First Growth prices rise 700% in 25 years

What price quality ? In Bordeaux it would seem that the reason that the release prices for the First Growths increased by 703% between 1986 and 2012 is that they have been able to invest in quality. At least this is the view of Christian Seely, MD of AXA, who own Pichon-Baron who states that returns for producers are correlated with wine quality. In other words the First Growths who already had deep pockets and great terroir have simply been able to invest more money in their vineyards and wineries than the rest of Bordeaux. Witness the new modern state of the art cellars at Margaux designed by the world-renowned architect, Lord Norman Foster, which will have a new laboratory and a glass-walled tasting room. This has also been coupled with a rise in global demand from new consumers who are only interested in drinking the best wines on offer. To make their wine the best yields have been drastically reduced leading to a fall in supply and ever more pressure on the price. Using a football analogy the gap between the First Growths (The Premiership) and the Super Seconds (The Championship) is wide but it is really up to the Bordelais to attract new investment to improve bulk Bordeaux (The Conference) which in comparison has only risen 25% in the same time period.