With so many parts of the traditional wine buying world still in an economic winter. The prospect of opening up the piggy bank to purchase en primeur will prove less likely to western markets than those countries in the Far East.
The whole idea of purchasing in advance was to either make a profit or to ensure that you got the wines you wanted. Remembering, that you have to part with your cash 2 years before you physically see your wine.
Clearly the hunt will be on for classified growths and in particular the 1st growths and the super seconds. All will however depend upon price! If the release prices are at the levels shown between 2005 and 2008 then I am sure the wines will find eager buyers. If however the prices are too high then demand and interest will suffer and buyers will be frightened away for future years.
The Bordelais have to be mindful of this and ensure that wines are offered at prices that offer continuity. There is no point in offering wines at prices higher than the last good vintage, that being 2005. This will only turn away investors.
En primeur prices have to be low enough to encourage buyers to part with their money 2 years in advance.
I anticipate that many of our Far East customers will be cautious, my impression is that they like to physically see the wine when the purchase it. Perhaps then if the release prices are low enough they could be encouraged to join in the market. Time will tell.
Already we have huge demand for 1st growths and super seconds. In order to share out the riches we will be asking our clients to purchase other wines which are not necessarily for investment but more for drinking as part of the total package.
I can tell you that demand will be huge irrespective of price for the top wines. In addition there are other wines to look out for which represent great value for money; the Leoville’s, the Pichon’s, Lynch Bages, Cos’d’Estournel, Talbot, Palmer etc. Going further there will be high demand for wines that have scored highly with the reviewers.
It is going to prove an exciting campaign. I have a feeling that it will go on for awhile with the lesser chateaux coming out in April/May followed by the classified growths and super seconds in May/June.
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