▻ The Role of the Courtier with Margaux Brengel
In conversation with Margaux Brengel of Bureau Levèque Grands Vin du Monde
Episode Summary:-
The role of the courtier (broker) in Bordeaux is shrouded in mystery, yet the courtiers are responsible for 95% of the transactions between the châteaux and the negociants for Bordeaux Grands Crus and 75% of all Bordeaux wine. In a rare interview, Margaux Brengel of Bureau Levèque Grands Vins du Monde speaks to Jane Anson about the role of the courtier, both in the past and the present.
The courtier is fundamental to how wine is bought and sold in Bordeaux. Increasingly, great wines from outside Bordeaux have been joining La Place de Bordeaux, the three-tiered system whereby producers sell their wines, via a courtier (broker), to a negociant who is part of La Place’s distribution network, and who send them into markets around the world.
Margaux Brengel discusses her new role as a courtier in Bordeaux, having spent six years in Asia working for Moet Hennessy. She explains how the courtier is the bridge between the producer and buyer. “The role of the courtier is to be a true advisor, to be an enlightened advisor to both parties,” she says. For the producer, the courtier helps set the right price and advises on distribution, for the negociants, the courtier discusses the merits of the wine and the brand: A courtier acts a facilitator.
Margaux says there are a total of 100 wine courtiers or brokers, of whom 30 are “sworn brokers.” To be a sworn broker, you have to pass an exam, and it is the one part of the wine trade which is regulated by law. The system started back in the 11th century when wine-trading between Bordeaux and England began thanks to the marriage of Eleanor of Aquitaine and King Henry II, and was codified in 1321 under Philippe Le Bel. Eleanor’s son Richard the Lionheart’s favourite wine was Bordeaux, and people believed if it was good enough for the king it was good enough for everybody.
The best châteaux were owned by wealthy individuals, many of whom were members of the royal family. It was considered inappropriate to sell directly and sully their hands with commerce, so brokers were introduced to avoid the aristocratic owners having to deal directly with the merchant class. Margaux discusses how courtiers used to ride out to the vineyards and carry the money back with them to the Quai des Chartrons. Today, she tells Jane that a typical day will be a visit in the morning to some producers, lunch with a negociant to discuss strategy and then back to the office to help facilitate deals. There are two key periods for courtiers, En Primeur and September, when new releases of bottled wine come onto the market, in addition to the “beyond Bordeaux” wines.
In 2021 there were 80 new “beyond Bordeaux” labels released in September, a large increase in a few years. Jane and Margaux discuss why non-Bordeaux producers are increasingly using the Place de Bordeaux. “The advantage is to be in a distribution system where all the Grands Crus from Bordeaux are sold. It’s good for the reputation of the brand of wine, as the negociants are all experts. It brings an eclectic choice for customers.”
The role of the courtier has always played an important part in Bordeaux, but maybe never more significant than in helping to create the 1855 classification. Jane and Margaux talk about how the courtiers helped create the classification, based on their records of price, and reputation. While it has traditionally been a man’s world, Margaux reveals that more women are now becoming courtiers, and that the role is evolving as more of the great wines of the world are joining La Place de Bordeaux and working with them.
““Brokers (courtiers) originally were introduced to avoid the aristocratic owners having to deal directly with the merchant class.””
Running Order:-
-
0.00 – 8.50
“The courtier is the middleman between producer and buyer.”
– How Margaux Brengel became a courtier.
– The expansion of the Place de Bordeaux with non-Bordeaux wines.
– The role of the courtier.
– The number of properties in Bordeaux who use a courtier in their negotiations.
– The number of courtiers (brokers) in Bordeaux today. -
8.51 – 22.19
“Historically, it was the brokers who knew if there was a hailstorm or difficult weather.”
– The beginning of the courtier system.
– The role of Eleanor of Aquitaine and Richard the Lionheart.
– Life as a courtier in the 16th century.
– Life as a courtier today. -
22.20 – 38.02
“I see the Place de Bordeaux becoming the heart of the distribution of all the great wines of the world.”
– The increase of non- Bordeaux wines using the Place de Bordeaux.
– The role of the courtiers in creating the 1855 classification.
– The future of the courtier’s role.
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