Buying Bordeaux 2012 futures was always going to be a question of prices. Now that the majority of chateau owners have released theirs, it’s apparent they’re tone deaf to today’s market. Most prices are down less than 10 percent, nowhere near low enough.
Moon-shaped lanterns floated over a Chateau Haut-Brion dinner during Vinexpo last month. Owner Prince Robert of Luxembourg brushed off talk of 2010 prices, launching into tales of his early screenwriting career.
In the cavernous sixth floor ballroom at New York’s Marriott Marquis hotel, 110 top Bordeaux producers are busily pouring the region’s reds and whites from the 2010 vintage. Now that they’re bottled, the wines will start showing up on retail shelves. Should you buy now?
French Bordeaux wine makers are facing a drop in sales after boosting prices of their 2010 vintage, the Financial Times reported, citing Simon Staples, Sales and Marketing Director from wine merchant Berry Bros & Rudd.
Growth in wine sales by the leading five auction houses slowed to about 14 percent this year from 75 percent in 2010 as the global financial crisis cooled demand for Chateau Lafite-Rothschild and other top Bordeaux producers.