2003 Bordeaux Revisited

Have you ever wished you could go back in time and buy first growth Bordeaux at the release price? You may just get your wish with the 2003 Haut Brion.

At auction, the 2003 Haut Brion will cost you around $280/bottle including buyer's premium. Of course, at any given auction, prices may be higher. Patience may be required to buy at the average price, especially if you are buying a lot of 12 in an original wooden case. Retail prices can be highly variable, but a wine-searcher check shows three California retail sources with prices at $280 or under.

The fall 2006 release price for the 2003 Haut Brion (not the summer 2004 futures price) was around $325/bottle, according to both eRobertParker.com and Vinfolio's WinePrices.com. While the 2003 Mouton and 2003 Margaux are also showing price weakness, only the Haut Brion is actually trading below its release price.

Release and current prices of all 2003 first growth Bordeaux follow:

Wine..........Release/Current

Lafite.........$400/ $1100
Mouton.... $275/$312
Margaux... $375/$538
Latour.......$400/$766

Haut Brion $325/$280

While all investment grade wines may in the middle of a price correction, the 2003 Haut Brion may already be near its bottom.

2003 Montrose vs 2003 Cos D'Estournel

If you have these both in your cellar, and you want to know what to sell and what to drink, my suggestion is that you sell the Cos and drink the Montrose.

Both wines are about $240 retail and $170 at auction these days +/- the usual $30/bottle for condition, provenance, owc, etc. The Montrose is about $20 more than the Cos in both markets, and it is worth the extra.

In a side by side comparison, the Cos was more cedary and was itself a great wine, which needed several hours to open up. The Montrose had a richness of mid-palate that only the best wines ever achieve. It was not Californiazed, but to be fair it was showing more fruit to go with its obvious glycerin.

Overall, both are great wines, but the Montrose requires no intellecualization or justification. Just pour it and let your guests react. Yes, it is still very young and will improve, but you won't feel the need to point that out. It speaks for itself.

In the same tasting, I also drank the 2000 Montrose, and it was not even close to the 2003. I'd sell that one too.