Domaine d’Auvenay is one-third of the hallowed trinity of Domaines that form the empire of Leroy and alongside Domaine Leroy and Maison Leroy, the wines produced at Domaine d’Auvenay are among the most revered in all of Burgundy.
The estate was the first acquisition of the Leroy family and as such holds a special place in the heart of Madame Lalou Bize-Leroy who, alongside her sister, inherited the Domaine from her father in 1980. A decade later she became the sole proprietor of the Domaine. Since then, the wines produced there have gone from strength to strength and demand from collectors and speculators alike has gone stratospheric. This unwavering demand causes considerable stress on supply as production is minuscule; the entire Domaine consists of under four hectares, spread over sixteen different appellations. Restricting supply further are the tiny yields achieved in the vineyards which are treated with the same viticultural practices as the legendary vines found at Domaine Leroy. Low yields from already tiny parcels, coupled with enormous demand, result in considerable pricing for those lucky enough to secure any. However, the prices are more than justified when looking at the returns seen in recent years.
As a region, investable Burgundy has enjoyed a prosperous time in recent years, spurred on further by the bull run fine wine overall is currently enjoying and current macro events. The Burgundy 150 index from Liv-Ex is up 25.36% in 2022 alone. As such, the wines at the apex of the region are experiencing an increasingly intense level of demand and prices are adjusting accordingly. It is therefore a wiser time than ever before to look very closely when prime investable Burgundy becomes available. The parcel of d’Auvenay wines below presents just that type of opportunity.
|DOMAINE D’AUVENAY||VINTAGE||UNIT||QTY||PRICE (IB)|
|Auxey-Duresses, La Macabree||2009||1x75cl||4||£6,500|
|Batard-Montrachet Grand Cru||2014||1x75cl||1||£22,000|
|Chevalier-Montrachet Grand Cru||2007||1x75cl||1||£25,000|
|Meursault 1er Cru, Les Narvaux||2009||1x75cl||2||£8,000|
|Puligny-Montrachet 1er Cru, Les Folatieres||1999||1x75cl||2||£8,000|
|Puligny-Montrachet 1er Cru, Les Enseigneres||2014||1x75cl||1||£30,000|
Deeper analysis on the sweetheart Domaine of the Leroy stable
Burgundian estates already tend to be on the lower end of production and d’Auvenay is minuscule in terms of Burgundy. The annual volume is rumoured to be just 10,000 bottles across all sixteen appellations. To put this in context, Domaine de la Romanee-Conti is considered a low-volume producer yet still produces around 85,000 bottles in a vintage across their stable; their holdings in Echezeaux alone eclipse the entire d’Auvenay vineyards!
The wines of Domaine d’Auvenay possess all the components required for a truly spectacular investment; a near-mythical reputation, tiny production, unwavering demand and ownership from the leading name in Burgundy. This has resulted in amplified returns over the recent run Burgundy has enjoyed. A rebase of the parcel available today can be seen below.
H2 of 2021 and beyond has been a particularly fruitful time for the wines of d’Auvenay, on average the parcel on offer today has increased 210%. This overshadows the stellar performance observed in the Burgundy 150 index from Liv-Ex which has appreciated 64% over the same term. Whilst the performance observed in the broader basket isn’t quite as impressive, it is a testament to the health of the Burgundy market as a whole.
All indicators seem to be pointing to a recession on the horizon, but the low correlation fine wine has historically demonstrated to traditional markets suggests a continuation of the momentum Burgundy is currently demonstrating. The velocity of Domaine d’Auvenay is clear and as inflation continues to soar, and a seemingly endless string of macro events cause increasing turbulence in traditional markets, more and more people are turning to fine wine as an investment asset. As such, the wines on offer today look like a no-brainer for speculators and those looking to diversify their holdings.
There are few people in wine more revered than Madame Lalou Bize-Leroy. She is truly the winemaker at the apex of the region and enjoys the moniker ‘The Queen of Burgundy’. She has devoted her life to the pursuit of Burgundian perfection and her winemaking seems to improve with every release. She is still the driving force behind her Domaines at the incredible age of 90 and with no successor waiting in the wings, it is unclear how many more vintages Domaine d’Auvenay will be producing of this calibre. This makes the case for stocking up now even more compelling, as the prices of her wines have the potential to go parabolic in the future.