Are 09 futures turning out not overly expensive after all?

[JimHow]

Just looking at the latest PC offering. $39 for Monbousquet. $69 for "greatest Gazin ever." $27 for Clos des Lunelles, a top Parkerized wine.
I saw some reasonable prices from another retailer, can't remember which one, but I remember the prices seemed very reasonable for the greatest vintage since the Big Bang.
And the 2008s are very reasonable, to the point where I'm actually planning on buying a few bottles of first growths for the first time since 2004.
These are very limited samples, of course, but could it be that the 2009s, while they certainly won't be cheap, might end up not being as bad as we expect?
Should we be thanking the citizens of Greece, Spain, Portugal, etc.?

[Comte Flaneur]

If you listen to some of the gloom and doom merchants the euro will be at parity soon, but many of these are the same people who told you the euro was going up at $1.60

[Blanquito]

Wow, the Monbo is a lot cheaper than the 2005, which was like $60 at PC as a future. A good sign?

Still, these 2009s will clearly cost much more than the 2008s, no matter the Parker score (unless he pans a 2009 outright).

But I'm sitting this one out, but for a handful of petit chateau if they come out at reasonable prices (a smaller if today).

[JimHow]

2005 Clos des Lunelles was selling in the $40 range as I recall....

[rjsussex]

From the UK and with sterling so weak the prices are already really scary: in the last few days I've had a flurry of emails urging Batailley on me as a great value at (final price) about £30 a bottle. Batailley!

Insider tips at my end suggest that value will be with Moulin Riche, Petit Bocq, Citran... I can't see myself buying (for example) my usual favourite Durfort (Parker actually tasted it this year - sidekick Martin hated it, everyone else loves it) if it comes out over £30. Sorry but the 05 was £20 and the 04 about £17.

But glad the dollar is helping you guys.

Richard

[JonB]

2005 Monbo was $21 for splits and $40 for 750 from PC, so the $0.01 reduction for 2009 isn't too significant.

The campaign is still young so it is premature to draw conclusions. Since it is so drawn out, there are a lot of factors that could influence prices.

I've bought nothing.

[Houndsong]

How far past expensive is overly?

[Tom In DC]

Overly is in the eye of the beholden, right?

[Blanquito]

I double checked my records, and I paid $60 for the 2005 Monbousquet futures from Premier Cru (and believe me, I feel like a chump for it even with Parker's final 95 point rating), although I didn't pick any of this until the Fall of 2006 (missing any first tranche pricing, if PC offered it).

[PappaDoc]

Gazin, Again.............. Just three btls though.

[rjsussex]

Latest joke from UK-world: Roc de Cambes 09 (Cotes de Bourg) at £440 in bond. That's final price about £47 a bottle. Oh I'm so enjoying this campaign and it hasn't even properly started.

(Actually I feel sick.)

Richard

[JonB]

2009 Duhart came out today at $60 (Winex). RP 94-96*. I bought a case of the '08 (futures) at $34/750 RP93-95, and have several cases of the '05 bought at $50/750 at my local Costco (i.e. not futures) RP94 "The best Duhart ever made?".

Not a good trend for reasonable '09 pricing........

[Houndsong]

RIP Ch. Poujeaux

2009 Chateau Poujeaux, Moulis

Wine Spectator - 93-96 Points
Wine Advocate - 90-93* Points

$ 27.95 per Bottle (750ml)
$ 60.95 per Magnum (1.5L)

Delivery: Spring 2012

"(93-96) out of 100...Full and very velvety, with round and juicy tannins. Creamy. New ownership here is really making a difference in wine quality; this is the best ever after maybe the 1929." - WS

"(90-93*) out of 100...The Cuvelier family that has done so much to resurrect Clos Fourtet purchased this estate that had long been the pride and joy of the Theil family. A large vineyard, and certainly the finest wine of the somewhat forgotten appellation of Moulis, the yields in 2009 were 40 hectoliters per hectare, and the wine is a blend of 50% Cabernet Sauvignon, 40% Merlot, and the rest Cabernet Franc and Petit Verdot. Soft, fleshy, and opulent, with lots of black currant and black cherry fruit intermixed with hints of cedar and spice box, and an enticing texture result in a wine to drink now and over the next 10-12 years. It is a sleeper of the vintage." - WA

[JimHow]

$70 at PC for "Chateau Lafite's 2009 Duhart Milon..."

