Haut-Bailly 2018 New Release (and the 2016) are Both Investment Buys - These two vintages are the ones to own on a price / average score basis. Upside of 20% over 2 years.
Why Buy This?
* Haut-Bailly has been the 'up and comer' of Pessac since the 2009 / 2010 releases opened the world's eyes the quality that this estate can now produce. The 2009 achieved a (now) average score of 96, which has only been beaten by the 2016 and 2018.
* In 2016, serious critics converged on a view that Hailly-Bailly had made it to the very top table of Bordeaux (in quality terms, if not yet in price) with an average score of 97 points.
* Unlike wines like Pape Clement, which has a cult following but also divides broader opinion, Haut-Bailly is one of those wines that everyone just .... likes. Even the label has a kind of unpretentious appeal which our clients all over the world are attracted to.
* A potential 100 point score from Jeb Dunnuck is also a wild card for the Haut-Bailly 2018. But even without that both the 2018 and 2016 look undervalued on relative value analysis (see graph).
* Priced only around where they 2010 and 2015 (lesser wines) are currently trading, we see 20% upside to the £600-£625 (6x75cl) level over two years for both the 2016 and 2018, and hence they are smart additions to a portfolio at these levels.See the Research Note
|Wine||Haut-Bailly 2018 (6x75cl)|
|Price||In Bond: £580.50|
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