Beau-Séjour Bécot, Château Margaux, Château La Conseillante, and Château Pavie

To moderate the impact of climate change, Julien Barthe, co-owner of Beau-Séjour Becot has implemented a radical vineyard layout change to prevent berry burn. ‘The vineyard was formerly planted in an east-west direction. From mid-day to 1 pm, the sun arrived on the west side, right on the berries. This is why we changed the orientation from north to south ­— to avoid the same effect.’

Philippe Bascaules, managing director of Château Margaux has taken the same approach. ‘We decided to change the orientation of our rows,’ he told WineCap.

Barthe also explained that the house is using new clonal selections of Cabernet Franc to help retain the freshness in its Merlot-dominant blends.

Cultivating resilient vines was, similarly, the approach of Marielle Cazaux, the general manager of La Conseillante. ‘Climate change is a big question. We are thinking long term about rootstocks and grape variety.’

Referring to early-ripening Merlot’s vulnerability to climate change, Cazaux stressed the importance of preserving its classic wine profile. ‘We are adapting the rootstock to be more resilient against hydraulic stress and thinking about changing the clones a little bit.’

Olivier Gailly from Château Pavie said that his team had already begun experimenting with climate-resistant proportions of grape varietals at the turn of the century. The house replanted its vineyards with an increased quantity of later-ripening Cabernet Sauvignon and similarly-behaving Cabernet Franc to blend with Merlot. This proportion has helped to maintain wine freshness as temperatures rise. 

Adaptive vineyard management: Château Cheval Blanc, Château Angelus, and Château Calon Segur

Traditional vineyard management techniques such as dense canopy cultivation, durable old vine revival, and biodiversity practices that support the mitigation of climate change have been intensified around Bordeaux since at least the millennium. While some methods have a short time frame, Pierre-Oliver Clouet, winemaker and technical manager at Château Cheval Blanc, which famously voluntarily withdrew from the Saint-Émilion classification system in 2021, spoke about the need for a long-term view.

‘We should adapt today to preserve Cheval Blanc in 20 years,’ he told WineCap. ‘Global warming is going to be a problem because, with two or three more degrees, the wine quality is still going to be good enough, but the identity will not be the same.’

Clouet said the château implements cover crop techniques to protect the soil from high temperatures, enhance soil nutrients and resilience, and to conserve rainwater more efficiently. He has also planted trees to expand cooling shade for vines and is training plants that are heat- and disease-resistant.

Saint-Émilion peer Château Angelus, which also opted out of the appellation’s classification system in 2022, uses a device that assists with hydrating and cooling vines in a region with stringent irrigation rules. President and CEO Stéphanie de Boüard-Rivoal explained: ‘For hail, we have a device that is a balloon that auto launches. It’s blown with helium and contains salt crystals so when it’s swollen by a cloud, it spreads out the salt and allows the ice to melt. Instead of having hail, we have rain,’ she told WineCap.

Cooling heat-stressed plants was also a priority for Vincent Millet, general manager of Château Calon Ségur. He told WineCap how he and his team are refining a mechanism to conserve cooling dampness in vineyard plots: ‘We are setting up specific enclosure systems which can trap and return humidity to the plant.’

Research and experimentation: Château La Dominique

While age-old vineyard methods are adapted to counter the perils of global warming, innovation is a key part of Château La Dominique’s philosophy.

General manager, Gwendoline Lucas, detailed the producer’s efforts in this area. ‘We are very concerned about climate change, so we started working with Bordeaux Sciences Agro years ago to do some research about how we can better manage our vineyard,’ she told WineCap. ‘We are also part of VitiREV, which is the first European fund specialising in viticultural ecological transition. We are like a laboratory testing new solutions from startups. We see a lot of proposals and when we think that something is quite interesting, we try it in our vineyard.’

Beneficial natural environment: Château Pavie, Château Canon, Cos d’Estournel, and Château Margaux

While acknowledging the potential hazards of climate change, several producers told WineCap that they had, to date, avoided any serious consequences of rising temperatures across Bordeaux by dint of resilient terroir. Whether location or soil composition, nature provides a mitigating influence to the heat, ensuring balance and traditional character in yield and wines.

‘We are fortunate to have this exceptional limestone terroir which really keeps a lot of freshness in the wine,’ said Olivier Gailly, commercial director of Saint-Émilion house Château Pavie. ‘Then we have the forests around the château which are very important to keep a bit cooler.’

