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Mixed signals: correction continues but top wines prove the exception

  • Despite a broader market correction, some fine wines have risen over 10% year-to-date. 
  • The top-performers are united by their strong value proposition. 
  • The 2024 En Primeur is all about momentum and timing, given the mixed quality and the availability of well-priced older vintages.

Despite a broader market correction – with the Liv-ex 1000 index declining 2.1% year-to-date – select fine wines have demonstrated remarkable resilience. A closer look at Q1’s top performers reveals a diverse spread across key wine regions: Bordeaux, Piedmont, the Rhône, and Burgundy.

The best performing wines

The best performing wine was Vieux Telegraphe La Crau Rouge 2021, which surged 22.7%. The long-term trajectory of the brand has been upwards, with a 54% rise in value over the past decade.

The second spot was taken up by Pichon Baron 2013 with a 22.6% rise. Often overlooked due to the vintage’s cooler weather, it now stands out for its relative value and strong long-term potential. Over the past ten years, the brand’s prices have climbed by 58% on average.

From the Northern Rhône, Guigal’s La Landonne secured two spots on the leaderboard: the 2012 vintage rose 11.1%, while the 2014 – 10.6%. Across the past decade, the La La wines have appreciated by 47%, affirming their iconic status among Rhône collectors.

From Barolo, the 2001 Bruno Giacosa Serralunga d’Alba made the top ten with a 21.2% rise, showcasing continued demand for aged, cellar-ready Nebbiolo from one of Piedmont’s most revered producers.

Regional trends: pressure persists

While these individual wines bucked the trend, broader regional indices tell a more sobering story. Both Burgundy and Bordeaux, the primary pillars of the fine wine market, fell by 2.9% in Q1. Even regions that showed resilience – such as the Rhône, which rose 1.1% in March – remain down overall for the quarter.

This pattern underscores the current investor mindset: cautious, value-driven, and increasingly selective.

2024 En Primeur: momentum and timing

The 2024 Bordeaux En Primeur campaign has landed in challenging terrain. With the market in retreat and the specter of new U.S. tariffs, producers have had no choice but to re-evaluate pricing strategies. The first releases came in below last year’s prices, and before critic scores were published.

While these adjustments reflect an awareness of the macroeconomic environment, price cuts alone don’t guarantee demand. Investors are weighing these new offers against older vintages available at comparable – or better – value.

The swift pace and early start of this year’s campaign echo the successful 2019 En Primeur release, which capitalised on momentum and timing. However, given the mixed vintage quality and volatile market, strategic selectivity is more essential than ever.

Looking for more? Read our Q1 2025 Fine Wine Report.

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Wine Advocate’s top-scoring Bordeaux 2024 wines

  • William Kelley defines Bordeaux 2024 as the ‘weakest vintage of the last decade’.
  • The vintage is characterised by challenges – weather and economic. 
  • Kelley’s top three wines achieved a barrel range of 94-96 points.

The Wine Advocate was among the first to release their Bordeaux 2024 En Primeur report last week, with William Kelley calling it the ‘weakest vintage of the last decade’. The report, titled ‘Ripeness is all’, highlights the challenging weather conditions and the growers ability to time the harvest, which played a crucial role in the making of the best wines. 

The style of the vintage

For Kelley, 2024 is not a Left or a Right Bank vintage; he argued that it ‘can only be understood on a producer basis’. 

For him, it is ‘more of a throwback, exhibiting flavors more familiar from the decade of the 1990s than more recent years’. The best wines show ‘the estate signature’ style and possess a ‘strong identity’. 

Kelley explained that ‘the most compelling 2024s are intensely flavored middleweights with good structure and energy, exhibiting integrated acidity and ripe tannin’.

‘A handful of wines, often thanks to a riskily late harvest and generally from early-ripening sites, even possess a density and mid-palate amplitude that transcends the year and which will render them hard to identify in blind tastings a decade from now’, he continued.

To achieve these results, terroir was crucial: ‘better-drained, earlier-ripening plots fared best’ in a year defined by cold and rain. Sorting was important too but only for fully ripe grapes.

Vintage challenges

Bordeaux 2024 will go down in history as a challenging vintage – first, due to the weather, and second, the macroeconomic context, including the waning sentiment towards the En Primeur system.

When it comes to the weather, it was a year of negative records. Kelley noted that ‘March-May saw 35% more rainfall than the 20-year average, making 2024 the third wettest spring recorded, after 1979 and 2008’. This delayed flowering, leading to uneven ripeness within bunches, which could have only been mitigated by patience. 

Rain and falling temperatures in September presented more obstacles – botrytis, and slower degradation of acidities and pyrazines. Many producers were quick to harvest – often underripe grapes; those that dared to wait gained ‘mid-palate amplitude and degrading pyrazines in the process, even if analytical maturity alone registered little change’.  

