2009 Bordeaux prices could rocket by Jane Scott Monday, April 26, 2010
Several wine merchants in the USA expect prices for the 2009 Bordeaux vintage to be high following the hype surrounding the vintage so far. According to Californian merchant John Fox there's a definite feeling in the trade that the vintage will be in demand and that First Growths will be snapped up at any price. Others in the trade agree but warned caution given the economic climate in 2010 compared to 2006 when prices rocketed for the now legendary 2005 Bordeaux vintage.
Meanwhile, fine wine merchant Bordeaux Index alleged that unscrupulous traders in Shanghai had hoodwinked private customers into ordering and paying for the 2009 vintage of top Bordeaux wines before the prices had been released. Simon Staples, sales director at Berry Bros & Rudd in London, said caution was necessary in a market that has not traditionally bought en primeur. He said The next few months could easily be used, wittingly or unwittingly, by wine shops all over the world to sell bogus stock, cautioned Staples from London. Make sure that the merchant you buy from has been trading en primeur for 10 years at a minimum and will be solvent in 2012-13.
En primeur prices are slowly being released but the big names could hold out as late as the HongKong VinExpo on the 25-28 May.
Liv-ex is the leading Fine Wine Exchange through which fine wines are traded between merchants as commodities. James Miles, founder and director, explains how the exchange works in the first of three interviews.
James Miles is a founder and director of Liv-ex, the leading Fine Wine Exchange. In this second interview we follow the highs and lows of the last decade of en primeur campaigns in Bordeaux.
Berry Bros & Rudd is finding cases of Bordeaux 2005 that it sold ‘en primeur’ have increased in value more than any other vintage between harvest and being shipped to the UK
