I am calling for a boycott of the 2010 Bordeaux vintage.

[JonoB]

I'm revoking my exemption until Thr crash arrives... When the prices drop by half or 2/3rds I will ask for Thr exemption back.

Some interesting similarities here about the comic crash..

Swap Classed Growth Claret for housing, and we are away.

[oldwinenut]

OMFG I just received Zachy's latest 2010 offer. The prices are just so unbelievable that none of it makes any sense.
Haut Bailly $155.00
Clinet $160.00
Lascombes $ 125.00
Saint Pierre $ 95.00
Brane Cantenac $100.00
Branaire Ducru $ 85.00
There are more on the list priced at just as unbelievable levels. The Bordelaise must be making something in addition to their wine, and with a much higher alcohol content, and drinking a lot of it themselves.
Whatever that juice is, I would buy, not their wine.

[pomilion]

More insanity... Lascombes for $125? Really? I recently bought 04 (which is a very nice wine if you like Lascombes) for $30...

[JonoB]

Some nice thoughts from some of these middlemen!

and some interesting comments here as well.

[pomilion]

further insanity...

Rauzan Segla $145
Pichon Lalande $235
Pavie Macquin $135

[JimHow]

I think the revolution is spreading...
I think Bordeaux is making a BIG mistake.
They are drunk on their nouveaux luxury item status.
They are making a big miscalculation.

[JonB]

All these posts of silly priced wine has me frustrated. So I just bought a 6-pack of 2008 Anderson's Conn Valley Cab. Reserve for $65 per bottle, 98 point RP. I've tasted and have older vintages of this, plus the Eloge, and find these to be just stunning, long lived wines (and fair values for a Napa cab.).

[pomilion]

So I just bought a 6-pack of 2008 Anderson's Conn Valley Cab. Reserve for $65 per bottle, 98 point RP. I've tasted and have older vintages of this, plus the Eloge, and find these to be just stunning, long lived wines (and fair values for a Napa cab.).

Bought a six-pack of this as well, as you say a fair value.

[Blanquito]

Wow, my 2005 prices seem pretty good now! Thanks, guys!

For reference, here's some of my futures prices for the 2005s:
2005 Brane Cantenac $52
2005 d'Issan $52
2005 Saint Pierre $50
2005 Domaine Chevalier Rouge $48.50
2005 Duhart Milon $43
2005 GPL $68
2005 Montrose $105
2005 Malescot St. Exupery $75
2005 Calon Segur $86

[JimHow]

I just made basically my first wine purchase of the year: 6 bottles of 2007 Les Cailloux from Zachy's, on sale for $33.
I just don't have the time to horse around with the high Bordeaux prices.

[oldwinenut]

Great move Jim. I have been enamored of the Rhone wines from '07 and the prices make sense. I loaded up on this vintage and I believe that it is superior to '09 and will drink a lot earlier than '05's, which might be better in the long run. The real deal in the Rhone are the '04's and '06's. There are some great deals out there.

[Claudius2]

Folks
I am starting to think Jim is right.
I just got an email for the o/nite release of PL, Lacscombes, St Pierre, HB et al.
I feel sick.
Most of these wines are 30-40% up on 2009.

However I DID buy the very nice 2004 Lascombes recently for 40% of the 2010 indent price.
Since when has Haut Bailly been $US 160 odd??

The last time I bought it it was $A51, or about $US40 at the time.
I bought the 1995 for $A 35 (or about $US25 at the time).

Larcis Ducasse last year I bought at $S75 (about $US60) - and I thought that was tooo much.
Now it's $S104 or $US83.

I hate to think what the first growths (esp Lafite) will come out at.

And to cap it off, the importer here in SIngapore has just upped the Pontet Canet price from $S215 to $S235 (second tranche).
That's nearly $US200.

Well, the Brunellos are looking more attractive.
And might need to drink more Aust reds.

Cheers
Mark

[pomilion]

Not a lot of new information, but:

http://www.winespectator.com/webfeature/show/id/45226

[stefan]

"If Americans are holding back on Bordeaux, they're the exception. “There seems to be consistent demand across many different markets. It’s not just the U.K. or Asia,” said Mathieu Chadronnier, general manager of CVGB, a leading négociant. "We’re having a pretty strong campaign in more traditional European markets—Switzerland, Germany, Belgium, the Netherlands. The only market where demand is really shy is the U.S.” Only the Japanese market, still recovering from March's devastating earthquake and tsunami, is as flat."

Interesting even if unfortunate for us.

I have not bought a bottle of CA cab in 7-8 years, but I think I will again explore that region.

[JonoB]

That is the negoc selling to merchants... Ask the merchants and there are plenty of grumpy people about. Some wines flew out it seems, but others are not moving a single bit. Simon Staples of BBR's twitter feed is a good place to begin finding this info.

