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June 02, 2017

Mouton Rothschild & Pedesclaux 2016

Mouton.Grapes

This morning has seen the release of Mouton Rothschild, which is surely the First Growth and wine of the vintage. In 2016 its magical soils and the marvellous weather conditions have resulted in a momentous Mouton Rothschild. It has been awarded 98-100 points from Neal Martin and a straight 100 point score from James Suckling, which the latter describes as ‘The new 1986 but better.’ In that regard the 2016 should be considered already within the pantheon of truly great Bordeaux wines and a future legend, such as the 100 point 1986 which Suckling thinks it will surpass.

Considering the price comparison below, it is clear that today’s price offers great value for collectors able to secure a first tranche allocation. Today’s release price of £2,590 per case of six represents a 9% euro increase, translating as a 25% pound increase. The barrel score of 98-100 from Neal Martin means this will certainly exceed the 97-point scoring 2009 which trades at a 10% premium (£5,700). Indeed, the 2016 will surpass the 2010 which has a Wine Advocate score of 99 and trades at a 14% premium (£5,900). The potential 100-point score makes the 2016 a scintillating proposition, it is hugely investible and a collector’s dream!

Mouton WA JS Price Release  POP
2016 98-100 100 £5,180 £5,180 273
2015 97-99 96-97 £4,750 £4,160 264
2014 95 99 £3,800 £2,340 253
2013 92 95 £3,335 £2,400 278
2012 96 97 £3,400 £2,800 213
2011 92 96 £3,500 £3,770 292
2010 99 100 £5,900 £7,750 311
2009 97 98 £5,700 £7,800 335
2008 95 94 £4,200 £1,750 280
2007 92 94 £3,850 £2,450 321
2006 96 95 £4,435 £3,400 277
2005 98 96 £5,280 £3,500 293

 

The graphical analysis below compares previous vintage scores from the Wine Advocate with their current market price. This is a useful tool in ascertaining if a new release offers a discount to the expected release price. If so, an incentive to buy on release is presented. The 2016 Mouton Rothschild was awarded a median score of 99 points from the Wine Advocate, this would indicate a market price of approximately £5,400. This highlights the value of today’s release price of £5,180. This discount will be heightened further should the 2016 vintage achieve the upper end of its banded score of 100 points upon re-tasting. These findings are strengthened by a correlation of 0.81032, this indicates a strong positive relationship between the two variables.

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Mouton Rothschild occupies the peak of the most impressive gravel plateau to the north of Pauillac. This provides further drainage and the best view of the Gironde. The high mounds mean that the roots have to dig deep to find the water basin, struggling and concentrating their energy. The soil contains iron adding an extra minerality and richness to the wine. Under the vision of Baron Phillipe De Rothschild, who assumed ownership in 1922, Mouton Rothschild flourished and even managed to achieve First Growth status in 1973, the only Chateau to ever gain a promotion in the 1855 Classification at First Growth level.

Mouton commission a different artist every year to design their labels; artists include Francis Bacon, Salvador Dali and Pablo Picasso. Mouton Rothschild has exotic and powerful aromas with pronounced minerality and red fruit tones. Mouton is often described as extravagant and in the finest of the Bordeaux vintages, it makes truly great wine.

Mouton Rothschild 2016, 6×75 – £2,590 EP

98-100 Points, Neal Martin, The Wine Advocate
The 2016 Mouton-Rothschild is a blend of 83% Cabernet Sauvignon, 15% Merlot, 1% Cabernet Franc and 1% Petit Verdot, the latter two co-fermented, picked from 26 September and finished on 14 October. As usual, it is being matured in 100% new oak. It has a very intense bouquet with blackberry, raspberry, cold limestone and crushed violet aromas that if anything, appear to gain vigor with aeration in the glass. The palate is medium-bodied with supple, juicy tannin. There is a lot of fruit packed into this Mouton-Rothschild and therefore one can feel the weight in the mouth, yet the acidity keeps everything on tip-toes. The finish has superb precision and opulence, completing a Mouton-Rothschild that will rivet you to the spot. Tasted on two occasions, the second confirming that this is simply a magnificent wine. Whichever artist eventually designs the label is going to be drinking well.

100 Points, James Suckling
This is a phenomenal, muscular red that shows incredible power and depth. Full-bodied and with great concentration of tannins but this remains agile and polished. The form to this is stupendous. Such precision and clarity. The new 1986 but better.

We have waxed lyrical about the stellar quality from the village of Pauillac in 2016, collectors ought to focus here. In this regard, in addition to Mouton this morning, Chateau Pedesclaux has released for £396 per case of 12 or £198 per case of six. This offers magnificent value for money for a wine with a Wine Advocate score of 93-95 points, at just £33 per bottle. This gives it a Price Over Points (POP) ratio of 28, exceptional for a wine which heralds from Pauillac vines. Pedesclaux is a Grand Cru on the rise, designated as a Fifth Growth in Pauillac, therefore its promise is evident and recent investment has resulted in wines that punch above its price tag. Indeed, if we compare it against other wines already released this vintage, its value is evident.

Bordeaux 2016 WA Price POP
Gloria 93-95 £360 26
Pedesclaux 93-95 £396 28
Batailley 93-95 £414 30
La Lagune 93-95 £420 30
Clos du Marquis 93-95 £470 34
Gruaud Larose 93-95 £620 44
Trottevielle 93-95 £640 46
Troplong Mondot 93-95 £1,285 92

 

Pedesclaux was founded in 1810 by Pierre Urbain Pedesclaux, with a parcel of vines purchased from Chateau Grand Puy. The Pedesclaux family were already well known in Bordeaux at the time as negociants – indeed, Edmond Pedesclaux was one of the brokers who wrote the original 1855 Classification of the Medoc. The Estate was sold in 1891 and passed through several pairs of hands until 2009, when it was bought by Jacky Lorenzetti, also a 50% stakeholder in Chateau d’Issan and owner of Lillian Ladouys. Lorenzetti introduced a modern, meticulous style of management, with hand harvesting and laser optical sorting, which has ushered in a new era of quality. He also doubled the vineyard holdings of the Estate, including a 12 hectare purchase on the Milon plateau, adjacent to parcels owned by Chateau Lafite Rothschild and Chateau Mouton Rothschild. In 2015, the latest wave of modernisation was completed with new cellars designed by the architect behind those at Cos d’Estournel.

Pedesclaux’s inclusion in the 1855 Classification tells you how well sited the vineyards are and its promise. Our advice is to start buying it now, it will reward greatly. Only 9,000 cases are made per year, far fewer than its neighbours.

Pedesclaux 2016, 12×75 – £396 EP or 6×75 – £198 EP

93-95 Points, Neal Martin, The Wine Advocate
The 2016 Pedesclaux is a blend of 48% Cabernet Sauvignon, 45% Merlot, 4% Petit Verdot and 3% Cabernet Franc, picked between 29 September and 18 October, matured in 60% new oak. It has a tightly-wound bouquet with blackberry and raspberry fruit, a touch of iodine and graphite. I like the subtle nature of this Pedesclaux, the brooding intensity. The palate is medium-bodied with very fine tannin, crisp and fresh, a gorgeous salinity and a long and persistent, lightly spiced finish. This leaves the 2015 Pedesclaux far behind.

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