Author Archive

We are delighted to invite you to attend the launch of our Waud Investment Wine 2016 Bordeaux En Primeur campaign on Wednesday 22nd March from 5.30pm at Nicholas Mee & Company Aston Martin showrooms in West London.

Last year our various Waud Wine syndicates made up of friends, colleagues and wine club members, again invested over £250,000 in wines that are currently trading very favourably in the market thanks to astute buying from our expert, Stuart McCloskey. The wines we purchased in 2015 from the 2014 En Primeur campaign are now trading (just 18 months later) on average at a 22% premium.

The presentation will explain the basis and attraction of investing, as well as the generous treatment of Vat and Duty, in addition to the fact that Capital Gains tax is not applicable to the profit generated from this investment.

Here are some video highlights from last year’s events:

 

We can accommodate around 50 people at the event where we will be serving sparkling wine and canapes, enjoying a good browse of the Heritage Aston Martins in stock and finishing up after the presentation with a treat of a tutored tasting of several investment grade Bordeaux wines.

The venue again this year is;

Nicholas Mee & Company, Brackenbury House, 158-160 Goldhawk Road, London, W12 8HJ

http://www.nicholasmee.co.uk/contact-us/showrooms/

Please let me know if you would like a ticket to the event and if you would like to bring anyone with you? – we will be running another event on the same lines the following night for Nicholas Mee’s own clients as well.

If you have any questions in the meantime, please do not hesitate to get in touch.

Very best,

Charles
charles@waudinvestmentwines.com
020 7940 5516

As we rev up towards our 2016 Bordeaux En Primeur Campaign, we look at a fascinating article about the 2016 wines. The below article is written by Bordeaux grower, winemaker and writer Gavin Quinney and was published on the Liv-Ex blog.

Bordeaux 2016 – the largest harvest since 2006

2016 was the biggest Bordeaux harvest in over a decade, according to official figures. The production of 577.2 million litres – the equivalent of a staggering 770 million bottles – was the largest since 2006, when there was 10% more vineyard area. Strong harvest figures for Bordeaux are, of course, in stark contrast to many less fortunate regions across France in 2016.

At an average of 52 hectolitres per hectare (hl/ha), 2016 saw the highest yield per hectare since the largest crop of the century to date in 2004, which came in at 54 hl/ha. “The yield on the Merlot,” I wrote in Bordeaux 2016 – quality and quantity last October, “is the biggest I’ve seen since 2004 and the quality is far superior to that attractive but uneven vintage. As Bordeaux is 89% red and Merlot accounts for two thirds of that 89%, it’ll be a big crop out in the sticks.”

It’s the third good Bordeaux vintage in a row, following on from the minor disaster that was 2013 (34hl/ha), and with the en primeur or ’futures’ tastings due to take place in late March and early April, the trade and the press will soon be able to judge if 2016 lives up to its billing of quality as well as quantity. Red wine accounted for 85% of production in 2016, plus 4% rosé, 10% dry white and 1% sweet white.

As ever, and not unreasonably, the focus for the primeurs will be on the top 300-400 wines from the leading Appellations. I’ve put together the yields for seven of these Appellations since 2006, and 2016 saw the highest yields in several years for five of them. It should be noted that the majority of the top estates ‘green harvested’ their crop from early summer onwards, reducing the potential yield in order to improve quality. Or, in some cases, to stay within the permitted maximum quota which, for reds in 2016, was 50hl/ha (eg St-Émilion Grand Cru) up to 58hl/ha (eg Graves), depending on the Appellation.

 

Bordeaux Grapes

The Cabernet Sauvignon was less plentiful than Merlot – often the result of less even flowering in June and smaller bunches – and this is reflected in more modest yields at some leading chateaux. Younger vines on more porous soils suffered during the Summer drought, when a tenth of the normal rainfall from 23 June to 13 September fell in some areas, and this also reduced the crop size.

Generic red Bordeaux makes up 35% of production, with over 200 million litres and yields of 56.6hl/ha across 35,700 hectares. It may not sound much, but this was a significant increase on the 51.1hl/ha and 51.7 hl/ha in 2015 and 2014 respectively. Bordeaux Supérieur notched up almost 60 million litres, with yields of 50.4 hl/ha across 11,850 hectares.