Soil make-up was also cited by Nicolas Audebert, winemaker and general manager at fellow Saint-Émilion house, Château Canon. Referring to climate change, he said: ‘We see it in berry ripeness every day, but we still have a long way to go before we get into trouble because we are on a fantastic, limestone terroir.’

The water-retaining freshness of limestone guarantees that vines do not suffer severe heat stress, Audebert added, also noting the benefits of micro-practices.

‘There are a lot of fantastic wine producing regions in the world where the climate is warmer than here and they manage,’ he said. ‘I spent ten years in Argentina making wine so I have some experience of how we can evolve our viticulture to protect it. There are thousands of small things we can adapt to keep that elegant, vibrant, precise, style we like.’

Vineyard coolness was also cited by Charles Thomas, commercial director at Cos d’Estournel. ‘We are lucky enough to be in the north part of the Médoc where we have the Gironde River providing freshness to the vineyard.’

Not all Bordeaux producers regard climate change unfavourably and are optimistic that, with a responsive approach, the trials of the decades ahead will be overcome.

‘I think we are just at the beginning,’ Philippe Bascaules of Château Margaux told WineCap. ‘For the last ten years, summer drought and heat have helped us to make even better wine. But, of course, we know that if the temperatures continue to increase, we will be in big trouble because it will not only change the quantity of wine but also the style of the wine we want to produce.’

To this end, the chateau continues to be attentive and flexible in the face of global warming. ‘At least for the next 50 years, I’m quite optimistic that we will find the parameters and the techniques to continue to produce the wine of Château Margaux as it exists today,’ he said. ‘I don’t know about after that because who knows what the temperature will be in Bordeaux in 50 years?’

See also our Bordeaux I Regional Report. 

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Climate change in Bordeaux: are new varieties the answer?

Heat resistant grape varieties

WineCap spoke with leading Bordeaux estates on the much-discussed possibility of introducing new, heat-resistant grape varietals to this leading wine region to mitigate the impact of global warming.

    • Adaptive viticulture and winemaking were the prevalent answers to coping with climate change.
    • The minority considered old resilient Bordeaux varietals and new grapes.
    • Heritage and current appellation laws are significant.

 Adaptive winemaking: Château Pichon-Baron

Christian Seely, managing director of AXA Millésimes, owner of Château Pichon-Baron was firm that the response to climate change was not the introduction of new cultivars but rather adaptive winemaking.

‘Here at Pichon, 25 years ago, the blend tended to be around 65% Cabernet Sauvignon, 35% Merlot. These days, it’s 80% or more Cabernet Sauvignon and 20% Merlot,’ he told WineCap. ‘It’s not an answer to climate change, but it’s how we’re adapting because we are having more hot, sunny years which enable us to get the Cabernets magnificently ripe. In the old days, when we hadn’t got the Cabernets perfectly ripe, a nice bit of ripe Merlot was a useful element in the blend. It’s still a useful element, but we need less of it.’

This approach also softens the grape alcohol content that has steadily risen along with warmer growing seasons. ‘Merlot grapes here will probably have one degree more of alcohol than Cabernet. If you want to keep your wines under 14% abv, which we do at Pichon, one way of doing that is to increase the proportion of Cabernet Sauvignon.’

Traditional vineyard management and quality over trend: Château Canon-la-Gaffelière and Château Calon Segur

Stéphane von Neipperg, proprietor of Château Canon-la-Gaffelière, was uncompromising on his views about new varieties, preferring skilled, traditional viticulture instead.

‘Increasingly, some technical people are speaking about new varieties for wines. I’m just against it,’ he told WineCap. ‘They’re not proving that the quality is outstanding. They only prove that they don’t need to spray against mildew.’

Von Neipperg stressed the château’s effective practice of copper spraying which complements the composition of its vineyard soils and its cultivation of old vines that display hardiness to warmer summers.

‘We are well known for old vines. We have our own genetics and I think this is much more important than these new varieties.’

Vincent Millet, general manager of Château Calon Ségur has a similar approach to dealing with rising temperatures: massal selection and a decades-long vineyard restructuring plan to be completed in 2035.

‘We recovered old Merlot vines from 1940, Petit Verdot from the 1930s, and Cabernet Franc from the 1970s. We have created our own collection,’ he told WineCap. ‘This collection allows us to preserve a genetic heritage…which allows us to try to resist the increases in temperature.’

Under this climate change-defying scheme, rather than planting new cultivars, the château plans to plant more Cabernet Sauvignon and adjust the quantities of the other traditional Bordeaux varietals.

