Napa Cabernet vs Bordeaux Cabernet: the economics side by side

Land

Pauillac at about €2.5 million a hectare (SAFER 2024) against prime Napa at $741,000–1.24 million a hectare: Bordeaux's top land is roughly twice Napa's, and Burgundy's is several times both.

Grapes and farming

Napa Cabernet has a public price — $9,146 a ton in 2024 — because most Napa wineries buy fruit; the Médoc's classified growths buy none, so the comparable is farming cost per hectare: €15,000–30,000 for a classified growth against $12,000–25,000 an acre ($30,000–62,000 a hectare) reported for Napa's premium estates. Napa's yields are similar or slightly higher in hectolitres per hectare.

Oak and aging

Both use 100% new French oak at the top for 18–24 months; Napa's barrels cost a little more landed. Bordeaux's grand vin is bottled and sold en primeur a year after harvest; Napa's cult wines are released two to three years after, so the aging and financing lines are longer in Napa.

Distribution

Bordeaux sells through the Place at 10–20% négociant margin and then importers and merchants; Napa's cult estates sell direct and keep the whole price, while the rest of Napa gives up half through three tiers.

The models

Corkonomics' first-growth and cult-Cabernet models both land in the tens of dollars a bottle, with Bordeaux's imputed land line larger and Napa's farming line larger. The comparison page sets every input side by side with its source.