I can see where this is going....

[Claret]

Poujeaux is perhaps the only 2009 on my radar screen based upon an appreciation of their previous style. The desciption of creamy and drink over the next 10-12 years from a wine with a history of longevity in the cellar is causing me some concern. Maybe it is a monumental vintage for this sentimental old friend that in the 1982 vintage provided me with my Bordeaux epiphany, or maybe it is the turning point into a new and different era with the new ownership combined with a ripe vintage.

My plan is to wait until release before buying some although the futures price seems quite reasonable.

Glenn

[stefan]

'09 du Tertre for $32 at PC seems not too bad. My wine merchant has to pay the distributor $432/cs for the same wine.

[Houndsong]

New owners + Derenencourt = Velvety, creamy, soft, fleshy, opulent = lots of points = a new Poujeaux. Maybe it is good too.

[JimHow]

It is odd, Stefan, some wines like du Tertre and numerous others seem to be at fairly approachable 2005 or lower price levels.

Then you have other wines that seem to have made that Pape-Clement/Carruades-like paradigm shift in price into another price realm, for example, '09 La Fleur Petrus for $260, etc. Duhart is entering into the beginning stages of that price metamorphosis as well, pretty soon we won't be able to get "Chateau Lafite's Duhart Milon" for under a hundred bucks.

[Blanquito]

I bought the 2003 Duhart Milon (which I now hear has something to do with Lafite!) for $28 as futures.

Not first tranche pricing, but good old normal futures from WineX. When it was released and performed well immediately, the price shot up to $35.

Now it's $70 from PC??? So for the priviledge of paying more than double, you'll have to wait until 2020 when PC finally delivers to find out what those incompetents at Lafite have done to this once reliable 5th Growth.

I am tempted by wines like the 2009 Poujeaux, but I am very skeptical about what kind of wine I'd be getting, given the move to the Parker-pleasing Derenencourt. Many of the best looking 2009s (Tronquoy Lalande, Poujeaux, etc.), which received Parker's best-ever *, are under new ownership, so who knows what's really going on.

[JimHow]

The 2003 Duhart Milon hit the cover of Wine Speculator as "the best value wine under $50." The price, of course, then shot up to $70.00.

We've been saying Duhart Milon is great since 1996, now unfortunately the rest of the world has found out our secret, like Pontet Canet, etc.

[rjsussex]

I didn't even know about Duhart being released - it was only offered to confirmed pre-ordering customers - have just heard that it was offered yesterday at £550 AND IS ALREADY TRADING AT £700!! That's c£73 a pop all in.

Richard

[stefan]

I am seeing some discounts on 2007s, of which I own nary a bottle. Are any of them any good? Smith Haut Lafitte @ $50 looks like the best deal, so this is not exactly a fire sale, but...

[JonB]

Stefan - I don't have any 2007s either, but of the very limited samplings of petite chateau my impressions were the aromatics were generally good, and they drink well, but are not impressive. If this is the blanc, I'd say it is worth a try. If not, I'd say it is probably not a bad wine, just priced high for what it is.

[stefan]

This is the rouge, Jon. Thanks.

[rjsussex]

Duhart in UK opened at £550 in bond and I say above was soon trading at £700. I was wrong. It was soon trading at £800. So that's pushing towards £100 a bottle for Duhart Milon 09.

With the weak pound, the opening prices of 09s are so worrying: decent but not exactly shattering bourgeois Estephe's like Ormes and Tronquoy at c£250 in bond, minor-ish Margaux cru classes like Marquis de Terme at c£265, quaffing second wines like Hauts de Pontet at c£220 - these are the prices I paid for Leo Barton 04 for cripes sake!

Richard