Potential of resilient Bordeaux varieties: Château Saint Pierre and Château Beychevelle

For co-owner of Château Saint Pierre, Jean Triaud, there is the possibility of regional heat-tolerant grape varieties thriving in warmer climates, making a comeback. He cited Malbec, a varietal that originated and still grows in southwest France and now flourishes in Argentina and Carménère, formerly planted widely in the Médoc and now the flagship black grape of Chile.

‘Those great varieties come from Bordeaux, but finally work much better in other places thanks to the weather. Why not come back?’

However, referring to appellation laws, he acknowledged that the situation was complex. ‘But it’s not so easy because here we don’t decide all the rules,’ he added.

While acknowledging the strict limitations of the appellation system, Philippe Blanc of Château Beychevelle had a similar perspective.

‘The most sensible thing would be to take varieties coming from the south, mainly Spain and Portugal, and see how they adapt here,’ he told WineCap. ‘It’s always this way. You go north and plant Pinot Noir in Sweden or Brittany or Chardonnay in Kent. Maybe it’s good to invest in Brittany or Normandy to make new vineyards in the future.’

Restrictive appellation laws: Château Beychevelle

General manager of Château Beychevelle, Philippe Blanc, is open to the possibility of introducing new heat-resistant grape varieties but recognises that the French appellation system is slow to react and evolve.

‘It takes a lot of time to reach an agreement. If I decide to plant Shiraz, I can make Vin de France, but I can’t make Saint-Julien. So, in terms of value, it’s difficult to do,’ he said. ‘I’ve got no new varieties but, we’ll keep an eye on this and as soon as we’re allowed to plant new grapes, even 2% or 3%, we’ll do it.’

Value of regional heritage and legacy: Château Margaux and Château Troplong Montot

Philippe Bascaules, managing director of Château Margaux said that the estate has the possibility of cultivar changes in mind and a designated block of vineyard for experimentation with new varietals. However, he told WineCap, ‘it’s not decided’.

‘Cabernet Sauvignon is the core of the blend of Château Margaux. The decision to change that is a big one. I’m not considering doing it in the next 50 years.’

Commercial director of Château Troplong Montot, Ferréol du Fou, was more direct about the option to use heat-resistant grapes as a buffer against climate change.

‘Burgundy has Pinot Noir. Bordeaux has Merlot, Cabernet Franc, Cabernet Sauvignon, and Petit Verdot. The solution is to work more in the vineyard, it’s not planting Tempranillo. It’s a plaster, it’s a bandage. We have to think about the next generation,’ he told WineCap. ‘Making Tempranillo in Bordeaux is stupid. I’m a bit harsh, but this is the truth for me.’

See also our Bordeaux I Regional Report. 

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by investing in wine. Speak to one of our wine investment experts and start building your portfolio. Schedule your free consultation today.

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What makes a great vintage?

Chateau Angelus vineyard
  • Grape quality and winemaking are central to vintage calibre.
  • The importance of the vintage varies according to the region.
  • An ‘average’ vintage can also increase in value.

‘A year of extremes’, ‘good yields’, ‘a cool start and wet finish’, ‘poor’, ‘outstanding’. These are typical phrases that describe the character of a particular vintage – but how do they, ultimately, translate into quality? Anyone interested in wine investment needs to be aware of the vintage impact on price and performance.

This article explores the factors that shape a ‘great vintage’ – from vineyard conditions to winemaking methods. Key figures at Bordeaux estates also weigh in with their comments on their preferred vintages from their châteaux. 

What does vintage mean?

The vintage indicates the year grapes were harvested. The wine made from such fruit reflects the weather conditions that the vine growth cycle experienced. Features like terroir and winemaking methods also impact the quality and character of a wine. However, winemakers often comment that wine is made in the vineyard meaning that the condition of the fruit is the dominant factor in a wine’s profile, cellar-worthiness and, ultimately, value. 

Is vintage always important?

The vintage year is of vital importance in some regions but of little significance in others. This depends on the local climate. 

If a climate features variable weather conditions each season, the resulting wine will display different traits every year. For example, in one particular year, grapes could contain higher or lower acidity than in previous vintages, more or less fruit concentration, or different sugar levels. Such factors affect the quality and identity of the wine, its age-worthiness, its valuation and the potential for this valuation to grow.

Regions where weather conditions are inconsistent year-on-year include Bordeaux, Burgundy, Champagne, the Rhône Valley, Napa Valley, Tuscany, and parts of Australia. This is why vintages from these areas frequently feature in discussion on drinkability, ageing potential and wine investment opportunities.

