Hospice de Beaune wine prices: change over 10 years

Hospice de Beaune wine prices: change over 10 years

Every third weekend in November, the Hospices de Beaune Wine Sale sets a closely watched barometer of Burgundy wine prices. The auction price signal (the hammer price per 228L barrel) then influences primeur transactions, the offers from trading houses, and the positioning of many vintages on the market. This guide offers: 1) a summary of average prices per barrel over the last ten editions (2015-2024); 2) a numerical zoom on 2024 (averages, volumes, total sold, Presidents’ barrel); 3) the factors that explain these variations (vintage, quantity, red/white mix, market climate).

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Understanding the Hospices’ "Price": Piece, Total, Fees

At the Hospices, the reference unit is the piece (a 228 L barrel), or approximately 288 75 cl bottles. The published figures distinguish: the average price per piece (at hammer, excluding fees), the total sold (often at hammer, sometimes with or without the "Pièce des Présidents"), and the number of pieces (bid, therefore quantity). Comparisons from one source to another vary depending on the scope chosen (including or excluding the Pièces des Présidents, buyer’s fees, marc & fine, etc.). For a consistent reading, the averages below are based on the series consolidated by Albert Bichot/Sotheby’s (at hammer), followed by a 2024 focus comparing several recognized sources.

Evolution of average prices per piece (2015 → 2024)

Over ten years, the trend has been clearly upward, with a decisive advance in 2021-2022, followed by a stabilization in 2023-2024 at a high level. The figures below are average prices per piece (at the hammer price).

The timeline in 10 benchmarks (average price, pieces, total)

• 2015: €17,645 | 575 pieces | €10.15 million (recovery vintage, a record at the time).
Hospices Beaune with Albert Bichot

• 2016: €13,041 | 585 (+ 2 half-pieces) | €7.68 million (quantity/quality effect, price decline).
Hospices Beaune with Albert Bichot

• 2017: €14,161 | 787 rooms | €11.16 million (gradual increase).
Hospices Beaune with Albert Bichot

• 2018: €16,849 | 843 rooms | €13.97 million (highest offer since 2009 and average price on the rise).
Hospices Beaune with Albert Bichot

• 2019: €20,409 | 596 rooms | €12.01 million (exceeding the €20,000 mark).
Hospices Beaune with Albert Bichot

• 2020: €20,271 | 637 (+ 1 half-room) | €12.77 million (resilient market in the context of Covid).
Hospices Beaune with Albert Bichot

• 2021: €33,223 | 356 (+ 5 half-rooms) | €11.72 million (jump in averages; 1st sale conducted by Sotheby’s).

• 2022: €35,980 | 817 rooms | €28.91 million (historic record for averages and total).
Hospices Beaune with Albert Bichot

• 2023: €30,838 | 753 rooms | €23.22 million (technical decline after the 2022 record).
Hospices Beaune with Albert Bichot

• 2024: €31.5k (stabilization); total around €13.9–14.4 million depending on scope (see focus).

Trend Reading

The decade shows a low of around €13,000–14,000 (2016–2017), followed by an upward trend that peaks in 2022 (≈€36,000). In 2023–2024, the average remains around €31,000 despite the decline in auction volume, demonstrating a high valuation floor for Hospices vintages.
Hospices Beaune with Albert Bichot

2024 in Focus: Averages, Volumes, "Pièce des Présidents," Red/White Mix
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The 2024 vintage was sparse (due to mildew/powdery mildew pressure), the first year certified organic after conversion, with volumes falling sharply. The result: a lower total auctioned, but a slightly higher average price per barrel, and a striking gap between reds (downward) and whites (upward).

Key figures for 2024 (and why they vary depending on the source)

• Average price per barrel: €31,540 (BIVB/Idealwine average, ≈ +2.5% vs. 2023); €31,647 in the Albert Bichot report (minimal methodological difference).

• Volume: ≈ 446.5 barrels sold (Idealwine); the press reports 445 barrels + 3 leaflets (Le Monde).

• Total sold: €13.909 million (scope excluding specific adjustments, hence the difference with other totals); €14.404 million for Decanter (sample "at the hammer" including the Pièce des Présidents according to Sotheby’s count).

• Price mix: reds –5.37%, whites +8.02% vs 2023 (explanation of the almost stable overall average).

Pièce des Présidents 2024

The Pièce des Présidents (charity lot) reached €360,000, with an additional €100,000 in donations, a level below the 2022 peak but consistent with the context of limited volume.

Reds vs. Whites: The Big Gap

As in 2023, whites are pulling ahead of the average; several grands crus (e.g., Bâtard-Montrachet) exceeded spectacular thresholds in 2024, while reds have taken a breather. This rotation of interest, already observed since 2021, reflects the tight supply and the qualitative perception of recent vintages.

Why Prices Move: 4 Factors to Watch

Beyond the intrinsic quality of the vintage, Hospices data is highly sensitive to the quantity offered and the international market context.

1) Quantity offered for sale

The number of wines directly affects auction pressure; 2022 (817 wines) combined high volume and record prices, while 2024 saw low volume and stable prices (solid average despite fewer than 450 wines sold).

2) Red/white mix

Whites (Meursault, Corton-Charlemagne, Bâtard-Montrachet, etc.) can outperform in certain years and pull ahead of the average; 2024 is a good example (+8% for whites / –5% for reds).

3) Fine wine market cycle

After the 2021-2022 acceleration, 2023 saw a slowdown (macro, currencies, inventories). 2024 confirms a stabilization on a high plateau, according to market analyses (Idealwine, Burgundy-Report, Decanter).

4) Vintage Narrative & Certification

Technical factors (health pressure, organic certification, yields) influence desirability. 2024, a certified organic but not very abundant vintage, maintained high averages despite a mechanically lower total.

Practical references: from "price per barrel" to bottle price

How do we move from the average per barrel to a "bottle price" approach? One barrel = 228 L ≈ 288 bottles. In 2024, an average of approximately €31,540 theoretically corresponds to €110 per bottle (excluding buyer’s fees, aging, bottling, and buyer-grower margin). This final retail price will be higher once the wine is aged, bottled, and distributed.

Numerical summary (2015-2024) and forecast for 2025

In ten years, the average price per barrel has risen from a plateau of €14,000–18,000 to a plateau of €31,000–36,000. The 2021-2022 period has raised the curve sustainably. 2023-2024 have consolidated these levels, despite lower volumes. For 2025 (2025 vintage, sale on November 16, 2025), the focus will be on: quantity, white/red mix, and market climate (stocks & currencies).

In summary: a high level, driven by whites, and a reduced offering

The decade 2015-2024 established the Hospices Wine Sale as a benchmark for Burgundy prices: after a gradual rise, 2021-2022 broke a barrier, and 2023-2024 locked in a plateau around €31,000–32,000 per barrel. The 2024 edition, marked by low volumes and high-performing whites, confirms the resilience of international demand for these iconic charity vintages.
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