In a medium sauce pot, bring the white wine, Champagne vinegar, water, tarragon, shallot, and peppercorns to a boil over medium-high heat. Once boiling, turn the heat down to maintain a simmer. Simmer until the liquid has reduced by half, then strain into a mixing bowl and set aside to cool.
Fill a sauce pot halfway with water and bring to a simmer.
Place the egg yolks into the mixing bowl with the bearnaise reduction and set over the simmering water.
Whisk constantly as you take the bowl on and off the heat until the egg yolks have thickened and cooked.
Remove the bowl from the heat and slowly drizzle the clarified butter as you continue to whisk constantly. Season with salt, cover with plastic wrap, and set aside in a warm place until ready to use.
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