Harpers Wine and Spirit Trade Gazette published my article on 3rd June, with my photo of a picker at Château Troplong Mondot on the front cover: “Massive prices for the 2010 First Growths, Super Seconds and Flying Fifths won’t deter investors, and buyers from the Far East, but will the Bordeaux en primeur bandwagon run out of steam further down the line?”
“With James Suckling shouting ‘believe the hype’ back in March, through to Robert Parker’s Bordeaux 2010 later-than-usual report in May, the PR campaign seemed more drawn out than ever this year. And this was before the leading Châteaux had even thought about prices.
“There are some worrying signals too, beyond the iconic brands. Parker, whilst very enthusiastic about 2010, hasn’t lavished as many wines with such high praise, and the difference in ratings of just a few points is, in terms of demand, very significant. Added to which, unlike 2009, there are no double asterisks from him (‘best wine ever from this estate’) this time around.
“On the other hand, many top Châteaux are likely to increase prices, having made less wine than in 2009.
“Fine wine merchants expect Bordeaux 2010 to be more expensive than 2009, despite concerns over lower demand and buyers’ inability to cope with rising prices” said James Miles, director of Liv-ex. “Given the lack of price movement we have seen for the 2009s over the past 12 months, it is not clear how well the market will absorb back to back years at record prices.”