I love a good deal. Getting something for less than it’s worth makes me happy. I think of myself as a pragmatist, but in reality, I’m just cheap. It’s a genetic thing on my mom’s side. She loves sales. My grandpa did too.
I’m not a very materialistic person. My winter jacket? Same one I’ve had for 10 years. The pair of black Timberlands I wore backpacking through Europe in 1999? Still in my closet in perfectly good shape. Like I said…just cheap.
When it comes to wine, it’s really no different. But here it's called “good value” because “cheap” cheapens the whole experience, and wine is supposed to be luxurious. The past 20 years I’ve spent seeking out these deals. It’s what I do best.
I drive my sales reps nuts. The wines are never quite good enough or cheap enough. My enthusiasm for bargains doesn’t stop there, because sharing my spoils with customers makes me happier than finding the opportunities.
Value is Value, No Matter the Price Tag
Let’s take a moment to clarify something. Value exists at every price point. I don’t want something just because it’s cheap—I want it to overdeliver. I’m a sucker for a $12 banger from Argentina as much as the next guy, but a $40 Brunello that drinks like it’s $80? Hold my beer.
Why Bordeaux, Why Now?
As I write this mini-manifesto, I’m getting ready to visit Bordeaux for the third time in three years. I’ll be tasting the 2024s during En Primeur week, where all the top producers invite the trade into their Chateaux to taste barrel samples of the previous vintage. In 2023 we tasted the sensational ‘22s. 2024, the classic ’23s. This year we’ll taste the precarious ‘24s.
Seven of the last 10 vintages fall between “Great” and “Supercalifragilistic”. And yet, even with an oversupply of good juice, the Bordelais have continued to push prices up. Which, not surprisingly, has backfired. The negative news pours in daily—Bordeaux lacks good value, it’s not cool anymore, younger drinkers aren’t interested.
I call B.S. I believe Bordeaux is still one of, if not the best, wine regions in the world for great value. If you’re not buying these wines, you’re missing out.
Not all wine regions are known for offering great value. Like most markets, the laws of supply and demand influence the price. A “hot” wine region with limited supply is going to see prices climb into the stratosphere, much like we’ve seen with Burgundy and Champagne over the past few years. Bordeaux, however, is facing the opposite problem.
Here’s what’s really going on: Traditional Bordeaux drinkers are aging out. Collectors are sitting on the sidelines complaining prices are too high while younger drinkers are off chasing the next cool thing in wine. Global wine consumption is down overall as consumers are reaching for quality over quantity. Bordeaux just makes too much damn wine.
There are 279,229 acres under vine in Bordeaux. The government is literally paying producers to pull up vines to stabilize prices. No wonder the news is so negative. But while the headlines scream “Bordeaux is in trouble,” I see something different. Great wines hiding in plain sight.
Why Post-Modern Bordeaux, (Specifically 2022), is Worth Your Time
1. You Don’t Have to Wait 20 Years to Drink It
If I had a nickel for every time I heard someone say “I’ll be dead before the wines are ready to drink,” I’d have a lot of nickels. But Post-Modern Bordeaux, specifically the 2022 vintage, are so incredibly fresh, fruit-forward, and balanced with ripe tannins that many are ready to drink upon release. Don’t get me wrong, they’ve got the structure needed to survive the long haul, but they are also absolutely gorgeous right now.
2. The Critics Agree (For Once)
I’ve been skeptical of wine critics in the past. But when they all start saying the same thing, it’s worth paying attention to: Bordeaux is making better wine than ever. Technology and deep pockets at the classified level have helped ensure top quality across the board. I still trust my own palate above anyone else’s, but when critics are arriving at the same conclusion, it’s probably not just a happy accident.
3. Bordeaux Dominates in Value (And I Have Receipts to Prove It)
I ran a quick search on a reputable wine retailer’s website for red wines under $50 that scored a minimum of 95 points from at least one major critic.
Here’s what came up:
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Bordeaux: 143 out of 1222 (11.7%)
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Tuscany: 28 out of 561 (4.9%)
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California: 28 out of 1727 (1.6%)
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Cuyo (Argentina): 16 out of 346 (4.6%)
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Piedmont: 10 out of 501 (1.99%)
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La Rioja: 10 out of 167 (5.98%)
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Burgundy: 4 out of 537 (0.7%)
The numbers don’t lie. Using these metrics, Bordeaux is the undisputed champion of value among the world’s fine wine regions. Yes, it’s somewhat anecdotal and not all encompassing, but it’s enlightening. I have first-hand experience trying to find value in California and Burgundy. Let me tell you, it ain’t easy.
4. Long-Term Appreciation
Bordeaux has been the most collected and traded fine wine region for the past 50 years. Old-timers talk about scoring First Growths (Lafite, Latour, Margaux) in the 1980s for as low as $50 a bottle. Today, those same wines sell for over $1000. Now, the argument against investing in Bordeaux today is that most “blue chip” bottlings are being released north of $500, leaving little room for appreciation, especially in the short term. But there is, however, a treasure trove of wine below the “blue chip” level that are close in quality, sell for a fraction of the price, and simply put, are being overlooked. Producers like Brane-Cantenac, Haut-Bages Liberal, and La Gaffeliere made wines in 2022 that are scoring as high as First Growths but selling for under $100. These are just a few examples. With the extreme drinkability of 2022, these wines will disappear faster than a traditional vintage and that means one thing: higher prices down the road.
Final Thoughts
I opened seven different 2022 Bordeaux this week, all hitting the shelf between $23 and $35. All of them scored well with the critics. Not a stinker in the bunch.
Well… almost. Chateau Meyney Saint-Estephe Grand Vin 2022 was a bit tight. A bit clunky. A bit more austere. It just wasn’t exhibiting ripe fruit like the others. Day two? Still off. And by day three, I nearly gave up on it. It seemed to have lost its fruit entirely. But, day four: magic. The intense baker's chocolate note that stood alone the night before was now wrapped in fresh, ripe, black and blue fruit. It had finally come around. It brought me joy. I paired it with Chinese pepper steak. It was really freakin’ good. Some might just call it an “Exceptional Value”.
Well, there you have it. That’s my 2 cents, which is about as much as I’m willing to spend.