I was speaking to a leading UK wine merchant yesterday who had some interesting opinions on the 2010 Bordeaux en primeur campaign.
So far we have seen relatively few châteaux declare their prices. And of those that have, the only people buying are the brits – the Europeans and Americans don’t seem to be interested yet. ‘They are all faffing about this year,’ he said. Apparently the Bordeaux châteaux are terrified and don’t want to get their pricing wrong. The result? They’re all leaving it late.
He’s worried they may indeed have left it too late. It’s not long until Vinexpo, and we could be seeing many châteaux all releasing at the same time. ‘Some will get lost in the crush.’
‘Prices need to be about 15-20% down on 2009 to sell through. This year [2010 vintage] we have had a handful of wish lists from customers, despite the good reviews. Last year we had thousands. Here we are, it’s the 6th June, and most of the prices haven’t come out. If they come out at too high a price it will stall.’
He points out that the 2009s haven’t increased in price since release. ‘About six wines have appreciated in value; the rest are the same.’