A little over a year ago, Robert Parker upgraded Montrose 2010 from 99 to 100 points. We had previously compared the price of the 2010 to its 100-point 2009 sibling and found a 38% discount for the younger wine, on the base of a single point’s difference. After the upgrade, prices rose for the 2010, and when combined with declines for the 2009 the gap shrunk to 15%. A year ago, the 2010 had a market price of £1,650 and the 2009 of £1,950. Little has changed since.
Montrose 2009 and 2010 continue to see good activity on Liv-ex, but prices have not moved and the gap remains. There are three possible explanations. First, the scores. Parker may believe the two are of equal merit but while Montrose 2009 scores 100 from James Suckling and 97 from Stephen Tanzer, the 2010 receives only 97 and 94+ respectively. Second, the longevity: 2009 is regarded as a more forward drinking vintage than 2010, with supply likely to diminish sooner (although its drinking window is still 2019-2069, compared with the 2010’s window of 2020-2100). Third, the distribution: 2009 was distributed widely at En Primeur, but by the time 2010 was released – at record prices – many collectors had already spent their money, leaving greater volumes in fewer hands.
Still, the 18% price difference between the two looks a little odd – and for those who share Parker’s view of the 2010, potentially advantageous.