This article was updated on June 8. Check back for additional updates as wineries release their 2022 futures.
Some of the biggest names in wine are making a splash this month. Bordeaux’s top châteaus have begun releasing futures of their 2022 wines, giving wine lovers and collectors their first chance to grab hold of what is looking like the best vintage in several years.
But is anyone buying?
The en primeur system allows wine lovers to secure bottles of top classified growths while the wines are still aging in château cellars. Château owners get their money up front. Ideally, consumers get the wine at a cheaper price than when it's released two years later. But that isn't always the case, and recent vintages of many wines have not appreciated in value.
James Molesworth, Wine Spectator senior editor and lead taster for the wines of Bordeaux, recently visited the region and tasted nearly 200 wines from dozens of châteaus. He found that 2022 is a fantastic vintage in the making and should easily surpass recent years. The weather was hot, but consistent, and all the major varieties—Cabernet Sauvignon, Merlot, Cabernet Franc and the late-ripening Petit Verdot—performed well. Yields were low.
All of those factors point to higher prices, and négociants tell Wine Spectator they expect prices to rise 15 to 25 percent at top estates.
But there is little consumer appetite for price hikes. Europe is facing hard financial times, China is enduring a post-Covid slowdown, and while the U.S. dollar is strong, America is battling inflation and a possible recession. Plus, wines from the 2018, 2019 and 2020 vintages are still available for purchase now.
Over the coming weeks, we will track the latest releases, compare them to the prices of other vintages and analyze whether they offer good value. How far producers push prices will determine whether 2022 futures are a good buy for consumers.
June 8: Pichon Lalande, Pavie Macquin and Malescot-St.-Exupéry
While the campaign has been slower than predicted, prices have so far matched expectations, with price increases between 15 to 25 percent. Château Pichon Lalande bucked that trend, releasing its first tranche of futures at €170 per bottle ex-négociant, up 28.8 percent on the 2021 release price of €132. The wine is available at top U.S. retailers for $238 per bottle, $2,856 per case, up a sizable 35 percent from the 2021 futures.
On the Right Bank, Pavie Macquin released its 2022 futures at €67.20 per bottle ex-négociant, up 16.7 percent on the 2021 release price of €57.60. American retailers are selling it for $91 per bottle, $1,092 per case, a 7 percent increase on the 2021s. The wine is cheaper than the 2020 and 2018 vintages currently on sale and comparable to the 2019s.
Château Malescot-St.-Exupéry released its 2022 futures at €45 per bottle ex-négociant, up 21.0 percent on the 2021 release price of €37.20. Retailers are offering it for $64 per bottle, $768 per case, an increase of 14 percent from 2021 futures and cheaper than the 2020, 2019 and 2018 vintages currently on sale.
June 6: Palmer
Margaux’s Château Palmer released its first tranche of futures on June 5 at €295 per bottle ex-négociant, up 22.9 percent on the 2021 release of €240 per bottle. Top U.S. retailers are offering it for $385 per bottle, $4,620 per case, a 22 percent jump on the 2021 futures. That’s slightly higher than both the 2020 and 2019 vintages current retail prices. Palmer’s team has increased the wine’s quality notably in the past decade, and prices have risen too.
2022 Futures Prices
These estates represent a selection of leading wineries. Retail prices are an average of trusted retailers we follow. Prices for the 2022s are listed alongside the current prevailing retail price for Bordeaux's recent vintages, so you can measure where the wines are vis-à-vis those currently on retail shelves.
