Bordeaux’s top châteaux cut prices for 2024 en primeur as economic uncertainty tempers demand

Bordeaux’s 2024 en primeur campaign has opened with significant price reductions from some of the region’s most prestigious châteaux, including Lafite Rothschild, Cheval Blanc, and Angélus. These estates have released their wines at prices not seen in over a decade, with cuts of around 30% compared to last year. The move comes after a challenging growing season in Bordeaux and amid ongoing economic uncertainty that continues to affect the global fine wine market.

Lafite Rothschild’s 2024 vintage was released at £1,713 per six-bottle case in bond, a price level not seen since 2008, according to UK-based merchant Farr Vintners. Château Cheval Blanc’s 2024 release came in at €276 per bottle ex-négociant, also marking its lowest price since 2008. Montrose 2024 entered the market at £1,014 for a case of twelve bottles, drawing attention from merchants who have praised the estate’s recent run of quality vintages.

Despite these attractive prices, initial demand has been mixed. Some merchants report steady sales for top names like Lafite Rothschild and Cheval Blanc, but there is little sign of the frenzied buying that has characterized previous campaigns. Matthew O’Connell, CEO of LiveTrade at Bordeaux Index, noted good demand for Lafite but described the pace as measured rather than exuberant. Will Hargrove of Corney & Barrow said that while Lafite sold well and there was interest in Cheval Blanc and Bélair-Monange, buyers are generally showing less urgency.

The subdued response is partly attributed to broader economic pressures and uncertainty in the fine wine market. Many consumers appear to be waiting for more releases before making purchasing decisions. The next two weeks are expected to see a flurry of new wines coming onto the market, which could influence buying patterns.

In the United States, tariff uncertainty is adding another layer of complexity. Shaun Bishop, CEO of California-based JJ Buckley Fine Wines, said his company is not running an en primeur campaign for Bordeaux this year due to unresolved tariff negotiations between the US and European Union. He advised clients to wait until there is clarity on tariffs before committing to purchases. So far, JJ Buckley has seen only limited demand for en primeur wines, mostly for Lafite Rothschild and Cheval Blanc.

Market experts like Miles Davis at Vinum Fine Wines acknowledge that this year’s campaign was always likely to be challenging given the economic backdrop and cautious mood among buyers. However, he points out that there are still opportunities for collectors and enthusiasts looking to add high-quality Bordeaux to their cellars at more accessible prices.

The Bordeaux 2024 en primeur campaign is unfolding earlier than usual this year. While price cuts have generated interest and made some top wines more affordable than they have been in years, both merchants and consumers are navigating a market shaped by economic headwinds and international trade uncertainties. The coming weeks will reveal whether lower prices are enough to spark broader enthusiasm among buyers or if caution will continue to define this year’s campaign.