Today's Premier Cru sale: Has the crash begun?

[JimHow]

Some prices still high, but also some prices we haven't seen in a while, including:

'96 Pontet Canet, $39.99
'05 Leoville Poyferre mag, $129.99
'05 d'Armailhac (pre-arrival), $28.99

There are other deals, too.
We still have a long way to go, but this looks like the first significant shakeup in pricing I've seen in a while.

[stefan]

This is the best sale from PC I have seen in a long time. I spent a bundle. But I missed the '96 Pontet Canet and have to call back now...

stefan the Broke

[JimHow]

Well done, stefan. Well done.

[stefan]

The Pontet Canet is now sold out. stefanJr told me that he got in an order for 5 on the web but does not have confirmation that he scored. In my experience, that means he does not have them.

stefan

[Roberto]

I went for some of the '05 Potel Volnay Angels. This is the kind of pricing that made PC famous.

Roberto

[JimHow]

Nicely done, Roberto.
So the Pontent Canet is gone, eh? Ah well, just as well...

[PatrickDL]

96 CdE, 03 Fargues, 94 Warres, 04 Montrose--best prices seen in ages. Maybe the crash has begun Jim....

[JimHow]

Very, very well done, Patrick.

[Houndsong]

Damn, and I was out skiing.

[Roberto]

It is nice to see this hobby become more affordable. Reminds me of the way things used to be. A person can build a cellar when desirable wines are affordable. For a while there it was just nuts.

Roberto

[michael]

It's good to see the prices coming back down to earth. Maybe the days of $30 Lynch and GPL are coming back again

[alchemeus]

I actually don't know. Heck, I don't even look for high end wines anymore. I have around 400 mid to upper tier Bordeaux, and maybe 2 or 3 cases each of Porto and Rhone and Burgundy in the cellar, so I'm kinda satisfied. A scattering of Loire and Italians. My keepers.

Mostly now I buy for 1-5 years of drinkability. Younger stuff. Hell, my palate may be dead in 10 years anyway.

But even though billionaires have lost billions and millionaires have lost millions I can't believe they are to the point of asking "How much does it cost?" Whatever they like they will buy. 0.01% of their budget. I honestly can't see the likes of Lafite or Petrus or DRG lowering prices.

It's the mid-class wines, Poyferre's and such, that may take note of the global depression. Dunno what the 2005 went for, but future vintages, until recovery, may drop to the $40's again. Doubt it will ever drop to the $20's I got the 1996's for.

[Roberto]

Alch, your point is exactly what is so important. Having Poyferres in a more affordable range allows a huge number of normal folk to enjoy the stuff. Few people are going to drink $100 wines on a regular basis.

Roberto

[JimHow]

Yeah, remember when we got those '96 Poyferres for $25 apiece at PC. Unbelievable.

[William P]

The internet connection was down all day. When I get home everything is sold out. Dang! A Montrose for $45. I do think the dam is about to burst.

Bill

[PatrickDL]

Dug out my old records (all paper, not a computer whiz like most of you guys!) On futures, I paid 28USD for P-C and 83 for Cos. Mouton I bought upon arrival for 140. Since 97, CPI has risen just under 30 percent. Thus adjusted, P-C is slightly higher now, Cos is substantially lower, Mouton has appreciated significantly. 04 Montrose was 47 on futures so little change. 03 Fargues was 50 so a significant decrease today. Even at today's price the 94 Warres has appreciated significantly. 37 upon release here in KC. P