Annual Bordeaux Report The 2011 Vintage web: jjbuckley.com phone: 888.85.wines (888.859.4637) email: [email protected] twitter: @jjbuckleywines 7305 edgewater drive, suite d | oakland, ca 94621 JJ BUCKLEY’S 2011 BORDEAUX REPORT Published April 26th, 2012 Authors Shaun Bishop Chuck Hayward Senior Editor Paige Granback Associate Editors Deborah Adeyanju Alexandra Fondren Contributing Writers Geoffrey Binder Andrew Frieden Cory Gowan Roland Hankerson Chuck Hayward Devon Magee Neil Mechanic Alex Lallos Jeff Loo Alex Shaw John Sweeney Eddie Wolowski Senior Photographer Hardy Wallace Additional photography supplied by JJ Buckley staff. All rights reserved. For questions or comments, please email: [email protected] 2 TABLE OF CONTENTS The JJB Advantage 4 2011 Tasting Notes 25-85 2011 Spotlight Articles 86-98 Pomerol 86-88 Left Bank 25-45 2011 Bordeaux Picks 5-8 Sauternes 89-94 Margaux 25-28 Top Reds 5 Bordeaux Blanc 95-98 Pauillac 29-31 Top Whites & Sauternes 6 Pessac-Leognan & Graves 32-36 Stories From the Road 99-116 St. Estephe 37-39 The Year in Bordeaux 7-16 Additional photos 117-119 St. Julien 40-42 Buying & Investing 7 Medoc & Haut-Medoc 43-45 About This Report 120 Vintage Comparison 8 Market & Pricing 9-10 Right Bank 46-73 Deposit-Only Payment 11 Pomerol 46-53 Weather Data 12 Lalande-de-Pomerol 54-55 Weather in 2011 13 St. Emilion 56-68 Harvest Overview 14-19 Côtes de Bordeaux 69 Côtes de Castillon 70-71 En Primeurs Week 2011 20-24 Fronsac 72 Why We Go 20 Other Right Bank 73 Tasting Challenges 21 What We Look For 22 Bordeaux Superieur 74-75 How It Works 23 Bordeaux Blanc 76-81 Final Observations 24 Barsac & Sauternes 82-85 3 THE JJB ADVANTAGE Our Commitment To You We want you to know that before you knowledge and experience with the make a decision to buy these wines, that vintage anywhere else in the country. you can count on the following: JJ Buckley offers on-site storage as well As a licensed importer, wholesaler and as access to resale services. Please con- retailer, JJ Buckley buys directly from tact one of our Fine Wine Specialists by Bordeaux, bypassing third party whole- phone for more information. salers and importers. This gives us and you a significant pricing advantage. Provenance is guaranteed and all wines are shipped in air-conditioned contain- ers to our climate-controlled facility, ensuring they remain in perfect condi- tion every point of the way. In order to secure large allocations of the most sought after and highly rated wines, JJ Buckley has worked hard over the years to build strong relationships with the most respected negociants and other suppliers. We are in Bordeaux at least twice a year to ensure we stay in- formed and well connected. This gives us unparalleled access to a huge selec- tion of the finest wines at every level Chateau Palmer, April 2012 and at the best prices. Our large and experienced sales team has a broad and deep understanding of the vintage. Please call, email, or stop by to discuss any or all wines with our sales team. Over the weeks leading up to this report, they have analyzed, lived, breathed, practically bathed in the vin- tage. No question will go unanswered. You will not find such a depth of Chateau Latour, April 2012 4 2011 BORDEAUX PICKS Top Red Wines of the Vintage Right Bank Lafleur (97-99) L'Eglise Clinet (97-99) Vieux Chateau Certan (97-99) Le Pin (96-98) Clinet (95-97) Les Asteries (95-97) Pavie (95-97) Trotanoy (95-97) Cheval Blanc (94-96) Left Bank Margaux (96-98) Ducru-Beaucaillou (95-97) Lafite-Rothschild (95-97) Pontet-Canet (95-97) Calon Segur (94-96) Liber-Pater (94-96) Montrose (94-96) Mouton-Rothschild (94-96) Palmer (94-96) Pape-Clement (94-96) 5 2011 BORDEAUX PICKS Top White & Sweet Wines of the Vintage Bordeaux Blanc Haut Brion Blanc (97-99) Malartic-Lagraviere Blanc (96-98) La Mission Haut Brion Blanc (95-97) Pape-Clement Blanc (95-97) Domaine de Chevalier (94-96) Pavillon Blanc du Chateau Margaux (94-96) Smith-Haut-Lafitte Blanc (94-96) Aile d'Argent (93-95) Latour-Martillac (93-95) La Clarte de Haut Brion (92-94) Sauternes d'Yquem (97-99) Climens (96-98) Doisy-Daene ‘L’Extravagant’ (96-98) Coutet (95-97) Guiraud (95-97) de Fargues (94-96) Sigalas-Rabaud (94-96) de Myrat (93-95) Doisy-Daene (93-95) Rieussec (93-95) 6 THE YEAR IN BORDEAUX: 2011 The Quest for Balance Buying the 2011s the selection process. And for the Cha- The 2011s arrive into a market still rid- teau owner, negociant, or retailer, this ing the high provided by two of the naturally means a significant drop in