My Article: Asia Will Set The Tone for Bordeaux 2010

A number of popular chateaux released prices for Bordeaux 2010 futures this week with increases between five percent to almost 30 percent more than 2009. I am told that this is good by the wine trade (see Pierre Lawton’s blog) because the prices for such wines, like Beychevelle (excellent) and Cantermerle (outstanding) as well as Rieussec (sweet wine of the vintage), are less than current prices for the same wines in top vintages such as 2009 or 2005.

Read my tasting report on Bordeaux 2010 if you haven’t already checked it out. Some incredible wines were made in 2010.

I have not yet researched the 2010 prices myself to confirm it, but I am not sure I understand the reason for increasing 2010 prices when the wines are clearly not better than 2009 overall. And the marketplace will not perceive 2010 as better than 2009. Of course, certain wines are better in 2010 such as the Beychevelle, but I don’t think this justifies increasing prices from 2009 levels; they were already very high!

Moreover, we should all remember that many chateaux make a small release at the outset of their en primeur, or futures, sales – what they call première tranche, or first slice. And then they may release more at higher prices. Most wine merchants who buy futures average all the tranche prices, and then offer their wines to their customers at this price.

So, it’s not completely accurate to make generalizations about initial prices for en primeur.

My gut feeling is that a significant price increase is underway for 2010, and whether this is accepted will be primarily up to the Asian market. No other market, with the exception of perhaps Russia, is willing to pay significantly more for 2010 over 2009.

 I will let you know about the vibe in Hong Kong next week for Bordeaux 2010, because I just arrived in Macau today for an event with the magazine Hong Kong Tatler. You probably already know I am HKT’s wine editor.

What you may not know is that I wrote the Asia Tatler James Suckling Guide to Bordeaux 2010 Futures. It’s being printed as you read this with 30,000 copies being distributed in Hong Kong and the rest of China; I may offer it in North America as well. It’s full of buying advice and contains close to 500 tasting notes, as well as interviews and articles.