Now that the vintage is being released onto a downward market, Bordeaux is facing mounting pressure. In his report, Kelley wrote: ‘An excellent vintage at a very fair price might perhaps have been capable of reigniting some interest in en primeur, but it seems unlikely that 2024, beyond a handful of châteaux, will be able to achieve that.’

He concluded that ‘if Bordeaux rides high in good times, it is unavoidable that the region should also experience market lows particularly acutely. Bordeaux will be back, of course, it’s only a matter of time.’

Selectivity is key

Given this vintage background, strict selectivity when purchasing Bordeaux 2024 will be key. Beyond pricing, which has to be fair in the context of older vintages, critic scores play an important role. 

Kelley’s highest score for this vintage was a barrel range of 94-96 points, which went to three wines: Cheval Blanc, La Conseillante and Pontet-Canet (released on 23 April).

Of the three, La Conseillante has been the best price performer on a brand level, rising over 70% in value over the past decade, and considerably outperforming the broader Bordeaux market. 

For Kelley, these three wines were the ‘stars of the vintage’. For Cheval Blanc, he explained that ‘Pierre-Olivier Clouet and his team conducted an aggressive green harvest and also, exceptionally, used densimetric sorting to mitigate heterogenous maturity between and within bunches, accepting losses to rot in pursuit of full maturity.’ 

Sorting was also strict at Conseillante, which is ‘a blend of 80% Merlot and 20% Cabernet Franc that produced 22 hectoliters per hectare after extensive sorting’.

When it comes to Pontet-Canet, Kelley said that the final wine ‘underlines the fact that daring to harvest late paid dividends in this challenging vintage, wafting from the glass with aromas of cassis, black raspberries and plums mingled with accents of rose petals, licorice and exotic spices.’

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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James Suckling’s top wines of 2024

  • American critic James Suckling has released his top 100 wines of 2024 list.
  • His wine of the year is Bertani Amarone della Valpolicella Classico 2015. 
  • Italy dominates the rankings followed by France and the US.

American critic James Suckling has released his top 100 wines of 2024 list, along with his wine of the year. Each year his team tastes tens of thousands of bottles, releasing comprehensive tasting reports, regional rankings, and ultimately selecting their wine of the year.

For 2024, the top honour went to Bertani Amarone della Valpolicella Classico 2015 – a wine Suckling describes as a perfect expression of “the greatness of time and place.” It received a perfect scoring of 100 points.

This article summarises the key findings from the James Suckling Top 100 and highlights notable regional trends, emerging regions, and value-driven opportunities for collectors.

A record year of tasting: More than 40,000 wines reviewed

James Suckling’s methodology is built on scale. In the past year alone, Suckling and his tasters reviewed more than 40,000 wines, producing hundreds of tasting reports, vintage overviews, and regional analyses. These include everything from everyday wines priced below $20 to rare cuvées from the world’s most prestigious estates.

What makes the James Suckling Top 100 uniquely valuable is that it distills this enormous volume of data into a curated list shaped not only by quality, but also by value, emotional impact, and availability. To be considered, wines must meet key criteria:

  • Minimum production of 5,000 bottles

  • Median release price below $500 (£385)

  • A score typically ranging from 97–100 points

  • A “wow factor” — Suckling’s term for the emotional reaction a wine can provoke

This creates a final list that balances prestige with approachability.

Regional overview: Italy dominates the top spots

While Suckling’s tastings spanned traditional and emerging regions worldwide, Italy once again emerged as the strongest performer. Italian producers submitted more than 9,100 wines for review, slightly surpassing France’s 9,000, and coming ahead of the 6,800 bottles tasted from the United States.

Total wines reviewed in 2024

The countries with the largest representation included:

  • Italy – 9,100 wines

  • France – 9,000 wines

  • United States – 6,800 wines

  • Spain – 3,800 wines

  • Argentina – 2,300 wines

  • Germany – 2,000 wines

  • Australia – 1,700 wines

  • Chile – 1,550 wines

Additional tastings from countries such as Greece, Hungary, Canada, Uruguay, and China

Countries featured in the James Suckling Top 100

Despite fierce global competition, Italy secured 26 positions in the top 100. These included a mix of Amarone, Barolo, Alto Adige whites, Brunello, and Super Tuscan wines. France followed with 18, showcasing a strong lineup of Bordeaux, Champagne, and Rhône releases.

The United States delivered 15 wines to the list, highlighting the continuing excellence of producers in Napa Valley and Oregon. Germany contributed 12 wines, a remarkable showing that underscores its rising profile among critics and consumers alike.

