Pape_clement_2012

The “iconic” Pape Clement was named as one of the top five Bordeaux reds of 2012 in Robert Parker’s in-bottle report of the vintage, released at the end of April 2015. Parker upgraded the wine from a barrel range of 92-95 to 97 points in bottle and described it as “a candidate for near-perfection as well as one of the wines of the vintage”.

Following the upgrade, prices soared. In April, it traded for a low of £400 per 12×75. In early May, it traded for a high of £550: an increase of 38%. It then appeared to find a level at around £470 but has since begun to see a slight uptick: today, it was exchanged for £490.

Despite this increase, Pape Clement 2012 is still significantly cheaper than the other four top-rated 2012s. As the table below shows, it is available at less than half the price of the next cheapest 97-point wine (Hosanna 2012) and is around a quarter of the price of La Violette 2012. Are buyers looking to Pape Clement for 2012 value?

Top_Bordeaux_2012

The Pape Clement 2012 chart was taken from cellar-watch.com, using a Pro account.