Interesting article in the locl Sud-Ouest newspaper of April 4th. Unfortunately, I can’t post the link because it only works for subscribers. So here are the salient points:
Nearly 25% of the 82 grands crus classées in Saint Emilion have changed hands since the 2012 classification (still not definitive because of being challenged in the courts…).
The newspaper explains that this is due to several factors. Increased international demand for luxury goods plays a major role, as does long-term return for institutional investors. French inheritance laws make it difficult for families to continue holding on to châteaux and the small size of estates makes it difficult to produce enough wine to establish a brand and satisfy world demand. Indeed, the classified growths of Saint-Emilion are much smaller than those in the Médoc, and it makes sense to reach a critical mass.
Owners must wait for the next classification in 2022 to request an extension to their estates (frequently by absorbing another grand cru classé), so there is much jockeying going on at the moment.
Who is buying?
The answer is foreigners, wealthy French buyers, and other great growths.Here is the list of the 18 châteaux to have changed hands since 2012 Château
L’Arrosée – Domaine Clarence Dillion (Haut Brion, La Mission Haut Brion)
Bellefont Belcier – Vignobles K (Chinese)
Berliquet – Wertheimer family (Chanel)
Chauvin – Sylvie Cazes (Lynch Bages, etc.)
La Clotte – Vauthier family (Ausone, etc.)
Côte de Baleau – Cuvelier family (Clos Fourtet, Poujeaux)
Faurie de Souchard – Dassault (Château Dassault and jet aircraft firm)
Fonroque – Jubert Guillard (insurance)
Grandes Murailles – Cuvelier family (Clos Fourtet, Poujeaux)
Clos le Madeleine – Jean-Pierre Moueix (Pétrus et al)
Monbousquet – CARMF (mutual insurance firm)
Moulin du Cadet – Lefévère family (Château Sansonnet)
Petit Faurie de Soutard – AG2R La Mondiale (insurance – Châteaux Soutard and Larmande)
Le Prieuré Artémis – (François Pinault – Château Latour)
Ripeau – Grégoire family
Clos Saint-Martin – Sophie Fourcade
Troplong Mondot SCOR (insurance)