Chile, Australia, Argentina, and Spain all delivered respectable performances, and notably, China secured one place with Ao Yun Shangri-La 2020 – evidence of China’s growing relevance in the fine wine market.

James Suckling’s Wine of the Year: Bertani Amarone della Valpolicella Classico 2015

At the top of the ranking stands Bertani’s Amarone della Valpolicella Classico 2015, a wine that Suckling calls “one of the great Amarones.” Awarded a perfect 100-point score, it showcases deep concentration, complexity, and finesse.

Suckling describes the wine as “full-bodied and elegant, with ripe, filigree tannins, long acidity, and a toasty, savory aftertaste.” Its combination of structure, balance, and aromatic depth makes it a quintessential example of Amarone’s potential when produced in a traditional, long-ageing style.

The selection of an Amarone as the wine of the year reinforces a broader trend: the rising international appreciation for Italy’s great red wines beyond the usual Barolo and Brunello icons.

James Suckling top wine scores 2024

Value and accessibility: A core theme of the 2024 rankings

Despite the prestige associated with many wines on the list, a significant number of selections in the James Suckling Top 100 fall into surprisingly approachable price brackets. According to Suckling:

  • Nine wines in the Top 100 are priced between $30 and $60

  • Many top-performing whites, including Italian Sauvignon Blancs and Austrian Rieslings, remain accessible

  • Even the second-ranked wine is priced around $65 (£50)

This emphasis on accessibility reflects Suckling’s commitment to highlighting wines that deliver outstanding value, especially at a time when the global wine market is facing both economic pressure and shifting consumer behaviour.

Notable regional highlights

Germany’s breakthrough year

Germany’s outstanding performance – with 12 wines in the Top 100 – confirms the exceptional quality of recent vintages, particularly for dry Riesling. The Künstler Riesling Rheingau Hölle GG 2023 serves as the benchmark, showcasing precision, structure, and aromatic clarity.

Austria’s continued rise

Austria’s representation reflects its steady upward trajectory in global tastings. The wines selected – especially from Wachau – show impressive consistency and terroir expression.

China’s growing presence

The placement of Ao Yun Shangri-La 2020 demonstrates China’s expanding role in the fine wine space. Produced in the foothills of the Himalayas at high elevation, this wine emphasises craftsmanship, innovation, and a distinctive style uncommon in traditional European regions.

What collectors should take away from the 2024 Top 100

The James Suckling Top 100 is more than a “best of” list. It offers insight into:

  • Shifting stylistic preferences

  • Regions delivering strong value

  • Vintages worth buying now

  • Wines with long-term investment potential

  • Global developments beyond traditional wine regions

For collectors and investors, the list serves as a tool for building a diversified cellar, especially at a time when the fine wine market is recalibrating.

Whether your interest lies in high-scoring Amarone, precision-driven Riesling, or ambitious New World expressions, the 2024 rankings provide a highly curated list of wines that blend excitement, accessibility, and long-term promise.

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 2021 in bottle: Vinous’ top-scoring wines

  • Neal Martin said Bordeaux 2021 shouldn’t be dismissed and identified an ‘overachiever’ among the wines in this challenging vintage.
  • According to Antonio Galloni, the quality is higher on the Left Bank than on the Right Bank.
  • A dry white wine and a Sauternes were the critics’ top-scoring wines from the vintage.

Vinous recently published two separate Bordeaux 2021 in-bottle reports by Neal Martin and Antonio Galloni. In this article, we summarise their views on this polarising vintage.

Why Bordeaux 2021 should not be ignored

In his report, titled ‘2+2=5: Bordeaux 2021 In Bottle’, Neal Martin explained why ‘irrationality tastes good’ and why Bordeaux 2021 shouldn’t be ignored. He said that ‘on paper, a cursory glance at the troubled growing season would make any rational person dismiss its wines’. But the critic argued that they would be wrong.

While Martin awarded few wines more than 95 points, he advised readers against ‘thinking that the 2021 vintage is incapable of giving sensory and intellectual pleasure’.

According to him, advanced technology and refined winemaking made a fundamental difference at the top end, and thus 2021 cannot be compared ‘with off-vintages like 1977, 1992 or arguably even 2013’.

Martin singled out Les Carmes Haut-Brion as an ‘overachiever’ that ‘halts you in your tracks’ and noted that ‘there is a cluster of very strong-performing wines on the Left Bank that merit attention and possess the substance to repay cellaring’. He added that ‘the Right Bank matches the Left Bank, particularly the usual names on the Pomerol plateau […] and likewise those in Saint-Émilion on free-draining limestone soils’.

Similarly, Galloni found ‘a wide range of compelling wines that merit attention’ within the context of a challenging growing season.

‘In many ways, 2021 can be summarized as a year in which classic Bordeaux weather of the past meets the technical know-how of today in both the vineyard and winery,’ the critic argued.