Most, but not all, Bordeaux rouge and Bordeaux Supérieur comes from the Entre Deux Mers and the loosely defined ‘right bank’. If you know a little of the geography of the region, you’ll see that the red and red-toned segments are those of the right bank and the Entre Deux Mers, and they’re responsible for two thirds of the whole output. Merlot, which is widely planted here, saw some spectacular yields in 2016. The Cabernets rather less so.

Meanwhile, the bluer sections of the left bank account for markedly less wine. The entire Médoc and Haut-Médoc – including Margaux, St-Julien, Pauillac and St-Estèphe – and the Graves and Pessac Léognan combined produced 100 million litres of red. That’s a lot of wine but it represented little more than a fifth of the output of Bordeaux red in 2016. Again, by volume, most of the generic dry white comes from the Entre Deux Mers.

In every case for red wines and dry whites, the combined averages for each Appellation group show higher yields in 2016 than for any other vintage. It was also a good year for sweet white wines in terms of yield.

Vins de France, Vins de Pays

Non Appellation Contrôlée wines are very much in the minority in the Gironde but it’s interesting to note that production of Vins de France and Vins de Pays (de l’Atlantique) combined, doubled from 16 and 15.5 million litres in 2014 and 2015 respectively to 31.5 million litres in 2016. 90% of this was Vins de France.

Published: Liv-ex Blog
Date: 17th February 2017
Link to Article: http://www.blog.liv-ex.com/2017/02/bordeaux-2016-largest-harvest-since-2006.html?mc_cid=20fb6130fe&mc_eid=bdabaddbb0

As interest surrounding Bordeaux 2014 continues to build, critics have started to announce their in-bottle scores for the vintage. James Suckling released his this week; James Molesworth and Antonio Galloni published theirs last week.

Mouton Rothschild 2014 is the only wine to appear in all four critics’ top ten. Cheval Blanc, Latour, Vieux Chateau Certan each appear in the top ten for three of the four reviewers.

James Suckling’s top scores were higher than other critics. He awarded Lafleur and Ausone a ‘perfect’ 100 points, noting that he is “in awe” of Ausone, and exclaiming that Lafleur “is fantastic on the nose. OMG!” As can be seen, eight of his top ten wines have been scored above their original barrel range.

James Molesworth and Antonio Galloni have been a little more reserved. All of Molesworth’s scores fall within their original barrel ranges. Galloni awarded 97 points to seven Bordeaux reds with Vieux Chateau Certan acheiving the top score of 97+, above its original barrel range of 93-96+.

Neal Martin’s in-bottle scores for Bordeaux 2014 are expected in the next few months.

Published: Liv-ex Blog
Date: February 17th 2017
Link to article:
http://www.blog.liv-ex.com/2017/02/bordeaux-2014-scores-bottle.html?mc_cid=20fb6130fe&mc_eid=bdabaddbb0

As the campaign draws to a close, Château Lafite releases their 2015 @ £4,350.00 IB per case, which represents circa 20% decrease against the ‘06, ‘07 and 2008 vintages and £2,000.00 per case cheaper than the ‘05, ‘09 and 2010 vintages.

97-98 James Suckling “Here is a Lafite with lots of muscle and tone. Very tannic and velvety textured. Full body, fresh acidity and a bright finish. Shows a tenderness at the end. Gorgeous”.

94-97 Antonio Galloni “A dramatic, ample Lafite, the 2015 is also arrestingly beautiful and vivid. Expressive floral notes give the dark red and black flavors gorgeous aromatic lift. Today, the new oak is a bit pronounced, but otherwise, this is an exceptional wine. Rose petal, lavender, mint and purplish stone fruits add the last shades of detail”.

94-96 Neal Martin “The 2015 Lafite-Rothschild is a blend of 91% Cabernet Sauvignon and 9% Merlot picked between 17 September and 6 October. Matured in 100% new oak, it has a tightly-wound bouquet with black cherries, cassis, cedar and graphite, though it does not quite possess the depth one would have expected the vintage would have bestowed. The palate is medium-bodied with supple tannin, harmonious on the entry and with the oak neatly integrated. There is a very fine grip towards the finish, which has a tangible spicy edge – white pepper with a touch of bay leaf and enough pencil lead to fill a stationery set. The aftertaste is extremely long here, more than a minute when I timed it on my watch. It is an excellent Lafite-Rothschild in the making and it often “finds its voice” only after bottling, so it could ultimately end with a higher score”.

