Attractive Price Drop on the Iconic 2004 Krug Vintage

"Anyone who finds it should seize the opportunity; it’s a magical bottle."
— Antonio Galloni

Such is Antonio Galloni's praise for the 2004 Krug Vintage – words that may stand as a powerful investment rationale on their own. Earlier this year in March, Galloni revisited this vintage and raised his rating from 97+ to 98 points, underscoring its exceptional appeal.

In addition to Galloni’s revised score, this vintage has been in circulation for almost a decade and remains in its prime, with Wine Advocate predicting its drinking window could extend to 2050. Celebrated as one of Krug’s top vintage releases, it’s likely to remain a coveted piece for future wine enthusiasts.

The 2004 Krug Vintage is nothing short of magical. Yet, it too has seen price adjustments in today’s turbulent market. Currently, you can acquire it at an 18% reduction from its peak price just a year and a half ago.

The product is unchanged. So is its potential. Learn more here.

Krug: A Champagne House Beyond Comparison

Krug is far more than just a champagne house; it is a beacon of quality and a dedication to continuous innovation within the wine world. Founded in 1843 by visionary Joseph Krug, the house quickly gained a reputation for craftsmanship and an unbreakable commitment to excellence. Upon Joseph’s passing in 1866, his son Paul Krug stepped in to lead, solidifying Krug’s place in the elite ranks of champagne with a home in prestigious Reims.

Since then, Krug has remained true to its heritage of expertise and passion. Under the stewardship of Joseph Krug II, the house weathered the storms of World War I, emerging as a legend. Later, brothers Henri and Remi Krug expanded the house’s legacy, introducing Krug’s first rosé champagne and acquiring celebrated vineyards, including the famous Clos du Mesnil, where the house’s iconic single-vineyard champagne is produced.

Over generations, the Krug family has preserved this invaluable legacy, with a deep commitment to quality and close relationships with other premier champagne producers. Their focus on purity and outstanding quality continues as the house’s defining feature.

In 1999, Krug joined the esteemed LVMH (Louis Vuitton Moët Hennessy) portfolio, while the Krug family remained closely involved. LVMH’s portfolio also includes Château Cheval-Blanc, Château d’Yquem, Clos des Lambrays, and Newton Vineyards. In the spirits world, LVMH is represented by names like Glenmorangie, Belvedere, and Ardbeg. This substantial backing has strengthened Krug’s position in the 21st century, solidifying its reputation as one of the very finest champagne houses.

Read more about Krug Champagne in our article: Krug Champagne – The Story Of A Complete Symphpny Orchestra And Inherited Perfect Champagne Spirit

2004 Krug Vintage: One of the Finest Releases

Rated 98 points by Vinous, 97 by Wine Advocate, and 94 by Richard Juhlin, the 2004 Krug Vintage ranks among the top three of the last eleven vintages. While 1996 holds the highest rating, 2004 has surpassed even the widely acclaimed 2008 and 2002 vintages, which are both renowned as benchmark years in Champagne.

2004 Krug Vintage – Ideal for Investors and Consumers Alike

When we last offered Krug for investment in September 2023, one compelling reason was the discounted price on the 2004 Krug Vintage, at €310* – already €40 below its peak just a few months prior, at €350*.

Prices have continued to adjust, and today you can invest in this exceptional Krug release for €285*. For comparison, the lowest price for a 1990 Krug Vintage on Wine-Searcher.com is currently €745* – more than double this 2004 vintage, which ranks higher in quality. This comparison highlights that, as the market absorbs more of this champagne, €285* or even €350* will seem like a bargain for a wine of this caliber.

In addition, Krug’s newest release, the 2011 Krug Vintage, launched in 2024, is priced at around €250*. In contrast, the 2004 Krug Vintage offers both greater age and a higher critical rating.

*Price excludes customs, tax, and VAT, in full cases and pristine condition.

Krug’s Market Performance

According to Liv-ex, the past ten vintages* of Krug Vintage that have been available for at least five years have yielded an average return of 48.7% over five years. This corresponds to an average annual return of 8.3%—a performance that also reflects recent market corrections.

Additionally, the 2002 and 2000 Krug Vintage have shown annual price increases of 9.2% and 9.5%, respectively, on Wine-Searcher.com since their releases despite recent market corrections. Both vintages are seen as close in quality to the 2004 vintage.

*Vintages: 2006, 2004, 2003, 2002, 2000, 1998, 1996, 1995, 1990, and 1988.

When to Expect the Next Great Champagne Vintage

Antonio Galloni’s review in March 2024 of Champagne vintages from 2016 to 2022 suggests that 2019 will be the next major vintage. It may be several years, however, before prestige cuvées from 2019 are released, which will increase demand for top-quality vintages already available, including 2004.

In other words, top-quality champagnes may be rarer in the near future, which benefits wine investors holding these vintages.

RareWine Invest’s Opinion

In short, the 2004 Krug Vintage is a prestige cuvée from one of the world’s greatest champagne houses, backed by LVMH’s extensive marketing network. The 2004 vintage stands as one of Krug’s finest releases, even surpassing the acclaimed 2008 vintage.

With limited top-quality vintages expected in the coming years, demand is likely to rise for those still available.

Prices have declined, while the quality and age of this vintage remain unmatched, further supported by recent score increases from Vinous.

This is a unique opportunity to invest in world-class, mature champagne that has consistently delivered strong returns—even in turbulent times. Would we still recommend it at €350? Absolutely.