Bordeaux: Classification Systems Flashcards
Bordeaux : 1855
- Grand Cru Classe or Cru Classe
- based on prices then being achieved by the wines of Medoc (plus Ch, Haut-Brion in Graves )
- The wines are ranked in 1st to 5th growths, Sauternes to First and Second and Ch.d’Yquem its own class ( Premier Cru Superier)
- 60 leading properties or Chateaux from the Medoc and one from Graves- ranked in 5 tiers or Crus / Growths - 1-5 1st is premier cru, amd 5 th is cinquiemes crus
Bordeaux: The Graves Classification
- 1959 - based on pricing , fame , and quality judged by tasting
- 16 classified chateaux for red, white or both all located in the sub region of Pessac - Leognan
- Simple list with no sub-divisions for red or white
Bordeaux: The Saint-Emilion Grand-Cru Classification
Only applies to some wines that within the Saint - Emilion Grand Cru AOC
**Dates back to 1955 and is revised every ten years **
Chateauxs are judged on their terroir , methods of production, reputation and commercial considerations as well as blind tasting of ten vintages
Includes Premier Grand Cru and Grand Cru Classe.
Most recent revision in 2022
Bordeaux: The Crus Bourgeois du Medoc Classification
- Created in 1932, level below Cru Classe but still superior quality
- In 2010, it was revised so that awards go to individual wines not the Chateaux marked on quality and production methods / finished product
- Any property in the Medoc may apply.
- From 2018 on, chateaux will be classified as Cru Bourgeois, Cru Bourgeois Superieur and Cru Bourgeois Exceptionnel - this will last for 5 years
- Pomerol is the only top quality appellation. eg. Petrus is only know by reputation
- Generall the whole system has been challenged and many top estates have left argueing that Grand Cru should not be used in the SAint Emilion class system as its misleading
- The Graves class system is due for revision with too many high quality estates not included
Bordeaux: Production costs
- Bordeaux AOC - 0.57 Euros
- Medoc AOC - 2.35 euros
- Classified Growth - 16 euros per bottle
- increased vine density, harvest costs, viticulture, lower yields, rigorours grape selection and barrel ageing and new vs. old barrels
- Class systems are important but so Robert Parkers 100 point system
*
Bordeaux: Le Place de Bordeaux
- Wine is sold to merchant / negociant who in turn sells it to wholesalers and retailers
- Relationship between producer and and the merchants is handeled by a broker / courtier
- Everyone charges a % of commission
- Wines are then sold and shipped to distributors ( importers, whoelsalers and retailers) around the world by merchants ( at 15 %)
- and brokers make 2%
- Each Merchant is allocated an amounnt - some chateaux work with over 40 merchants who sell to over 170 countries
- Two strong contrasts -
- Bordeau and Bordeaux Superieur 44% of the market - $1 per Litre and super prem wines **
Bordeaux: En Primeur
- Classed growths and high quality wines are sold as futures eg. paper transactions of the sale 18 months before it goes to bottle
- Wines are sold in the spring following harvest while wines are in barrel not finished
- Secure hard to buy wines at a lower price than would appear in the retail market
- Estates benefit from early sales
- System dates from WW2 when Chateaux were struggling financially
- Did not become an event until the 70-80s
- April is the start of the campaign-
- 5-6,000 wine professionals taste and assess the wines in barrel
- Prices are released in May-June
- First tranche , will be released to the negociants to sell based on the reputation and expert review of the Chateaux - the first tranche is intended to gauge the market and then the price is adjusted.- usually increasing
- The final customer of an en primeur wine can put in their order through the fine wine merchants
- Wines in demand, especially the rarest most sought after wines will be on allocation
- This means merchants may need to buy less desirable vintages to maintain their allocations for the good ones
- Wines can remain on the books for years and sold durin gyears with low yields or during price hikes
- This process last several months and the success of the campaign depends on the quality of th vintage, prices asked and state of the market
- eg. if an average vintage follows a number of successful ones , estates may need to reduce prices - not always the case
- **Price included bottled wine, delivered to the storage of the retailer a year later **
- but excludes any taxes that will be due in the final buyers home market
- Wines are then held in secure temp controlled stoage for long term storage of fine wine - buyer can decide to deliver or stored until its drinking date ( could be 10 years )
- or sell the wine making a profit
- Bordeaux accounts for the largest protion of wine sold on the second market
- *
Bordeaux : En Primeur ADV vs. DIS
The rise and fall of the markets eg. 2000’s boom in China that fell in 2011 during a poor vintage has led to critics concerns about how much the reviews affect the price .
In 2012, Ch. Latour announced it would no longer sell its wines en primeur as prestigious Chateaux can afford to keep their wine and only sell when bottled.
**ADV - For the estates :
ability to test the market by releasing early lower priced tranches
-early payment and return on investment allowing estates to finance the next vintage
DIS -for the estates :
potentially selling at lower price than might be obtained for bottled wine
financial mismanagement or losses by merhcantes that could adveresly affect the estates reputation **
**ADV for the final customer :
secure sought after wines and at the lowest price
option to keep or trade sought after wines
DIS for the final customer :
wines are bought on the opinion sof trade buyers and journalists tasting unfinished barrel samples that may not reflect the final wine
Merchants may go out of business before the wine arrives
prices may fall before the wine arrives due to economic conditions or quality of vintages **
