On Friday, Neal Martin’s in-bottle review of Bordeaux 2014 was published in the Wine Advocate with updated scores. Based on these new scores, where does the value lie?
The chart above employs Liv-ex ‘fair value’ methodology to indicate which wines from the vintage may be over or under valued compared to other vintages from the same producers in the secondary market. This is based on price and score (Wine Advocate).
The model suggests that Lafite Rothschild, Leoville Las Cases and Canon Gaffeliere are the most undervalued 2014s. Petrus, Beausejour Duffau and Troplong Mondot are the most overvalued 2014s.
For example, the chart below shows the fair value trend line for Leoville Las Cases. Price and score for this wine are closely correlated at 75.4%. The model suggests that 2014 Leoville Las Cases is undervalued by 26% relative to other back-vintages in the secondary market.
Lafite Rothschild is relatively unique in that prices are highly correlated with score and age. Interestingly, Lafite Rothschild 2014 appears to be undervalued based on score but fairly valued based on age. Liv-ex members can access both models on Market View.