The finding in 'An Analysis of Bordeaux Wine Ratings 1970-2005' will make late Baron Philippe de Rothschild turn in his grave and his daughter Baroness Philippine turn cabernet red with anger. The only change made since the 1855 Classification came into being has been the up-gradation of this original Second Growth to First Growth in 1973 after 50 years of campaigning and hard work by her late father.
The baron is still remembered as the one who coined the phrase, 'First I am, Second I disdain, Mouton I am' before the classification up-gradation to 'First I am, Second I was, Mouton I will be.'
'It is widely accepted today that in any given year there are châteaux that do not produce at the level of their ranking,' the report observes.
The study would change the categories of more than half the 61 classified estates. It also recommends the Inclusion of top Pomerol and St. Emilion properties to make the classification more relevant in today's world. These right bank regions were not considered for rankings in 1855. St. Emilion had started a system of rating its own wineries in 1959. Recently, a court had declared the system invalid due to some procedural inconsistencies.
The 1855 classification rated chateaux in Medoc and Graves, giving a 5-tier hierarchy by a group of influential brokers, as a prelude for the Grand Exposition of Bordeaux in 1855. The rankings were based on the reputation and market price of the wine estates.
Cornell's recommendations are based on an analysis of common ratings of 1970-2005 wines by the U.S. critics Robert Parker of Wine Advocate, Steven Tanzer of International Wine Cellar and James Laube of Wine Spectator.
Researchers' database was limited to 399 wines from 44 of the 61 classified Bordeaux châteaux. Seventeen estates, including Haut-Brion and Margaux – were omitted because common ratings could not be obtained.
The changes
Based on the rating performance of the wines in the data set in the study, a number of châteaux would be rated higher in the 2008 Classification than 1855.
* Château Leoville-Las-Cases (Saint-Julien) advances to the first growth from the second,
* Château Palmer (Cantenac-Margaux) and Château Calon-Ségur (Saint-Estephe) also advance, from the third growth to the second,
* Château Lynch-Bages (Pauillac) and Château Ponte Canet (Pauillac) make large jumps from the fifth growth to the second.
* Also rising are Château Grand-Puy-Lacoste (Pauillac), Château Clerc-Milon
(Pauillac), and Château d'Armailhac (Pauillac), from the fifth to the third growth
* Château Branaire-Ducru (Saint-Julien), advancing from the fourth to the third
Growth
* Château Haut- Batailley (Pauillac) and Château Batailley (Pauillac), which rise
from the fifth to fourth growths
Limitations
Although the data on prices is the vary basis of suggesting the above changes, the study realises the theoretical limitations of the recommendations but emphasises that the market is already considering these changes, as indicated by the relative prices of various châteaux. For example, Leoville-Las-Cases sells at over three times the average price of the other 1855 second growths, making it a relative bargain.
Conclusions
Study suggests that 23 of the 48 classified growths could be misclassified. and consumers should be wary of relying on it for their wine purchasing decisions.
Château Leoville-Las-Cases (Saint-Julien), which rates a revision to first growth, already sells at over three times the average price of the other 1855 second growths-based on data collected in early May 2008 for the 2005 vintage.
Even at this premium, however, Château Leoville-Las-Cases (Saint-
Julien) is only about one-third as expensive as the 1855
first-growths and should be viewed as a relative bargain.
Furthermore, as of early June 2005 the average price
of standard bottles of Château Lynch-Bages (Pauillac) and
Château Pontet-Canet (Pauillac)—the châteaux recommended by the findings
to be moved from the fifth to the second growth—was
2.6 times higher than the average price of stand standard bottles of
the other 1855 fifth-growth châteaux.
Subhash Arora
For Proposed Changes in the 1855 Classification Click Here |