In places where climate and weather are more stable and wine character more uniform, vintage is, generally, less important. Such wine-producing countries and regions include Argentina, Chile, Spain, parts of California and New Zealand.

What factors influence a vintage’s quality?

The natural factors that contribute to the quality of a particular vintage include optimal weather conditions. Throughout the growth cycle of the vine, a balance of adequate rainfall, warm and dry conditions during the growing season, and cool nights aid the development of quality fruit. This means that the harvested berries contain an ideal balance of acidity, sugars, and tannic potential for the style of wine being made. Extremes like frost, hail, heatwaves and heavy rain can negatively impact the delicate equilibrium of these features, influencing the calibre of the wine. 

On the occasions when all environmental conditions line up harmoniously, the result is exceptional fruit and what is often referred to as a ‘legendary’, ‘exceptional’ or ‘outstanding’ vintage. Such years are rare and, therefore, memorable with resulting wines much sought after. 

The human influence on vintage quality encompasses a wide spectrum of vineyard practices that are utilised whenever necessary to mitigate unfavourable weather. Skilled vineyard management includes:

  1. Protection against frost with vineyard heating strategies.
  2. Organic and/ or biodynamic practices that can affect wine quality and potential.
  3. Disease pressure tackling to help prevent damaging vine ailments like rot or mildew.
  4. Hydric stress or excess rainfall management implemented at key stages to ensure balanced grape flavour concentration.
  5. Canopy management and foliage thinning to enhance grape quality.
  6. Timely harvest for optimal flavour and ripeness balance.

These vineyard approaches are the outcome of years, decades and even centuries of vinicultural experience and constitute part of the heritage of each wine region, adding to a vintage’s esteem and worth. Winemaking expertise similarly contributes to enhancing the value of a vintage.

Can vintage value evolve?

In wine investment, the value of a vintage is not necessarily fixed. While great vintages tend to enjoy ongoing value growth, other years can also display value development potential.

In short, while vintage is an anchor for a wine’s value in regions where it is a factor, it does not bear the sole influence on valuation. Other important determinants include:

  • Provenance
  • Age-worthiness
  • Producer/ winemaker/ brand reputation
  • Critic scores
  • Storage conditions 
  • Scarcity
  • Market trends

The Bordeaux perspective

WineCap asked Bordeaux winemakers which of their own vintages they would purchase and why. The replies illustrated some of the elements that make a great vintage.

Stéphanie de Boüard-Rivoal, co-owner and CEO of Château Angelus spoke of cellaring potential. ‘I would get a 2016,’ she said. ‘It is an incredible vintage, particularly for its depth, its complexity, and 100 years plus aging potential’.

Nicolas Audebert, winemaker and General Manager of Second Growth Château Rauzan-Ségla in Margaux mentioned how a vintage with a small crop led to an unexpectedly notable wine. ‘The concentration, the roundness, juiciness and intensity of the fruit in the 2018 is fantastic. It is a little bit outside of the classic, elegant style of Rauzan and Margaux, but so interesting in the reflection of the climate we had that year’.

Aline Baly, co-owner of Château Coutet, in the Barsac appellation highlighted excellent conditions and vineyard management for her choice: ‘The 2009 vintage is a combination of exceptional weather and exceptional work in the vineyard’.

For General Manager of Saint-Émilion Grand Cru Classé, Château La Dominique, Gwendoline Lucas, provenance and reputation were key to her vintage selection. ‘That would be 2019, because it’s the first vintage we created with Yann Monties, the technical director and also it is the 50th vintage for the Fayat family because they bought the château in 1969. So it is a very good vintage in terms of quality, but also full of history’.

Rarity and value-for-money drove the choice for Stéphane von Neipperg, owner of Château La Mondotte, a Premier Grand Cru Classé house in Saint Emilion. ‘It is very difficult to find 2009 of La Mondotte, but a very outstanding vintage if you want to invest in it in the future. Also, it is not so expensive’. 

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by investing in wine. Speak to one of our wine investment experts and start building your portfolio. Schedule your free consultation today.

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Bordeaux winemakers reveal their top vintages for investment

Pontet-Canet vineyard, Bordeaux

WineCap has spoken with key figures from leading Bordeaux estates on their wine investment preferences. They share their thoughts about where they would invest €10,000 today.

