Bordeaux 2023 market analysis: Château Margaux drops price by 30%

Château Margaux 2023 was released this morning (6 June), alongside the estate’s Pavillon Rouge and Pavillon Blanc labels, with Gruaud Larose and Calon Ségur also joining the day’s offerings.

Releases at a glance:

Château Margaux 2023: 98pts (Decanter) | €360 per bottle ex-négociant, down 30.2% versus 2022 | UK price £4,320 per 12x75cl in bond (IB)
Pavillon Rouge 2023: 93pts | €120 per bottle, down 20% | UK price £1,440 (12x75cl IB)
Pavillon Blanc 2023: 96pts | €240 per bottle, down 9.4% | UK price £2,880 (12x75cl IB)
Château Gruaud Larose 2023: 97pts | €60 per bottle, down 13.8% | UK price £716 (12x75cl IB)
Château Calon Ségur 2023: 96pts | €78 per bottle, down 23.5% | UK price £936 (12x75cl IB)*
Price data source: Liv-ex.

Château Margaux’s appearance means that all of the Left Bank first growths have now released their 2023 wines, except Château Latour, which no longer participates in en primeur.

It follows the launch of châteaux Canon, Rauzan-Ségla and Les Carmes Haut-Brion yesterday, Pavie, Pichon Baron and L’Eglise Clinet on Tuesday, and Pichon Comtesse and Palmer at the beginning of the week.

A trend for year-on-year discounts has continued, but analysts have also highlighted potential opportunities for buyers interested in back-vintages.