greatest vintages Bordeaux has ever pricing. There is simply no alternative. produced—a rare thing, indeed, and At the end of the day, the consumer one witnessed only a few times a centu- should be rewarded for purchasing a ry. Perhaps even more importantly, they vintage two years in advance of receiv- are being presented in the aftermath of ing the product. unprecedented price increases, the likes To better understand the value proposi- of which had never been seen. 2009 and tion of the current vintage, it helps to 2010 set the bar almost impossibly high. have some perspective by taking a look Yet, even before anyone knew what back at other vintages of similar quality. kind of vintage 2011 would turn out to The price of the current vintage, in this be, most of the chateaux owners and case 2011, needs to be at least competi- negociants agreed the market had nei- tive with current market prices for vin- ther the emotional, nor the financial, tages of similar quality. Preferably, fortitude to withstand another “vintage priced even lower. of the century”. The cellar at Beausejour-Duffau, Apr ‘12 Now that 2011 has been presented to the majority of critics and participating trade, the old saying “be careful what you wish for” has never been more ap- ropos. While the vintage has turned out to be more successful than the initial rumors, 2011 represents a return to sta- tus quo. This is a good Bordeaux vin- tage, but after the runaway success of 2009 and 2010, a recalibration is in order on the part of the buyer and seller alike. For the consumer, this means proceed- ing with caution and using discretion in Some of the team outside Chateau Petrus, April 2012. 7 THE YEAR IN BORDEAUX: 2011 The Quest for Balance 2011 - Where does it fit? There are some real gems to be had in 2010’s, but they will fall in a very happy 2011 is a formidable vintage, but cer- 2011, wines of excellent quality, and place. And as many winemakers noted, tainly not one that is on par with likes of quite a few we’d even label exceptional. these are wines that could not have been 2000, 2005, 2009, or 2010. Does that There are plenty of clunkers as well, but made 20 years ago. The improvements mean that one should dismiss it? Of what really impressed us was the drink- in Bordeaux's cellars and vineyards over course not. able and approachable style of the many the past few decades have ensured that very good wines that we encountered. wineries today make above average 2011 has its place and, for the finest These speak to their appellations, and wines even in “regular” years. wines, a window of drinking pleasure will reward both near-term drinking that sits right between 2009 and 2010. and short-term cellaring. The top wines If compared to another vintage, 2011 is The 2009s are sumptuous, lush with are all about balance—made from even- somewhat similar to 2001. It, too, fol- fruit, and show terrific quality across all ly ripe grapes and with the right lowed a great vintage (2000), and if you appellations and price points. While amount of extraction and tannin. These ask anybody in Bordeaux what they are they will certainly age gracefully for wines are both charming and elegant. drinking and enjoying today, they will several years past the 2011’s, many of tell you 2001. the wines will be enjoyable on release. While 2010 produced some long-lived 2010’s, on the other hand, have more wines, 2011 is a vintage of mostly 5 to 15 structure, expression of terroir, terrific year wines. They will not be as ap- balance, and will age for decades. How- proachable on release as the 2009’s and ever, they will take some time to mature they will not be as long lived as the and thus their drinking window is much further out. The 2011’s fall right in between. Most will need a few years after release to come together, and to allow the tannins to mellow. But they will not be long- lived wines, as there is simply not enough structure to make for interesting cellaring. Thus, the consumer will enjoy the sumptuous 2009’s first, then the charming 2011’s, followed by the great 2010’s. Cheval Blanc, April 2012 8 THE YEAR IN BORDEAUX: 2011 The Quest for Balance Current Market & Pricing 2011 also produced some excellent Last, the world financial markets remain Justifiably or not, pricing for the past white wines. This overlooked category unstable, with much volatility and un- two vintages has been some of the high- represents a true bargain in comparison certainty and the top end of the Bor- est on record for many chateaux.