Wally’s Bordeaux Blog – Vintage 2014 Dispatches from Bordeaux – Recap and Top Picks

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It’s been a few months since my last blog entry and, as the campaign wraps up, I thought I’d put together a review of the top wines of the vintage and best buys now that we know all of the pricing and can take a full view of the 2014 vintage. These are my insider recommendations based on my tastings in Bordeaux during En Primeur with an eye on the wines that provide the greatest value.

Let’s take a look at a few lists, beginning with the best of the best:

The Finest Wines of the 2014 Vintage

1) 2014 Chateau Cheval Blanc ($459.99, 96-99 WS)
2) 2014 Chateau Haut Brion ($319.99, 95-98 WS)
3) 2014 Chateau Mouton Rothschild ($319.99, 95-98 WS)
4) 2014 Vieux Chateau Certan ($137.99, 95-97 WA)
5) 2014 Chateau Montrose ($114.99, 95-97 WA)

Based purely on quality I believe these are the wines that reach the highest heights in 2014. Cheval Blanc really stands alone at the top, it is a stunning wine with a level of class and luxurious sophistication that even the firsts don’t quite reach. It’s effortlessly pure and balanced, with an incredibly silky texture and extraordinary complexity. Wine of the Vintage, full stop.

While Haut Brion and Mouton are no surprises here, the obvious standouts are VCC and Montrose which represent incredible values for top 5 level wines. Montrose in particular is a stunning wine at a shockingly good price. In my opinion, which is shared by most of the critics this year, the 2014 Montrose is better than honorable mentions Lafite, Margaux, La Mission Haut Brion, Ducru Beaucaillou, the list goes on… Because of the incredible value on offer here, it’s my number one pick for this vintage. If you buy only one wine, Montrose should be it.

For the value hunters…

Top 2014 Bordeaux Quality-to-Price Ratio

2014 Chateau Barde Haut $26.99 91-94 AG
2014 Chateau Faugeres $29.99 92-95 AG
2014 Chateau Lafleur Gazin $32.99 92-95 AG
2014 Chateau Larcis Ducasse $49.99 93-96 AG
2014 Chateau Grand Puy Lacoste $53.99 93-96 WS
2014 Chateau Pavie Macquin $55.99 93-96 WS
2014 Chateau Beausejour Duffau Lagarrosse $74.99 94-97 AG

These are the wines that really overachieve in the $25-75 sweet spot. Barde Haut, Faugeres and Lafleur Gazin are all stunningly good. At $25-35, these are wines that will easily drink comparably with wines in the $50 range when they arrive. For those with the foresight to buy them now, these are great candidates for house wines and should be bought by the case.

Grand Puy Lacoste is a star in the making. Long a connoisseur’s favorite, GPL exudes a purity and clarity of Paulliac terroir that is rare at its pricepoint. For those looking for the wine most likely to make the leap (ala Lynch Bages and Pontet Canet), this is the estate. It also doesn’t hurt that it is a personal favorite of new Wine Advocate critic Neal Martin.

I cannot say enough about the amazing work done by Nicolas Thienpont and Stephane Derenoncourt at the trio of Saint Emilion properties they manage: Larcis Ducasse, Pavie Macquin and Beausejour Duffau Lagarrosse. It’s beginning to sound like a broken record at this point, but the fact is no one else in Bordeaux comes close to making such consistently fantastic wines at very fair prices year in, year out. These wines are always incredibly exotic and expressive in their youth in an attractive modern style. What is baffling is the fact that they do so without any sense of overripeness or overt oak influence as so many modern styled wines do. They always clearly express their terroirs, show good balance and age extremely well. At $50-75 they deliver the quality of wines double their price and get my highest recommendation as the best bang for the buck wines in 2014 Bordeaux.

Now a look at some familiar names with not too familiar pricing…

Best-Selling Favorites at Their Lowest Prices in Years

2014 Chateau Calon Segur $57.99 93-96 AG
2014 Chateau Haut Bailly $59.99 93-96 AG
2014 Chateau Leoville Barton $60.99 92-95 WS
2014 Chateau Smith Haut Lafitte $62.99 93-96 WS
2014 Chateau Lynch Bages $83.99 93-96 WS
2014 Chateau Pichon Lalande $88.99 93-96 AG
2014 Chateau Pichon Baron $89.99 95-96 WCI
2014 Chateau Pontet Canet $89.99 93-96 AG
2014 Chateau Ducru Beaucaillou $107.99 94-97 AG
2014 Chateau Cos d’Estournel $114.99 95-96 WCI
2014 Chateau Leoville Las Cases $129.99 94-97 WS
2014 Chateau La Mission Haut Brion $194.99 95-97 WA
2014 Chateau Palmer $214.99 93-96 WS
2014 Chateau Margaux $319.99 94-97 WS
2014 Chateau Lafite Rothschild $414.99 94-97 WS

For those who have followed the prices of these wines from the heights of 2009 and 2010 (vintages where these wines are easily double or triple these prices), you can see just how striking the value of this vintage is. The scores are high, not far off the quality of those blockbuster vintages. And the prices are the lowest of any vintage currently available on the market. For so long it has been impossible to find Lynch Bages below $100, Leoville Las Cases below $200. And First Growths below $350. Yet here they are, and with incredible quality to boot.

Take Smith Haut Lafitte, a perennial favorite that usually lands around the $75-100 range. A pedigreed, single estate Cabernet blend with the highest level of winemaking. The wine is excellent this year and it’s available at $63. Try to get that sort of value from Napa Valley, it’s impossible. More and more, Bordeaux is producing excellent values that outpace the rest of the world.

For those with an eye on investment, I’ve grouped my targets into three categories providing the greatest opportunity for appreciation:

Limited Quantities on First Tranche
Lynch Bages
Margaux
Mouton Rothschild
Pichon Lalande

Undervalued/Room to Appreciate
Grand Puy Lacoste
Smith Haut Lafitte
Calon Segur
Beausejour Duffau Lagarrosse

Great Wines and Underpriced Compared to Other Vintages on the Market
Ducru Beaucaillou
La Mission Haut Brion
Leoville Las Cases

My top three investment targets are Lynch Bages, Margaux and Ducru Beaucaillou. Lynch and Margaux are major, in-demand labels that are fairly priced and in more limited supply than their peers. Both wines will go up as stocks are exhausted, these two are can’t miss buys. Ducru Beaucaillou is a spectacular wine this year and likely a candidate for an upgraded score from bottle. At $107.99 it’s just criminally underpriced compared to other good vintages of Ducru. I could easily see it selling for double the current price within 5 years.

Looking at the lower end of the spectrum. Grand Puy Lacoste, Smith Haut Lafitte and Calon Segur are interesting investment plays in volume. Their combination of name-recognition, low prices and high upside make them clear candidates to double in value in a 5-7 year window.

Buying well-known Bordeaux labels from a great vintage at bargain prices is always a strong investment and the opportunity is there this year. If you have the ability to put these away now, they will repay you in spades when they are ready to drink.

As always, please feel free to reach out to me personally if you have any questions about Futures or are seeking advice.

Geoff Pattison
Wally’s Wine & Spirits
Director of Imports
(310) 475-0606 Ext. 131
geoff@wallywine.com

Read up on previous dispatches from Bordeaux:
Dispatches from Bordeaux – Part 5