Data compiled by Cassia Schifter
| Château | 2022 initial futures offering at U.S. retail | 2021 initial futures offering at U.S. retail | 2021-2022 retail change | Current 2020 price at U.S. retail | Current 2019 price at U.S. retail | Current 2018 price at U.S. retail |
|---|---|---|---|---|---|---|
| Angélus | $455 | $340 | +34% | $408 | $401 | $460 |
| Beychevelle | $96 | $89 | +8% | $115 | $133 | $144 |
| Brainaire-Ducru | $57 | $45 | +28% | $55 | $72 | $79 |
| Calon-Ségur | $NA | $120 | -% | $136 | $148 | $200 |
| Canon | $NA | $123 | -% | $224 | $201 | $198 |
| Canon-La Gaffelière | $91 | $74 | +23% | $89 | $96 | $116 |
| Cheval-Blanc | $668 | $532 | +26% | $649 | $958 | $935 |
| Clos Fourtet | $NA | $104 | -% | $130 | $133 | $156 |
| Cos-d'Estournel | $NA | $216 | -% | $235 | $221 | $237 |
| Ducru-Beaucaillou | $NA | $207 | -% | $262 | $252 | $250 |
| Figeac | $NA | $234 | -% | $265 | $325 | $325 |
| Giscours | $NA | $57 | -% | $72 | $69 | $90 |
| Grand-Puy-Lacoste | $81 | $69 | +17% | $84 | $86 | $98 |
| Haut-Brion | $NA | $562 | -% | $688 | $736 | $786 |
| Hosanna | $NA | $140 | -% | $150 | $169 | $186 |
| La Fleur-Pétrus | $NA | $235 | -% | $273 | $228 | $271 |
| La Mission Haut-Brion | $NA | $298 | -% | $436 | $475 | $452 |
| Lafite Rothschild | $NA | $613 | -% | $848 | $1,172 | $1,288 |
| Léoville Barton | $90 | $77 | +17% | $104 | $131 | $128 |
| Léoville Las Cases | $NA | $218 | -% | $323 | $286 | $343 |
| Léoville Poyferré | $NA | $105 | -% | $123 | $131 | $170 |
| Les Carmes Haut-Brion | $NA | $118 | -% | $186 | $182 | $224 |
| Lynch Bages | $NA | $121 | -% | $150 | $202 | $167 |
| Malescot-St.-Exupéry | $64 | $56 | +14% | $69 | $76 | $83 |
| Margaux | $NA | $564 | -% | $729 | $916 | $936 |
| Mouton-Rothschild | $NA | $563 | -% | $749 | $936 | $885 |
| Palmer | $385 | $316 | +22% | $373 | $365 | $520 |
| Pape Clément | $NA | $88 | -% | $107 | $111 | $121 |
| Pavie | $NA | $301 | -% | $370 | $387 | $452 |
| Pavie-Macquin | $91 | $85 | +7% | $120 | $93 | $105 |
| Pétrus | $NA | $NA | -% | $NA | $NA | $4,700 |
| Pichon Baron | $NA | $144 | -% | $177 | $218 | $223 |
| Pichon Lalande | $238 | $176 | +35% | $219 | $277 | $268 |
| Pontet-Canet | $NA | $100 | -% | $123 | $158 | $166 |
| Rauzan-Ségla | $NA | $82 | -% | $120 | $125 | $184 |
| Smith-Haut-Lafite | $NA | $118 | -% | $165 | $146 | $162 |
| Talbot | $66 | $54 | +23% | $67 | $89 | $91 |
| Troplong Mondot | $NA | $98 | -% | $120 | $128 | $131 |
| Trotanoy | $NA | $NA | -% | $410 | $377 | $396 |
| Valandraud | $NA | $132 | -% | $179 | $175 | $209 |
| Vieux Château Certan | $NA | $333 | -% | $429 | $371 | $399 |
$NA means a wine has not been released or is not sold in sufficient quantities by U.S. retailers yet to determine an average price.
![Château Talbot]](https://mshanken.imgix.net/wso/bolt/2023-06/ns_talbot060223_1600.jpg?auto=compress,format,&sharp=5&vib=20&q=70&w=320 320w,https://mshanken.imgix.net/wso/bolt/2023-06/ns_talbot060223_1600.jpg?auto=compress,format,&sharp=5&vib=20&q=70&w=320 640w,https://mshanken.imgix.net/wso/bolt/2023-06/ns_talbot060223_1600.jpg?auto=compress,format,&sharp=5&vib=20&q=70&w=384 768w,https://mshanken.imgix.net/wso/bolt/2023-06/ns_talbot060223_1600.jpg?auto=compress,format,&sharp=5&vib=20&q=70&w=828 828w)
June 2: Canon-La Gaffelière, Talbot, Grand-Puy-Lacoste and Branaire-Ducru
After two weeks of relative quiet, the futures campaign started to heat up again this week, as some top wineries released their futures to the market. Stephan von Neipperg announced tranches from his major St.-Emilion properties today, including Château Canon-La Gaffelière. The 2022 debuts at €64.80 per bottle ex-négociant, up 20 percent on 2021’s opening price of €54 per bottle. Top U.S. retailers are selling it for $90 per bottle or $1,080 per case, a 22 percent increase on the 2021. That's roughly the same price as the 2020 and 2019 vintages, already bottled.
