The day after Chateau Lafite Rothschild released its 2024 en primeur on the market on April 29, offers were coming in from all over the world to my email. One caught my eye. It was from a Hong Kong merchant selling the wine, which is still aging in barrel, for 336 euros. That’s essentially selling the wine just a few euros above cost.
“That’s aggressive pricing,” a Bordeaux negociant said by email after I sent him a copy.
Whatever the amount, the 2024 Lafite was about one-third less than the release price for the chateau’s excellent 2023 en primeur and half the price of the heralded 2022, which was released in mid-2023. The price drop clearly reflects the overall quality of the vintage, which produced a few superb wines, even unicorns, but in general was a weak and challenging year at best. The difficulty in grape growing in 2024 came from the very wet weather and intense bouts with mildew, as well as more rain and botrytis during the harvest. Some winemakers called it a “nightmare” vintage. But Lafite sold because the price hit a sweet spot in the market, and it’s also the cheapest Lafite in a decade.