  • Vintage quality is cited as the main driver of choice.
  • There is a variety of investment-worthy vintages across the region.
  • All interviewees chose vintages younger than 2015. 

Château Clinet, Pomerol – 2020 vintage

‘If I had €10,000 to spend on a vintage of Château Clinet for collecting, that would probably be the 2020 vintage’, said Ronan Laborde, Managing Director and owner of the house. ‘The 2020 vintage is a wine with a lot of qualities. It is very smooth, highly complex and has lot of vibrating intensity.’ 

Laborde said that, in terms of recent vintages, it was probably the one he was most proud of and recognised that 2020 had been highly supported by great weather conditions – plus ‘sometimes you have luck on your side’. ‘When I taste the wine now, I say, wow, it is the one I would like to invest for collection,’ he told WineCap.

The 2020 vintage was an illustration of how optimal weather conditions throughout the growing season and harvesting support excellent wine quality. The wine received 94 points from Neal Martin and 95 points from Antonio Galloni (Vinous), who called it ‘hugely impressive, as it was from barrel’. Jeb Dunnuck awarded it 98 points, naming it ‘one of the finest Pomerols in the vintage’. The wine has fallen 13.5% in value since release. On a brand level, Clinet has enjoyed a 47% increase in the last decade. 

Château Pontet-Canet, Pauillac – vintage diversity

Justin Tesseron, co-owner of Château Pontet-Canet had a more philosophical approach, emphasising ‘vertical’ cellaring for variety and value growth potential. ‘I would buy wine for every occasion…wine to drink now…wine to keep. I would buy wine for the future generations,’ he told WineCap.

‘But I think what is good in wine is to have one vintage for every kind of occasion. So, I would not spend €10,000 on one vintage. I would buy maybe the last ten vintages or similar.’

The majority of the last decade of Bordeaux vintages fell into ‘excellent’ and ‘legendary’ categories with 2015, 2016 and 2018 in Pauillac particularly notable years. When it comes to value and growth potential, the 2014, 2017 and 2020 vintages stand out. Prices for Pontet-Canet are up 11% in the last five years, and 28% over the last decade.

Château Troplong Mondot, Saint-Émilion – 2015 & 2019 vintages

For Ferréol du Fou, Commercial Director and Sales Manager of the château, dividing such a sum between collectible and ready-to-drink wines and among several vintages would be the best approach. 

‘If you have to invest, then invest in 2015,’ he said. ‘It still has a very good price and it will increase in the future, I’m sure. It is a huge vintage’. 

At the ten-year mark, critics have started to re-taste the 2015 vintage. The 2015 Troplong-Mondot currently sits 6.8% below its release price. For Antonio Galloni, it was ‘one of the stars of the vintage’ and ‘a viscerally exciting, resonant wine’. When writing for the Wine Advocate, Lisa Perrotti-Brown MW gave it 96-points and said: ‘This pedal-to-the-metal beauty is the ultimate indulgence for the hedonists!’

Ferréol du Fou also advised buying the 2019 vintage for investment, released during Covid: ‘It is first of all an amazing vintage. Plus it is one of the cheapest vintage from Bordeaux and Troplong Mondot’. ‘So this is the one you have to invest as soon as possible to make sure to have first few bottles in your cellar and to feel that you have landed a good deal,’ said Fou. 

The wine is currently available 15.0% below its release price and remains one of the most undervalued Troplong-Mondot vintages in the market today. On average, prices for the brand have risen 49% in the last decade.

Château Pichon Comtesse, Pauillac – 2019 vintage

Nicolas Glumineau, CEO and winemaker at Château Pichon Comtesse did not hesitate in his selection of an investment-friendly vintage. ‘I would have the 2019 Pichon Comtesse,’ he said.

Pichon Comtesse 2019 was one of only two wines during the En Primeur campaign to receive a potential perfect score from Vinous’s Neal Martin (98-100). The critic claimed that ‘you are not looking at a modern day 1982 or 2016, but something even better and more profound’. Upon tasting in bottle, Martin gave it 99 points, calling it ‘stunning’ and noting that ‘the nose reminds [him] of Latour’. Galloni was also full of praise: ‘One of the most elegant Pichon-Longueville Comtesse de Lalande I can remember tasting’. 

The vintage also presents great investment value. It is one of the best priced vintages, along with the lower-scoring 2014 and 2017. 

Château Lafon-Rochet, Saint-Estèphe – 2020 vintage

With €10,000, Basile Tesseron, General Manager of Lafon-Rochet, would invest in a relatively recent vintage. ‘I would buy 2020 for keeping,’ he told WineCap.

