In the past weeks, the world wine market has its eyes fixed on the Bordeaux en primeur. With every price release looking like an IPO, wine merchants are often kept waiting with eager anticipation. Marking wines to market wrongly can be disastrous, result in either massive loss in profits or lack of interest from customers. Both equally bad.
The concept of futures has been in practise for the past 30 years. Wine traders, representing companies or private investors, will make their rounds throughout the Bordeaux region visiting reputable classed growth wineries, tasting wines from barrels and delivering tasting notes to customers miles away. As the name implies, buying wine futures means you can’t expect the bottles to seat neatly in your private cellar until one year after. This provides quick cash flow for wineries, keeping them afloat for more vintages. Prices at en primeur are usually at its lowest, but of course, there can be exceptions.
Price fluctuation between vintages is usually seen as a comparator for quality. 2012 favours the early harvesting Bordeaux right bank and dry white wines as they are harvested earlier in September. The October rain washed out most of left bank and the sweet botrytis-styled white. Early harvesters in the left bank are spared, but few made the early decision. Mouton Rothschild marked itself at €240, 33% cheaper than the 2011 vintage. On the other hand, wines from right-bank Angelus and Pavie are in the stratosphere with increase of 30% and 58% respectively. Remarkable confidence in quality.
[quote_simple]But there was a slight greenness and hollow middle to many of the Médocs reds ….. it is – with few exceptions – not a vintage for the long term.
– Steven Spurrier
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But price movement reflects more than quality but also the potential demand from global market. The 2009 and 2010 vintages were heavily invested by the oriental customers. 2011 vintage didn’t fare quite as well. Although 2012 is seen as a comparable vintage, the prices had moved significantly lower. With the far-east attention now looking more on the Burgundian, the Bordelais are obviously working to woo back those they have previously abandoned.
For the interested or curious, I have included the prices provided from Vinum. Following information are provided without any warranty and based on email offers received, so check with Vinum for updates.
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Mouton Rothschild, Paulliac – S$445 per bottle (S$476.15 incl GST)
Le Petit Mouton, Paulliac – S$130 per bottle (S$139.10 incl GST)
Lynch Bages, Pauillac – S$116 per bottle (S$124.12 incl GST)
Echo de Lynch Bages, Pauillac – S$47 per bottle (S$50.29 incl GST)
Rauzan Segla, Margaux – S$74 per bottle (S$79.18 incl GST)
Les Ormes des Pez, Saint-Estephe – S$39 per bottle (S$41.73 incl GST)
Aile d’Argent Blanc, Pauillac – S$95 per bottle (S$101.65 incl GST)
Blanc de Lynch Bages, Pauillac – S$47 per bottle (S$50.29 incl GST)
Chasse-Spleen, Moulis-en-Medoc – S$39 per bottle (S$41.73 incl GST)
Pibran, Paulliac – S$39 per bottle (S$41.73 incl GST)
L’Evangile, Pomerol – S$188 per bottle (S$201.16 incl GST)
Valandraud, St. Emilion – S$149 per bottle (S$159.43 incl GST)
