Decanter art: end of the Belle Epoque for blue chip Bordeaux

[AlexR]

http://www.decanter.com/news/277266.html

This is hardly the first time I have heard such an observation...

All it takes is a really good vintage to set this analysis on its head.
BECAUSE, crisis or no crisis, people are sure to buy into a great vintage.
And not everyone is experiencing a crisis by any means.

Best regards,
Alex R.

[Houndsong]

It's true. I got a TCWC email yesterday announcing that they had reduced some 2007 futures prices by as much as $2 a bottle. The price reductions are not retroactive for the three people who bought 2007 futures. Act fast, quantities are limited.

[AlexR]

Hound,

It really is different this year.
Jean-Guillaume Prats made quite a splash when he suggested not having an en primeur campaign at all this spring, and waiting until the fall.

The château owners know that they must reduce prices.
While it is difficult to overestimate pride and greed, the economic context is really working against the great growths this year, and they are well aware of it.

As you well know, there is kind of blackmail system: if you don't buy my wine in this poorly-reputed vintage, you'll be struck off the list until the end of time thereafter.
However, this breaks down when you have large stocks, need to sell vintages the media say they don't like, and the wine trade all around you is going through tough times.

My own opinion is that the pricing on top wines went too far - "objectively" speaking" - and that there will indeed be a comeuppance.

What remains to be seen is the demand for the next vintage of the century (maximum 5-7 years) - and the pricing.

All the best,
Alex