CorkonomicsThe economics of wine production, collection, and vineyards
The numbers
Vineyard land · Pauillac≈$2,798,250 a hectare▼ down 17% on 20232024Opening price · Château Lafite Rothschild 2025≈$376 a bottle▲ up 17% on the year beforeSold at auction · Romanée-Conti Grand Cru, DRC 2019$22,917 a bottleSotheby's, Sep 2026Cost to make one bottle · Burgundy grand cru (Pinot Noir)$48–283US duty on wine from · Canada+50%since Aug 2026Everyday bottle in a US shop$13.77 a litre▼ down 1.3% in a yearSep 2026Vineyard land · Margaux≈$1,567,020 a hectare▼ down 7% on 20232024Opening price · Château Cheval Blanc 2025≈$376 a bottle▲ up 22% on the year beforeSold at auction · La Tâche Grand Cru, DRC 2018$5,417 a bottleSotheby's, Sep 2026Cost to make one bottle · Champagne prestige cuvée$26–89US duty on wine from · Australia+12.5%since Jul 2026Vineyard land · Côte-Rôtie≈$1,511,055 a hectare▲ up 8% on 20232024Opening price · Château Mouton Rothschild 2025≈$336 a bottle▲ up 19% on the year beforeSold at auction · Richebourg Grand Cru, DRC 2012$3,542 a bottleSotheby's, Sep 2026Cost to make one bottle · Bordeaux classified growth (2nd–5th)$17–61US duty on wine from · New Zealand+12.5%since Jul 2026Vineyard land · Côte de Nuits grand cru≈$7,275,450 a hectare2019Opening price · Château Palmer 2025≈$268 a bottle▼ down 19% on the year beforeVineyard land · Pomerol≈$2,238,600 a hectare2023
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Napa Valley vs Bordeaux — vineyard economics

Vineyard economics of Napa Valley and Bordeaux side by side: land, grapes, yields, labour, barrels and modeled cost per bottle.

First place
Second place
Napa ValleyBordeaux
Vineyard land, Margaux
Land
— 900,000–2,000,000 EUR/ha
2024 · SAFER 2024
Vineyard land, Pauillac
Land
— 1,700,000–4,000,000 EUR/ha
2024 · SAFER 2024
Vineyard land, Pomerol
Land
— 1,500,000–3,000,000 EUR/ha
2023 · SAFER
Vineyard land, Saint-Émilion
Land
— 150,000–2,500,000 EUR/ha
2024 · SAFER 2024
Vineyard land, generic Bordeaux AOC
Land
— 4,000–14,000 EUR/ha
2024 · SAFER 2024
Vineyard land, prime Napa Valley (Oakville, Rutherford, St Helena benchland)
Land
300,000–500,000 USD/acre
2025 · Trade press and broker reports
—
Vineyard land, prime Napa Valley, per hectare
Land
741,000–1,236,000 USD/ha
2025 · Corkonomics estimate from the inputs o…
—
Vineyard land, secondary Napa Valley sites
Land
120,000–340,000 USD/acre
2025 · Trade press and broker reports
—
All varieties, District 4 (Napa) weighted average
Grapes
6,939 USD/ton
2024 · California Grape Crush Report 2024
—
Bulk red Bordeaux AOC, per tonneau of 900 litres
Grapes
— 793–1,000 EUR/tonneau
2025 · CIVB bulk-wine prices for the 2025–26 …
Cabernet Sauvignon grapes, Napa County average
Grapes
8,700–9,146 USD/ton
2024 · Napa County Agricultural Crop Report 2…
—
Cabernet Sauvignon grapes, Napa County, 2025 crush
Grapes
8,864–9,002 USD/ton
2025 · California Grape Crush Report 2025
—
Cabernet Sauvignon grapes, per kilogram
Grapes
10–10 USD/kg
2024 · Corkonomics estimate from the inputs o…
—
Gross grape value per bearing acre
Yields
22,400 USD/acre
2024 · Napa County Agricultural Crop Report 2…
—
Yield at classified growths
Yields
— 30–45 hl/ha
2024 · Estate technical sheets and appellatio…
Yield, Napa Cabernet
Yields
2–4 tons/acre
2024 · Napa County Agricultural Crop Report 2…
—
Yield, Napa Cabernet, in hl/ha
Yields
30–52 hl/ha
2024 · Corkonomics estimate from the inputs o…
—
Farming cost, premium/cult estate
Labour
12,000–25,000 USD/acre/year
2024 · Estate interviews reported in the trad…
—
Hand harvest
Labour
1,500–3,000 USD/acre
2024 · UC Davis / UC Cooperative Extension
2,500–5,000 EUR/ha
2024 · Trade reporting on Médoc harvest labou…
Operating cost, established Cabernet vineyard (hand-harvested)
Labour
5,500–8,500 USD/acre/year
2020 · UC Davis / UC Cooperative Extension
—
Vineyard labour and operations, classified growth
Labour
— 15,000–30,000 EUR/ha/year
2024 · Estate interviews and CIVB cost survey…
New French oak barrel (225 l)
Barrels
1,000–1,500 USD/barrel
2025 · Cooperage price lists and trade report…
—
New French oak barrique (225 l)
Barrels
— 800–1,300 EUR/barrel
2025 · Cooperage price lists and trade report…
Barrel aging before bottling
Cellar aging
— 16–22 months
2024 · Estate technical sheets
Barrel aging, cult Cabernet
Cellar aging
18–24 months
2024 · Estate technical notes
—
Bottle, cork, capsule, label, case
Bottle, closure, label, case
4–10 USD/bottle
2025 · Supplier price lists
3–8 EUR/bottle
2025 · Supplier price lists
Mobile or in-house bottling
Bottling
0–1 USD/bottle
2025 · Mobile bottling line quotes
—
Vineyard establishment (years 1–3, excluding land)
Winery construction
45,000–60,000 USD/acre
2020 · UC Davis / UC Cooperative Extension
—
Winery construction
Winery construction
5,000,000–30,000,000 USD
2024 · Trade reporting on Napa winery project…
—
Distributor + retailer margin (three-tier)
Distribution margins
60–100 % on winery price
2024 · Distributor ≈ 25–30%
—
Importer + retailer margin
Distribution margins
— 25–60 % on cost
2024 · Merchant price lists vs release prices
Négociant margin on the Place de Bordeaux
Distribution margins
— 10–20 % of ex-château price
2024 · Trade reporting on the Place de Bordea…
Estimated cost to make one bottleNapa cult Cabernet: $26–$80
Napa premium Cabernet (purchased fruit): $14–$43
Bordeaux classified growth (2nd–5th): $17–$61
Bordeaux first growth: $28–$95
Pomerol micro-estate (Merlot): $29–$101