On the Left Bank, Château Talbot released its 2022 futures at €48 per bottle ex-négociant, up 21.2 percent on the 2021 release price of €39.60. Top U.S. retailers are offering it for $66 per bottle, $792 per case, a 23 percent increase on the 2021. That's about the same price as the 2020 but well below the 2019 and 2018 vintages.
Grand-Puy-Lacoste released its 2022 futures on May 30 at €58.80 per bottle ex-négociant, up 16.7 percent on the 2021 release of €50.40. Top U.S. retailers have it for $80 per bottle, $960 per case, a 16 percent increase on the 2021 futures. While it’s a healthy price bump, it’s slightly below the 2018, 2019 and 2020 vintages. Still, you can grab those finished wines now.
Château Branaire-Ducru released its 2022s on May 31 at at €39.60 per bottle ex-négociant, up 26.9 percent on the 2021 release price of €31.20. It’s being offered for $56 per bottle, $672 per case, by leading U.S. retailers, up 26 percent from the 2021s. That’s about the same current retail price of the 2020 but well below the 2019 and 2018 vintages.
May 15: Château Beychevelle
Château Beychevelle began this week by releasing its 2022 futures at €67.50 per bottle ex-négociant, up 17.2 percent on the 2021 release price of €57.60. Leading U.S. retailers are offering the St.-Julien fourth growth at $97 per bottle, $1,164 per case, up just 9 percent on the 2021. That’s well below the 2018 and 2019 vintages.
May 11: Château Léoville Barton
The Barton family released their futures today. Château Léoville Barton's 2022 futures debuted at €64.20 per bottle ex-négociant, up 15.1 percent on the 2021 release. U.S. retailers are offering the wine at $90 per bottle, or $1,080 per case. That's below many recent past vintages of the St.-Julien estate, including the 2016, which was Wine Spectator's 2019 Wine of the Year.
![Cheval-Blanc]](https://mshanken.imgix.net/wso/bolt/2023-05/ns_cheval051023_1600.jpg?auto=compress,format,&sharp=5&vib=20&q=70&w=320 320w,https://mshanken.imgix.net/wso/bolt/2023-05/ns_cheval051023_1600.jpg?auto=compress,format,&sharp=5&vib=20&q=70&w=320 640w,https://mshanken.imgix.net/wso/bolt/2023-05/ns_cheval051023_1600.jpg?auto=compress,format,&sharp=5&vib=20&q=70&w=384 768w,https://mshanken.imgix.net/wso/bolt/2023-05/ns_cheval051023_1600.jpg?auto=compress,format,&sharp=5&vib=20&q=70&w=828 828w)
May 9: Cheval-Blanc Starts the Race
Two top estates of St.-Emilion kickstarted the campaign and went big. Château Cheval-Blanc released a tranche of 2022 futures at €470 per bottle ex-négociant, up 20.5 percent on the 2021 opening price of €390. That price is below the 2019 price, but above the other four recent vintages. Leading U.S. retailers are offering the futures for $667 a bottle, or $8,004 per case. That’s slightly higher than the current retail price of the 2020, but well below current retail prices of the 2018 and 2019. The team at Cheval-Blanc says they are releasing about two-thirds of the 2022s as futures and holding back the remaining inventory until it's “drinkable”.
Château Angélus released its 2022 futures at €350 per bottle ex-négociant, up a whopping 32 percent on 2021’s opening price of €265 per bottle. The wine is available at top U.S. retailers for $451 a bottle, $5,412 a case, above current retail prices for the past four vintages. The 2022 release price is also the most expensive Angélus release of the past 22 vintages, but the owners have been consistently working to shift the winery into an elite price range in recent years.
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