Overall, he said, ‘the quality is higher and more consistent on the Left Bank over the Right Bank, even though at the very top, the best Right Bank wines can only be described as stellar’.

Galloni called Calon Ségur, Ducru-Beaucaillou, Lafite Rothschild, Pichon-Comtesse and Rauzan-Ségla ‘magnificent’, Les Carmes Haut-Brion – ‘majestic’, Vieux Château Certan, Cheval Blanc, Canon, and Lafleur – ‘compelling’. He also made a special mention of the dry white wines, namely Smith Haut Lafitte Blanc, Haut-Brion Blanc and Domaine de Chevalier Blanc.

Top-scoring Bordeaux 2021 wines

Neal Martin Bordeaux 2021 scores

Neal Martin’s top-scoring Bordeaux 2021 was a dry white wine, La Mission Haut-Brion Blanc, while Galloni gave a near-perfect score to a wine from Sauternes – Suduiraut.

Wines that appeared in both critics’ top ten included Les Carmes Haut-Brion, Vieux Château Certan, Lafleur, and Cheval Blanc.

For Galloni, Vieux Château Certan ‘may very well be the wine of the vintage from the Right Bank’, while Martin commented that it ‘transcends the limitations of the growing season’, calling it ‘outstanding’.

Another wine that critics agreed on was Lafleur, which Galloni described as ‘incredibly fascinating’ in 2021, and Neal Martin noted as a ‘strong contender for the wine of the vintage’.

Antonio Galloni Bordeaux 2021 scores

Full report and tasting notes are available on Vinous.

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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La Place 2023: Critics’ verdict and top-scoring wines

  • Major critics have released their ‘Beyond Bordeaux’ reports, accessing the quality and value of this year’s La Place releases.
  • Tom Parker MW stated that there were ‘not as many hits as usual’.
  • Jane Anson awarded three wines 100-points.

As the La Place de Bordeaux campaign takes centre stage in September, major critics have shared their views on this year’s releases, including Jane Anson (Inside Bordeaux) and Tom Parker MW (JancisRobinson.com).

Both have commented on the quality of the wines but also on their pricing strategies and the value to be found. As discussed last week, a recurring theme in the campaign has been the price increases for the new releases, compared to previous vintages. This has done little to invigorate the market for buying at release for investment.

Tom Parker on the campaign’s ‘ambitious pricing’

In his ‘beyond Bordeaux’ assessment, Tom Parker MW expressed his wary view on the campaign’s strategy and pricing. He wrote that ‘the styles and regions are diverse, and the stories risk being lost in such a compressed release timetable’.

He added that ‘given the ambitious pricing for many of these wines, it is hard to see how they can all be sold through successfully’. Indeed, the campaign’s reception so far has been mediocre.

In terms of overall quality, Parker stated that ‘there were some excellent efforts though perhaps not as many hits as usual’.

Regional observations

Delving into individual regions, Parker noted the Californian producers’ split strategy, with ‘some releasing wines from the complicated 2020 vintage, with others choosing instead to offer museum releases and a few choosing to do both’. One such instance was Opus One, which opted for library release of its 2018 and 2019 vintages.

In terms of the Rhône releases, he observed that ‘Hommage à Jacques Perrin was good rather than great, and newly added and renamed Domaine de la Chapelle (formerly Jaboulet’s Hermitage La Chapelle) left a little to be desired in the tricky 2021 vintage’.

For him, ‘Argentina produced two of the most exciting wines’. He awared 18 out of 20 points to Zuccardi’s Finca Canal Uco and 17+/20 for Adrianna Vineyard from Catena Zapata.

Parker also complimented Australian wines which were ‘technically immaculate’ and named Wynn’s John Riddoch ‘a personal favourite’.

His top Italian pick was Masseto (18/20), which he described as ‘almost a guilty pleasure in 2020’ though ‘only for those with the deepest pockets’. Although the wine was released at a 10% premium on last year, the new release still offered value in the context of back vintages.

Jane Anson awards three wines 100-points

Among the releases so far, Jane Anson awarded three wines 100 points – Bibi Graetz Colore 2021, Yjar 2019, and Giaconda Chardonnay 2021. The La Place newcomer Chappellet, Pritchard Hill Cabernet Sauvignon 2019 received a near-perfect score of 99-points from the critic.

Anson drew attention to Sicily as a region that offers both quality and value, saying that ‘Sicilian reds, as ever, offer some of the best value wines not just of the September Releases, but of the wine industry in general’.

She also acknowledged that ‘there’s no doubt that the wider economic stresses globally are both helping and hurting the September Releases’.

Once again, this highlights the importance of correct pricing in a broadening fine wine market.

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.