CorkonomicsThe economics of wine production, collection, and vineyards
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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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Pavillon Rouge du Château Margaux 2003

2003 was a mixed year in Bordeaux. Some estates did well and others struggled.

Save · All vintages of Pavillon Rouge du Château Margaux · Compare

Château Margaux vineyard, Bordeaux
FreeProd · Adobe Stock · Adobe Stock Standard License

What to expect

Quality varied from estate to estate, so the name on the label matters more than usual.

20 of the 24 years we cover for this wine were rated higher.

A glass of red wine on a stone balustrade in front of a country house and vineyards
The year
Mixed
Last sold at auction for
≈$186a bottle · Christie's, Mar 2021

Other vintages of this wine

One square for each year. The darker the square, the better the weather was for the grapes. Tap a year to read about it.

202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000
ExceptionalExcellentVery goodGoodMixedDifficult

What bottles sell for

At auction, standard bottles of this vintage have sold for between ≈$186 and ≈$186 each, across 2 sales since March 2021.

Every sale on record3 lots, each linked to the auction house
Sale dateHouse and saleFormatLot pricePer bottle
Dec 2022Christie'sFine and Rare Wines Online: LA Edition (sale 20971) · Los Angeles · lot 836 × 75 cl$875$146
Mar 2021Christie'sFinest and Rarest Wines and Spirits Featuring A Superlative Private Collection (sale 19854) · Hong Kong · lot 46312 × 75 cl≈$2,230≈$186
Mar 2021Christie'sFinest and Rarest Wines and Spirits Featuring A Superlative Private Collection (sale 19854) · Hong Kong · lot 46212 × 75 cl≈$2,230≈$186
 Prices are in the currency of each sale. Christie’s and Sotheby’s include the buyer’s fee; Hart Davis Hart shows the price before it.

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What does this wine cost to make?Our estimate: $17–$61 a bottle

We estimate it costs about $17 to $61 to make one bottle of a wine like this. The price in the shop is far higher because the land is scarce, the name is famous, and many hands take a share on the way to you.

Low estimateImputed land cost: $4.35Vineyard operations: $2.54Oak barrels: $0.43Winemaking labour and cellar work: $2.00Cellar aging: $1.04Bottle, closure, label, case and bottling: $3.90Winery overhead: $2.00Financing over the aging period: $0.85$17 per bottleHigh estimateImputed land cost: $25.08Vineyard operations: $6.84Oak barrels: $1.40Winemaking labour and cellar work: $4.00Cellar aging: $2.56Bottle, closure, label, case and bottling: $10.40Winery overhead: $5.00Financing over the aging period: $6.19$61 per bottleImputed land costVineyard operationsOak barrelsWinemaking labour and cellar workCellar agingBottle, closure, label, case and bottlingWinery overheadFinancing over the aging periodUS$ per 75 cl bottle at the winery, before any margin, tax or transport · Corkonomics cost model

See the full breakdown

Last reviewed: September 2026Report an error on this page