Cult Insider

It is perhaps a well-known "irony" that most DP is enjoyed in its youth, gracing the countertops of lavish nightclubs and parties. Not P2 – crafted to reward those who are truly patient.

From an investment standpoint, Dom Pérignon is an iconic label with consistent demand. The graph below highlights recent P2 vintages, comparing their prices to scores. The score points on the graph reflect the perceived fair value of the vintage – based on an aggregation of metrics such as prices and ratings of physically available back vintages, along with trade volumes, production quantity, brand prestige, and so on.

1996, the first "Plénitude" vintage, has just entered its prime drinking window. With this great vintage slowly being depleted, it seems that the pricing directions of the following vintages might mirror 1996. Time to stock up.

Bollinger Vieilles Vignes Françaises

The eponymous Bollinger Vieilles Vignes Françaises (VVF) is as rare as it is sought after. It is produced only in special vintages, and historical production averages around less than 3,000 bottles per vintage. This is around half the production volume of Krug's single-vineyard and super-rare Clos d'Ambonnay.

It is said that a VVF should never be presented at a blind tasting, as the story behind its label embodies the very essence of Champagne's purest and richest traditions.

The fruit for this cuvée comes from two small walled vineyards in Aÿ—Clos Saint-Jacques and Clos Chaudes-Terres—spanning just 31 acres, both of which face the risk of shrinking further. This pre-phylloxera, ungrafted vines are likely some of the original Pinot Noir plants that thrived before the infamous pest invaded Aube in 1888. Today, these VVF vines hang precariously in their existence. Notably, VVF's Bouzy vineyards succumbed to the pest as recently as 2004!

VVF vines are nurtured using the traditional provignage method, a nearly forgotten practice in modern viticulture that gives the vineyard a charmingly crowded appearance. In this system, each vine regenerates by burying a previous year's cane, sprouting a new fruiting cane above ground while developing fresh roots below. The result is a dense, zigzagging network as new vines seem to spring up naturally.

The result is extremely low yields. Plus, the vines are trained on poles and pruned to just two or three buds, far fewer than the usual nine or ten in Champagne.

At Bollinger, fermentation takes place in old barrels, averaging 30 years in age, which is fundamental to the house's rich, vinous style driven by Pinot Noir. The wine then undergoes its second fermentation under natural cork, with subsequent disgorgement needing to be performed almost entirely by hand.

All this is a testament to Bollinger's commitment to tradition and perfection, with recent discoveries highlighting the beneficial effects of natural cork, especially when paired with at least six to eight years of lees-ageing. VVF typically sees between eight and ten before release to the market.

Bollinger's managing director says it best, "Those who have the privilege to taste Vieilles Vignes Françaises rediscover the flavour of the first champagnes."

The singularity of character and finesse that come from VVF, along with its fragile production volume, truly sets its status apart as a "rarer-than-unicorn" wine, if this makes sense.

Philipponnat Clos des Goisses

In the old champagne dialect, "Goisses" means a very deep slope. It is this very attribute that sets Clos des Goisses (CDG) apart from the rest of Champagne.

The slope of CDG is one of the most distinguishable slopes of the Aÿ region, or more accurately, Mareuil-Sur-Ay, which is just to the right of Aÿ. Clos des Goisses stands out in Champagne due to its dramatic 45-degree slope and its south-facing aspect, which makes it the warmest vineyard in Champagne.

The pure-chalk soils combined with this elevated warmth — averaging 1.5°C higher than most of the region — create a distinct environment that produces wines known for their power, intensity, and complexity.

With its fully walled 5.5 Hectares, Philipponnat has solely owned this utterly distinct site for nearly a century and was the first house in the region to bottle CDG as a single-vineyard wine.

In the barrel room, half of the base wines typically undergo barrel fermentation without any malolactic conversion to preserve the cuveé's precision. The wines typically undergo around ten years of less ageing before release, and the blend is typically around two-thirds Pinot Noir and one-third Chardonnay, much like the planting proportions in the vineyard.

The singularity of CDG (much like Burgundy's famed close vineyards), along with its complex micro-climate and aspect conditions, make for a powerful and precise wine that evolves over time with remarkable depth and longevity.

From an investment perspective, it does seem like the wine tends to outperform its fair value, especially once CDG vintages start to enter their drinking window. It remains to be seen if top vintages like 2008 and 2012 will follow suit.

Numbers aside, the return on enjoyment for us champagne lovers defy any price tag. Sometimes, the best reward for your investment is sipped, not sold.

Here's to the next Dom Pérignon P2, Bollinger VVF, and Philipponnat CDG – may our lives be as these Champagnes we toast with – richly storied, charmingly bubbly, and always worthy of celebration!