96 Decanter “The Lafite violets come to the fore, providing finely polished elegance to the palate. It seems discreet but the cellar master says 2015 is the most ‘concentrated’ Lafite they have made. This will show as it matures.”

98 Tim Atkin “A wine that has divided opinions in 2015. What some people see as greenness, I regard as freshness and balance. This is elegant and harmonious, but doesn’t lack stuffing, carrying its 100% new oak with ease. Graphite, blackcurrant and cedar wood are underpinned by chalky minerality”.

18.0 Jancis Robinson
“Lustrous mid crimson. Lightly spicy nose and very smooth tannins in the Lafite style. Only just enough acidity. Blurry impression. Mild and charming – very restrained and Lafite. It builds on the end in an impressive manner”.

Denis Durantou’s long awaited release, Château L’Eglise Clinet was highly recommended and we snapped up our allocation @ £1,900.00 IB per case.

98-99 James Suckling “Lively and energized. Full body, intense and dense tannins. Great wine. Goes on for minutes. Such focus and clarity”.

96-98 Neal Martin “The 2015 L’Eglise-Clinet is a blend of 90% Merlot and 10% Cabernet Franc, picked between 21-25 September at 41 hl/ha and matured in 70% new oak. Denis Durantou poured two samples for me. First from Darnajou barrel. Here, a very composed, effortless bouquet with extremely pure raspberry coulis, strawberry, almost confit-like scents that display ethereal delineation. This is not a powerful or intense bouquet, rather one that is sophisticated and refined, bunches of violet emerging with time. The palate is medium-bodied with sappy red berry fruit, crisp acidity, mineral-rich and tensile. There is tangible energy and refinement on the finish that lingers long and tenderly in the mouth, a wine constantly having something more to say. The second came from Demptos barrel. This was deeper on the nose, showing a touch more fruit, slightly higher toned. The palate is medium-bodied with fine tannin, structured in the mouth, perhaps the barrel impressing its character more on the wine than the Darnajou. Together, they should combine to create a quite magical 2015 L’Eglise-Clinet”.

95-97 Antonio Galloni “Denis Durantou’s 2015 L’Eglise-Clinet is magnificent. A wine that has it all, the 2015 is vertical, dense and also remarkably translucent, all at the same time. The purity, freshness and energy of the 2015 is remarkable and yet the wine has immense depth. Readers will have to be patient, as the 2015 carries considerable tannic heft. In 2015 L’Eglise-Clinet is a wine of stature and true pedigree. The 2015 is a blend of 90% Merlot and 10% Cabernet Franc brought in between September 21 and 25. Don’t miss it”.

Dubbed one of the best wines of the 2015 vintage, we are again pleased to have taken our allocation of Mouton Rothschild at £4250 per case.

97-99 Neal Martin “The 2015 Mouton-Rothschild is a blend of 82% Cabernet Sauvignon, 16% Merlot and 3% Cabernet Franc matured entirely in new oak, as usual. This represents a relatively high percentage of Merlot simply because, as winemaker Philippe Dhalluin told me, that quality was so good. I afforded my sample four to five minutes to open as it was a little reduced at first, but eventually it reveals a gorgeous, extraordinarily intense bouquet of blackberry, cassis, incense and cold slate aromas. In some ways it reminds me of Latour as much as Mouton Rothschild. The palate is medium-bodied with svelte tannin, perfectly pitched acidity, wonderful tension and impressive length. There is a strong graphite theme running through from start to finish that is little grainy and so it will require preferably a decade in cellar. But what freshness and panache here, a classic Mouton-Rothschild that will live for 50 or 60 years, not a million miles away from say, the 1986 or 2010. Expect this to settle at the top of my banded score once in bottle. Drink 2027-2060.”

96-97 James Suckling “Very racy and refined with super polished tannins and focused dark fruits. Blackberry, orange peel, and black currants. Full. Very long and thought-provoking. A wine that delivers power and finesse. Juicy and fresh”.

19.0 Jancis Robinson “Very majestic nose. Obviously first-growth quality. Savoury and plush in terms of texture. Restrained without being a wimp. Lovely scent. Dry finish but with some of Mouton’s opulence before then. Very fine. Very exciting. Some saline sap as well as all the ripe fruit.”

98 Decanter “My joint top wine (with Ch Margaux) of the vintage. A real firework display but still controlled. Very rich on the palate: broad yet silky, earthy yet so refined. This is Mouton at a new peak and it’s hard to imagine a better balance of elegance and power”

The 100 Point Château La Mission Haut Brion needs no introduction and we have picked up 10 cases @ £3,150.00 IB per case.

