Bordeaux 2009 and 2010: Where are the price gaps?
Bordeaux 2009 and 2010 are the two back-to-back vintages which are considered amongst the best of this century. Recently, Liv-ex explored the price gap between Montrose 2009 and 2010. While both have 100 points from Robert Parker and come from these two comparably acclaimed years, the 2010 has a market price that is 12.3% lower than the 2009: a gap that looks a little odd – though advantageous for those who share Parker’s taste.
To find out how prices for 2009 and 2010 compare for other Chateaux, we have looked at instances where top-rated wines have identical scores for both vintages according to The Wine Advocate. Their prices are shown in the table below. While over half of these have market prices that fall within 5% of each other, suggesting efficient market pricing, several show significant gaps.
In five instances, the 2010 vintage is available at more than a 5% discount to its identically scored older sibling. The greatest discount is for the “big, back-strapping blockbuster” (Parker), Gazin 2010. The two 99+ point Angelus vintages are also showing a gap in spite of both being “candidates that will flirt with perfection, depending on the state of their evolution”, according to Parker.
Five 2009s are also cheaper than their younger counterparts. The two 98+ point Ausones show the greatest gap in the table, with the 2010 priced 25% higher than the 2009 “masterpiece in the making”.