Today Margaux became the third First Growth to release its
2012. Its ex-negociant price is €240 per bottle, the same as Mouton, which
equates to around £2,460 per 12×75. Released onto the international market at £2,800, it is 12.5% lower than its next cheapest
vintages, the 2004, 2006, 2007 and 2008.

It is early days but Margaux 2012 has already seen trade on the secondary market above release price, at £2,660 per 12×75.

With Latour having quit
En Primeur, Haut Brion will be the last First Growth to release its 2012. Will
it follow the lead of Margaux and Mouton at €240, or Lafite at €335?