The wine received 96 points from Antonio Galloni, who called it ‘superb’ and ‘one of the classiest, more refined Saint-Estèphes’. Neal Martin (93 points) also agreed that it was ‘excellent’.

The 2020 vintage has fallen in value since release and sits below the brand’s average price. Our Lafon-Rochet index is up 57% in the last decade.

Cos d’Estournel, Saint-Estèphe – 2016, 2018 & 2020 vintages

Charles Thomas, Commercial Director of Cos d’Estournel admitted that he did not see wine as an asset class but rather a product to be enjoyed with friends. ‘But if I had to, obviously I would take 2016, 2018 and 2020’.

Of these three vintages, only the 2016 is currently more expensive than at release, up 10.5%. The wine boasts three 100-point scores from Neal Martin, James Suckling and Lisa Perrotti-Brown MW. Meanwhile, the 2020 Cos d’Estournel is currently down 34.4% since release, and the 2018 – 43.8%. 

The brand’s value has risen 39% in the last decade. 

See also our Bordeaux I Regional Report. 

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by investing in wine. Speak to one of our wine investment experts and start building your portfolio. Schedule your free consultation today.

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Understanding Burgundy’s quality and ownership divisions

Burgundy wine region

Following on from our guide on Burgundy’s sub-regions, we turn our focus to the region’s quality and ownership divisions, which are equally integral to understanding what makes Burgundy’s wines so exceptional.

Quality divisions

Grand Cru
At the pinnacle of Burgundy’s wine hierarchy are the 33 Grand Crus, which represent around 2% of total production. These wines are the epitome of excellence, with yields restricted to a maximum of 35 hectolitres per hectare (hl/ha) and often far lower. Revered for their age-worthiness, these wines generally require five to seven years to begin showing their potential, with many capable of aging for decades. Grand Cru wines are among the most prestigious and collectible in the world.

Premier Cru
Premier Cru wines, comprising 12% of Burgundy’s production, are crafted from 640 officially recognized superior vineyard sites. With permitted yields of up to 45 hl/ha, these wines showcase the terroir’s expressive character. They typically require three to five years of aging but can develop even greater complexity with extended cellaring. These wines are highly regarded by connoisseurs for their balance of quality and accessibility.

Village Wines
Village wines account for 36% of Burgundy’s production and are produced under 44 communal appellations. These wines can be blends from various vineyards within a village or from single, unclassified plots. With a yield allowance of 50 hl/ha, Village wines offer excellent value for money and are known for their approachable nature. While they are often enjoyed young, many can be aged for two to four years or more, depending on their origin and vintage.

Regional Appellations
Regional appellations, collectively known as Vin de Bourgogne, make up nearly half of Burgundy’s total production. With yields of up to 70 hl/ha for reds and 75 hl/ha for whites, these wines are ideal for everyday enjoyment. While they lack the investment potential of higher classifications, they offer an accessible introduction to the region’s styles and are valued for their straightforward appeal.

Ownership Divisions

Monopoles
Monopoles are vineyards with a single owner, a rarity in Burgundy where fragmented ownership is the norm. There are fewer than 50 monopoles in the entire region, and many are associated with some of the most iconic wines. Examples include Domaine de la Romanée-Conti’s Romanée-Conti, Domaine du Comte Liger-Belair’s La Romanée, and Domaine du Clos de Tart’s Clos de Tart. These monopoles exist across Grand Cru, Premier Cru, and Village levels, and their exclusivity adds to their allure.

Domaine Wines
A domaine refers to an estate that grows its own grapes and produces its wine in-house. This approach allows the producer complete control over viticulture and winemaking, ensuring consistency and quality. Domaine wines are highly esteemed for their reflection of the estate’s unique terroir and meticulous craftsmanship. These wines are considered benchmarks of Burgundy’s artisanal winemaking tradition.

Négoce Wines
A négociant is a merchant who sources grapes, juice, or finished wine from growers and produces wine under their own label. While some perceive négociant wines as inferior, many are of exceptional quality due to the long-standing relationships between négociants and growers. This collaborative model enables access to fruit from top-tier vineyards, allowing skilled winemakers to craft extraordinary wines. Prestigious négoce producers, such as Maison Leroy, often rival their domaine counterparts in quality and acclaim.

Looking for more? Read our Burgundy Regional Report, which delves into the fundamentals of this fascinating region and the development of its investment market.