Suckling 100The purity in this wine is really mindblowing. So perfect. Licorice. Stone. Blackberry, blueberry. Full body. The power is amazing. But then it finishes etheral and so agile and beautiful. I am lost for words. This will rank with the best ever from here including 1975 and 1929

97-99 Neal Martin “Complete and profound, the 2015 will rank as one of the great modern-day classics from this grand estate, another to add to that long list of magical La Missions”.

Cos d’Estournel is the first property you come to as you leave Pauillac, with its vineyards bordering those of Chateau Lafite Rothschild. The quality of the terroir has never been in doubt and the quality of the wines in recent vintages, including the Parker 100 point 2009, has been very impressive.

One of the great names of Saint-Estèphe, Château Cos d’Estournel has released their 2015 @ £1,270.00 IB per case. We cannot think of one compelling argument as to why anyone should buy this wine!

The wine has received mixed reviews from Suckling’s glowing 97-98, Jancis Robinson’s 18.5 and then with a less impressive 92-94 from Neal Martin. 

Those looking for a “top-tier” Cos might note that the 2005 has a Market Price of £1,295 and a score of 97 from Robert Parker. Buyers seeking a Cos with a similar score to the new release may also find the 2012 compelling: with 93+ from Parker, it is priced 38% below the 2015. (Liv-ex Blog)

 

One of the best Pessac-Léognan wines of 2015, Château Haut Bailly was bought @ £720.00 IB per case. Only very small quantities were available.

James Suckling awards 98-99 placing this above the First Growth Château Haut Brion, whereas Neal Martin scores 95-97, placing it on-par with Domaine Chevalier ‘Rouge (A ‘must buy’) and Smith Haut Lafitte ‘Rouge’.

98-99 James Suckling “This is a vivid and powerful red with lots of bright fruit and spice character. Full body, chewy tannins and loads of fruit on the finish. Firm and focused tannins. Lots of energy and vibrance. Spice and violet leaf undertone. Pure fruit. Pure structure.”

95-97 Neil Martin “The 2015 Haut Bailly is a blend of 60% Cabernet Sauvignon, 36% Merlot and 4% Petit Verdot (Véronique Sanders told me that the latter was planted three years ago.) My sample included 80% new oak, but there will be 50% in the final blend. Deep in color, the bouquet is very intense with multilayered blackberry, blueberry, crème de cassis and subtle black olive aromas, introverted at first but soon racing out of the blocks with aeration. The palate is medium-bodied with ripe, quite firm tannin. This is an Haut-Bailly with real backbone, real sense of purpose. It could have tipped over into being overpowering due to that intense Merlot, but the acidity keeps everything in check and the finish demonstrates wonderful tension. In particular, the aftertaste is incredibly long in the mouth. This Haut Bailly is up there with the 2009 and 2010 – a bravura Pessac-Léognan destined for long-term ageing. Do yourself (and the wine) a favor and cellar it for 12 years, drinking the 2012 or 2013 before reaching for this”.

95-97 Antonio Galloni “The 2015 Haut-Bailly is remarkably vivid for such a big wine. Firm beams of tannin give the 2015 much of its shape and overall energy, both of which the 2015 needs to balance its superb concentration. Sweet floral and spice notes give lift to the unctuous red cherry jam, pomegranate and blueberry flavors. The 2015 is likely to need quite a bit of time to come together, but it is already a very special wine. Even with all of its obvious depth, the 2015 retains gorgeous freshness. In 2015, the blend is 60% Cabernet Sauvignon, 36% Merlot and 4% Petit Verdot, the first time Petit Verdot has appeared in the blend”.

We are expecting another incredibly busy week with many of the ‘top’ Châteaux yet to release however, Pichon Baron’s release this morning may put a stop to the flood whilst they reconsider their pricing strategies.

Sadly, 2015 Château Pichon Baron @ £995.00 IB per case is quite simply daft and perhaps based on Neal Martin’s comments “If you want to know whether this 2015 is up there with the 2009 or 2010, the answer is unquestionably yes”.

For interest, the ’09 is available @ £1,150.00 and the 2010 @ £1,200.00…

There are a number of UK merchants pumping this information out as a good buy, however the majority are being more ambivalent.