Post hangover: What is the right price for Bordeaux en primeur 2023?
No two years are alike in the fine wine market, especially in Bordeaux. The 2022 vintage was of outstanding quality and its release in the spring of 2023 followed several years of rising prices. Since then, the market has taken a turn for the worse: sluggish demand combined with significant inventories have sent prices into a downward spiral. In this context, the pricing of the 2023 Bordeaux en primeur wines is being watched closely. For the châteaux, setting the right price is a real balancing act. Collectively, they are aware that the market needs 2023s to sell well, but they also want to avoid devaluing previous vintages by comparison. Individually, many châteaux are anxious not to squander the marketing efforts of recent years and fear diluting their brand by positioning themselves inappropriately.