Am I having a dream? 2008 Ausone for $1099!

[JCNorthway]

I haven't been paying a lot of attention to the 2008 futures campaign because I'm unlikely to be purchasing any. But didn't the first growths come out initially around $300? Yesterday I got an email from Winex touting the 2008 Ausone for $1,099.99! Is it RP's reviews of this vintage that is driving the prices to what I would consider to be "sky high"?

Jon

[DavidG]

Scarcity and cult status has allowed Ausone to price themselves well above the first growths. It's a great wine, no doubt, but 3-4 times more than the firsts?!? There was a lot of internet chatter about the outrageous price being asked this year.

[JimHow]

That's about what the '06 Ausone is selling for in New Hampshire this year. The prices of '08 Bordeaux seem to be creeping back up to (unfortunate) reality after some initial hopes that they would be moderate.

[SteveH]

The U.S. Dollar has been steadily weaker... again. This may account for the price creep of the rarest chateaux.

[Claudius]

Folks,
In Sydney, Ausone opened at 3 times the price of the left bank firsts (ex. Latour which now seems to have found a higher price level).
It is about the same price here (adjusting for the currency) as in the USA, thus don't think this is a one-off gouge. Cheval Blanc was 25-30% cheaper than Ausone, though more than twice the RB 1er Cru price.

At the same time, the prices here of most of the lower growths are well below the 05 and 06 prices, and still below 07 - particularly the first growths which were about half the price here. The lesser growths in 07 and 08 were not that different in prices - the relative number of ratings points from the usual suspects seemingly playing a role.

The first growths reached lofty price levels in 05, 06 and even 07 and they will be on hold I think for a few years at least due to the GFC.

I would also assume that some importers and traders have given the firsts a wide berth this year due to price gouging in recent years. One local importer and auction house (Langtons) did not indent the firsts at all this year, and in fact brought in only a small number of labels incl the usual suspects like the Pichons, Cos, Montrose, LLC, Pontet Canet, Branaire, etc.

For my money, I had had it with the first growths.
I have not bught them since 2002 vintage and are no longer interested.
Further, there are plenty of wines that are now consistenty excellent in quality for a fraction of the price.
All I bought this year was Leoville Las Cases, Branaire, Laris Ducass and Fonroque.
Tropy hunters can have my share.

[SteveH]

Same here. My last hurrah with 1st Growths was 2002 at $90. a pop. They are now too expensive for wines bottled in the several dozens of thousands per year.

[DavidG]

Claudius, relative prices between '06/'07/'08 for most of the lesser growths and the firsts other than Latour in the US are similar to what you describe. I have heard that Diageo (Chateau and Estates) has taken a big fat pass on all of '08 Bordeaux. They apparently are by far the biggest importer in the US, so if this is true it means that Bordeaux is going to have to find its way into the US via a variety of different channels.

[DavidG]

But to answer your original question, Jon: No, you are not having a dream. You are having a nightmare...

[JimHow]

Looks like the '06 Ausone is coming in at $1,179.99 in NH this year.

[stefan]

Jim, are people lining up the night before so as to buy when '06 Ausone first goes up for sale?

stefan

[JimHow]

Sadly no, Stefan, the good old days at New Hampshire seem to be gone forever. I think the defeat of the U.S. dollar has a lot to do with it. Their markups are minimal, but in the end there is only so low they can go without taking a loss.

[rjsussex]

To answer Jon's last question: yes, it's RP's scores for the 08s that is driving these lunatic prices. As I've said many times the UK trade took one look at his 08 scores and thought he'd gone mad. So, apparently, do many proprietors but they're not complaining!

R