OENOPHILES the world over start quivering at the very mention of Mouton ’45, Cheval Blanc ’47, Petrus ’61, Latour ’82 and Haut Brion ’89. These are the holy grail of Bordelais winemaking, namely vintages that are as rare as hens’ teeth and sport astonishing price tags.
Wines of this pedigree are often referred to as ‘pension wines’, as their quality and price keeps growing with time. The price growth can be such that, in the years ahead, they can be sold at a significant profit to potentially support retirement income, much like investing in the stock market.
With pension wines, a heady mix of terroir, skill, climatic conditions and luck align in such a way that wines of ethereal quality are produced — and the vast majority, over the years, have always been produced by the world’s most famous wine-growing region: Bordeaux.
The next Mouton ’45
David Jackson, a professional wine investor and founder of fine wine marketplace, Squelch, has named the three wines he believes will be the 1945 Chateau Mouton Rothschild of the 21st Century — a wine that is currently retailing for as much as £15,000 a bottle, which translates to £3,000 a glass and £500 a sip.
Unsurprisingly, all three of these soon-to-be ‘legends’ were produced by world-recognised Bordeaux vineyards, but their price, while steep, is still within the reach of (fairly) regular investors as it will be years, in some cases decades, before they should be uncorked.
“To become a legend, a wine must have three attributes”, says David. “Extraordinary quality, desirability and scarcity. The first two are inherent. The latter comes with time.
“Bordeaux production is, on the whole, relatively generous. So a lot of corks needs to be pulled before supply falls to the necessary trickle for legendary status, the point at which demand — and price — become obscene.”
David and Goliath wines
David added that not all wines need to be ‘First Growths’ (Premier Crus), namely those originating from the five most prestigious ‘Left Bank’ wine estates situated on the west bank of the river Garonne: Lafite Rothschild, Latour, Margaux, Mouton Rothschild and Haut-Brion
He said: “Yes, the list of legendary wines does tend to be monopolised by the five First Growths, as well as the likes of Petrus and Le Pin on the Right Bank of the Garonne in Pomerol. But there are many notable David and Goliath moments.
“Pichon Lalande 1982, for example, was a Second Growth but one that was broadly considered to have got the better of behemoths, Mouton and Lafite, in this vintage.
“Or consider ’61 Palmer, ’89 Montrose and ’90 Lynch Bages. All three of these wines punched well above their weight and are now trading at significant price premiums to their more ‘normal’ siblings, and sometimes the First Growths themselves.”
Below are the three wines that David believes will be the Bordelais legends of the future, which oenophiles and investors should be snapping up now, before their prices soar out of reach.
Pontet Canet 2010
Pontet Canet’s rise through the Bordeaux hierarchy under the helmship of the Tesseron family has been nothing short of stratospheric. The Cru Classé classifications have been more or less set in stone since 1855, so while this vineyard technically remains a Cinquièmes Cru (5th growth), spiritually speaking it is a ‘Super-Second Growth’. Back in the 80s, the estate had fallen so far from grace it was the plonk you were served on an SNCF train. Today it’s one of the most consistent and desirable Bordeaux offerings of all. This magnificent 2010 has garnered 100 points from celebrated wine critic Robert Parker and at least half a dozen other prime critics. It’s a humdinger, with legend status written all over it. And at £1,600 for a case of 12, it’s the standout bargain in this company.
Chateau Margaux 2015
Released in an achingly beautiful one-off bottle to celebrate the passing of winemaker Paul Pontallier, a Bordeaux legend in his own right, this is objectively one of the best wines ever produced by Margaux. And given the godlike status of the estate, that is saying something. There is form for fancy special edition bottles driving desirability. Mouton Rothschild 2000, which garnered relatively modest critical admiration for the vintage, is one of the most collectable Moutons of all in its handsome black and gold livery. It’s reflected in prices, too: the ’00 will cost you about three times that of other comparable Mouton vintages. I reckon this Margaux ’15, with both beauty and substance, is almost certainly a future legend, though it will cost you the wrong end of £8,000 for a case of 12.
Lafite Rothschild 2016
It’s fair to say that many of us are suffering from vintage fatigue. Modern winemaking techniques in Bordeaux mean we’re no longer simply offered “on” or “off” vintages. These days we’re served up only “great” or “even better”. But 2016 deserved its heraldry more than most. Every Bordeaux wine I’ve sampled from 2016, from Cru Bourgeois to First Growth, has been mind-bendingly good. And whilst it might seem a little unimaginative to add Lafite to the list, it would equally feel remiss to leave off Bordeaux’s No.1 poster child. It’s a good buy right now, too. Prices peaked at over £8,500 per case in 2022, but three unusually tricksy years for the wine market have brought that down to the relative ‘bargain’ of under £6,000. A pension wine for sure.