[Bacchus]

Jancis Robinson's advice to the consumer for buying 2010:

http://video.ft.com/v/999063093001/Janc ... nd-bubbles

[pomilion]

Yesterday from Suckling's free blog:

I think we can pretty much say that sale of Bordeaux 2010 futures was not a success this year. All the wine merchants I speak to from the United States to the United Kingdom to France to Hong Kong say that they are having trouble to sell Bordeaux 2010.

Sure, a few wines have sold well such as Pontet Canet, Beychevelle, Montrose, Lynch Bages, Vieux Château Certan and others. But on a whole, most wines didn’t sell very well.

“It’s just too expensive,” said one UK wine merchant. ‘My customers say that they think the Bordelaise are joking.”

I just got this in an email (honestly minutes ago!) from a big wine merchant in Hong Kong: “2010 Lafite for 600 Euros released from chateau? This guy must be on drugs.”

I don’t think many wine merchants in the world are selling first growth Bordeaux 2010 yet. Apparently very little was released on the market at the opening price. So merchants are waiting for the second or third offerings, called tranches, to average the prices. Will the world really want first growth futures at $1,000 to $1,200 a bottle?

Anyway, first growths are just one part of the Bordeaux market. And on a whole, Bordeaux 2010 futures have not been an easy sell. It’s been awhile since Bordeaux has had a great vintage that didn’t sell well as futures or en primeur. If I remember correctly, the last time was 1990. That outstanding vintage sold very slowly as futures as the world braced for the worst with the Gulf War. But it sold well in bottle later as a string of weak vintages followed in Bordeaux and markets such as the United States sought out top wines.

It will be interesting to follow the progress of Bordeaux 2010. Wine merchants tell me they are now focusing on recent vintages in bottle such as 2000 and 2005, which isometimes cost less than 2010 .

One thing is for sure though. The 2010 vintage is an outstanding oe with some truly extraordinary wines. The question now is where else can prices go but down for a while…

[Houndsong]

Yesterday from Suckling's free blog:

I don’t think many wine merchants in the world are selling first growth Bordeaux 2010 yet. Apparently very little was released on the market at the opening price. So merchants are waiting for the second or third offerings, called tranches, to average the prices. Will the world really want first growth futures at $1,000 to $1,200 a bottle?

Huh, and I thought subsequent tranches only went up in price. Conceptually, they must, or the whole tranche system collapses.

[JimHow]

I want the Bordelaise to feel pain. Not because we hate them, but because we love them. They have lost their minds. They need to suffer for awhile.

[JonoB]

They do... The prices are absurd and they shouldn't be. Even those markets that are supposed to buy everything regardless are seemingly saying. Urrggh what are they on??

Things need to change... Merchants can't make money at these prices and if the merchants can't make money, the first line of defence collapses. Chateau can try to sell direct but how would they be able to manage the demand from zero... The system allows them to not have to worry so they need the merchants.

Drinkers can just say no... It is the merchants who provide plenty of great wines from both Bordeaux and other regions who will suffer the most from ever increasing prices.

You can buy two cases of drinking Chave Hermitage for the price before tax of one case of 2010 Cos d'Estournerl.

Chave had a total of 17 hectares. Cos 70+... and I'm pretty sure that Chave pe hectare has higher demand for his wines than Cos... These prices are not based on Market forces. Tranches can get cheaper if the wines don't sell and have in some vintages... Somehow, I don't think that will happen.

[DavidG]

Yesterday from Suckling's free blog:

I don’t think many wine merchants in the world are selling first growth Bordeaux 2010 yet. Apparently very little was released on the market at the opening price. So merchants are waiting for the second or third offerings, called tranches, to average the prices. Will the world really want first growth futures at $1,000 to $1,200 a bottle?

Huh, and I thought subsequent tranches only went up in price. Conceptually, they must, or the whole tranche system collapses.

I think prices from the chateaux to the negocs are going up with subsequent tranches. It's just that the merchants are waiting to see what those increased prices are for the 2d, 3d tranches so they can average them with the 1st tranche. They do this because the amounts offered as 1st tranche are so small, they don't want to have to sell on to their customers with multiple small tranches, increasing the price each time.

[Jay Winton]

2010 LMHB only $959pb from K and L. Wow, what a deal!

[JonoB]

Just been offered Margaux! A snip at £8200 per 12 before tax!

[JCNorthway]

I have not purchased Bordeaux wines in volume since the 2000 vintage. So this pricing seems almost incomprehensible to me. Obviously they are marketing to a different economic segment of the population than the one in which I exist. I'm glad I do not gauge my success in life by my ability to afford first growths!

Jon

[pomilion]

More 2010 comedy: Duhart at $130 I bought the more or less equally favorably reviewed '09 for $60...

[DavidG]

Cheval Blanc US $1500/btl from Zachy's
Yquem US $750/btl.

At these prices, a boycott is easy!

[JonoB]

Wow! They are making a nice profit on Yquem as it released, yea at a high price hut below the 05 price by €30 euros, and over €100 below the 09 price.

[mike reff]

These prices had made it very easy to say the word PASS!!!!!