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Paul Jaboulet Ainé
Over the past few years, the Rhone valley has been edging Bordeaux out of favour as the people’s choice when it comes to investing in French wine. More to the point, there are several wines that far overshadow their Bordeaux (and even Burgundy) siblings and Paul Jaboulet Ainé is just one of those wines.
Swiss Financier Jean-Jacques Frey to the rescue
A colourful family history puts Paul Jaboulet Ainé very much on top of the Rhone valley wine podium. Founded in 1834, it is one of the oldest vineyards in the region, concentrating on producing top-notch Hermitage and Crozes-Hermitage wines. However, the sale of the estate to the Frey family (also owners of Château La Lagune in Bordeaux and Château de Corton Andre in Burgundy) in 2006 saw expansion, with the acquisition of about 11 hectares in Chateauneuf du Pape. In total, they own today about 115 hectares all over the region.
Massive investment to go back to tradition
The buyout of Paul Jaboulet Aine by Frey was excellent news for French wine lovers. The nineties and early noughties had not been good to the vineyard. Prices had risen considerably, quality had not followed suit, and Paul Jaboulet was considered too big for its oenological boots. So the arrival of Caroline Frey was good news all around (despite previous assurances, Laurent Jaboulet was let go when the transaction was finalised). The first thing she did was turn the wine over to organic farming; full certification was granted in 2016, ten years after her arrival. Consulting oenologist Denis Dubourdieu was also hired and together, they quickly changed the in-house team. Frédéric Mairesse was brought in as director and winemaker Jacques Desvernois was hired to run the day-to-day operations.
1961 Hermitage La Chapelle one of the most sought after wines in the world
These changes have been nothing but positive, and once again, Paul Jaboulet Ainé is flying the flag not only for the Rhone valley but for all French wine. Surely the jewel in their crown would be Hermitage La Chapelle - destined for long ageing (at least ten years), this is undoubtedly one of the best red wines in the world. The iconic 1961 vintage has 100-point scores from Robert Parker, Wine Spectator and a flawless 20 from Jancis Robinson. Overall, across all vintages, it rates a 94/100, and is one of the most searched-for wines of any region. Almost unfindable, if you do manage to get your hands on a bottle expect to pay through the nose: Q1 2019 estimates were averaging a whopping €25,000 a bottle.
Notable facts and vintages
- In early April 2019, a four magnum lot of 1985 Paul Jaboulet Aine Hermitage La Chapelle sold for approximately €1,500 at auction/Christie’s NY - nearly 60% above the upper estimate.
- In Q1 2019 on Liv-ex, 2017 Paul Jaboulet Aine Hermitage La Chapelle was priced narrowly above the previous vintage’s release price and prices are already up +22% according to wine-searcher. With accolades for 2017 (Wine Advocate’s Joe Czerwinski gave a barrel range of 97-99 points), investors should consider themselves most fortunate to get their hands on this promising performer.
- Paul Jaboulet Aine La Chapelle Blanc both 2010 and 2012 received the same aggregate score of 93, and yet 2012’s performance is well below that of 2010. In 2014, Jebb Dunnuck noted “...drink bottles over the following 10-15 years or more.” which suggests investment potential with average price sitting nearly 40% below 2010’s average price in Q2 2019.