A survey was conducted in order to determine the reputation of various French wines. The survey interviewed more than 6,000 consumers across seven European countries. Some wine regions, like Bordeaux, were found to have a very high reputation. This great reputation attracts many new consumers, and as a result members can increase their prices due to the perceived high quality of the wines. A great reputation is also thought to provide incentives for wine agents to maximize their efforts, which is great for the entire brand. Additionally, regional reputations were found to encourage cooperation among the component wineries for price fixing, producing high quality products and erecting barriers to competition.

The study discovered that the leaders accrue significant benefits from the Bordeaux brand. This would include Saint-Emilion, Bordeaux Supérieur, Sauternes, and Médoc. On the other hand, Graves, Margaux, Premières Côtes de Bordeaux, Entre-deux-Mers, and Côtes de Bourg seemed to derive little benefit from being part of the group. It is posited that this was due to the last group not having a strong enough association with the Bordeaux brand. This was especially true for Entre-deux-Mers and Côtes de Bourg, which were found to have a more modest reputation than some of the other Bordeaux wines. The AAWE suggests that specific marketing efforts be used to strengthen the link between these individual appellations and the Bordeaux brand within the consumer’s mind.

The working report concludes by indicating that further research still needs to be done. Thankfully, the fascinating field of wine reputations, their effect on group brands, and the individual members of the group, is at the forefront of modern research. Further studies promise to add to the ideas presented in this working paper.

Some of the most famous of the world’s great wines are made within the Bordeaux region of France; with the Saint-Emilion, Medoc, Pomerol and Graves sub-regions producing some of the best fine wines. With more than 10,000 wine growers and 57 appellations Bordeaux has some 9,000 wine-producing chateaux which produce 660 million bottles of really excellent wine every year.

The most revered (and expensive) Bordeaux wines comprise the five “first growths”: Lafite-Rothschild, Margaux, Latour, Haut-Brion and Mouton-Rothschild as well as other top-level investment calibre wines such as Petrus and Cheval Blanc.

If you’re buying wine as an investment, it is advisable to consult a reputable advisory company. But here’s a brief summary of some of the best recent vintages of the Bordeaux sub-regions that would have historically yielded good returns:

1. 1982: Considered an “exceptional” vintage. Go for wines from St. Julien/Pauillac or Pomerol sub-regions.

2. 2005: Considered by many the vintage of a lifetime across all of Bordeaux, although Robert Parker’s scores do not necessarilty reflect that.

3. 1986: All regions had good yields.

4. 2000: St. Julien/Pauillac, Graves and St. Emillion should be considered, then Margaux and Pomerol. This was one of the best vintages in the last decade and while ready to be drunk, can improve further.

5. 2009: Three massive questions will dominate this springs Bordeaux en primeur campaign: will this turn out to be the spectacular vintage that most are predicting? With increased demand from the far East confirmed, will the Bordeaux negociants (those who set pricing) use this as an opportunity to hugely increase release prices after 2008’s (mostly sensible) pricing structure? Finally (and probably most importantly): what will the hugely influential Robert Parker think?

Generally, even among the best vintages, the prices of individual wines will rise at a different rate. Furthermore, even within a single wine, price will generally vary a great deal across vintages…

One fact remains true – the longer one is able to hold onto one’s selections, the greater the chance of a good return; most Bordeaux wines are constructed in such a way as to improve greatly over a period of time, usually up to 50 years.