Bring prices down in 2014 say Bordeaux buyers: open letter
By Panos Kakaviatos for wine-chronicles
25 January 2015
Last month, I purchased a bottle of 1966 Chateau Montrose, a top second growth from Bordeaux’s Saint Estephe appellation, which apparently did well in that vintage. The price for the bottle, which I purchased at an auction with apparently very good provenance, was less than $190. I love mature Bordeaux, as the wines are ready to drink and a product of long term aging that can work magic for #winelover-s.
As Bordeaux’s top estates tour the world to have their latest in-bottle vintage – 2012 – tasted by merchants, these same merchants are preparing for the en primeur campaign of 2014, when the latest vintage from barrel is tasted in early April.
The fact that I need to spend more money for Chateau Montrose 2009 and 2010 than for Montrose 1966 indicates that something has gone a bit amiss with pricing in recent years.
The bar set in Bordeaux for initial offers has been set too often too high, resulting in less interest in en primeur campaigns, and many alienated end consumers.
To illustrate the point, I have scanned a January “open letter” to Bordeaux signed by top UK Bordeaux merchants – from Farr Vintners and Bordeaux Index to Berry Bros & Rudd and Majestic Wines – urging a “much needed correction” in the market for Bordeaux.