Duhart Milon, Pauillac – S$100 per bottle (S$107.00 incl GST)
Les Carmes Haut Brion, Pessac-Leognan – S$60 per bottle (S$64.20 incl GST)
Virginie de Valandraud, St. Emilion – S$46 per bottle (S$49.22 incl GST)
Sociando Mallet, Haut Medoc – S$41 per bottle (S$43.87 incl GST)
Doisy Vedrines, Sauternes – S$41 per bottle (S$43.87 incl GST)
Desmirail, Margaux – S$39 per bottle (S$41.73 incl GST)
Filhot, Sauternes – S$34 per bottle (S$36.38 incl GST)
Les Carmes de Rieussec, Sauternes – S$33 per bottle (S$35.31 incl GST)
Mauvesin Barton, Moulis-en-Medoc – S$26 per bottle (S$27.82 incl GST)
Ferran, Pessac-Leognan – S$24 per bottle (S$25.68 incl GST)
Lafite Rothschild, Pauillac – S$625 per bottle (S$668.75 incl GST)
Carruades de Lafite, Pauillac – S$185 per bottle (S$197.95 incl GST)
Le Plus de La Fleur de Bouard, Lalande de Pomerol – S$103 per bottle (S$110.21 incl GST)
Alter Ego de Palmer, Margaux – S$73 per bottle (S$78.11 incl GST)
Bellevue, St. Emilion – S$60 per bottle (S$64.20 incl GST)
Lafaurie-Peyraguey, Sauternes – S$50 per bottle (S$53.50 incl GST)
Kirwan, Margaux – S$47 per bottle (S$50.29 incl GST)
Prieure Lichine, Margaux – S$47 per bottle (S$50.29 incl GST)
Lynch Moussas, Pauillac – S$42 per bottle (S$44.94 incl GST)
La Tour Carnet, Haut-Medoc – S$39 per bottle (S$41.73 incl GST)
Cantemerle, Haut-Medoc – S$39 per bottle (S$41.73 incl GST)
La Fleur de Bouard, Lalande de Pomerol – S$37 per bottle (S$39.59 incl GST)
Bellevue Mondotte, St.Emilion – S$180 per bottle (S$192.60 incl GST)
Pavie Decesse, St.Emilion – S$145 per bottle (S$155.15 incl GST)
Monbousquet Blanc, St.Emilion – S$74 per bottle (S$79.18 incl GST)
Clerc Milon, Pauillac – S$62 per bottle (S$66.34 incl GST)
Coutet, Barsac – S$62 per bottle (S$66.34 incl GST)
La Tour Blanche, Sauternes – S$61 per bottle (S$65.27 incl GST)
Monbousquet, St.Emilion – S$51 per bottle (S$54.57 incl GST)
d’Armailhac, St.Emilion – S$51 per bottle (S$54.57 incl GST)
Clos Nardian Blanc, Bordeaux – S$43 per bottle (S$46.01 incl GST)
Du Tertre, Margaux – S$41 per bottle (S$43.87 incl GST)
Domaine de l’A, Cotes de Castillon – S$33 per bottle (S$35.31 incl GST)
Clos Les Lunelles, Cotes de Castillon – S$32 per bottle (S$34.24 incl GST)
Pavillon Blanc du Chateau Margaux, Margaux – S$181 per bottle (S$193.67 incl GST)
Pavillon Rouge du Chateau Margaux, Margaux – S$143 per bottle (S$153.01 incl GST)
Climens, Barsac – S$82 per bottle (S$87.74 incl GST)
Canon, St. Emilion – S$74 per bottle (S$79.18 incl GST)
Beausejour Becot, St.Emilion – S$62 per bottle (S$66.34 incl GST)
Sigalas Rabaud, Sauternes – S$59 per bottle (S$63.13 incl GST)
Haut Bages Liberal, Pauillac – S$56 per bottle (S$59.92 incl GST)
Lucia, St.Emilion – S$52 per bottle (S$55.64 incl GST)
Haut-Marbuzet, St.Estephe – S$47 per bottle (S$50.29 incl GST)
Durfort Vivens, Margaux – S$46 per bottle (S$49.22 incl GST)
Meyney, St.Estephe – S$41 per bottle (S$43.87 incl GST)
Bellegrave, Pomerol – S$40 per bottle (S$42.80 incl GST)
La Patache, Pomerol – S$35 per bottle (S$37.45 incl GST)
Joanin Becot, Cotes de Castillon – S$30 per bottle (S$32.10 incl GST)
Deyrem Valentin, Margaux – S$30 per bottle (S$32.10 incl GST)
Fonbel, St.Emilion – S$25 per bottle (S$26.75 incl GST)
Tauzinat L’Hermitage, St.Emilion – S$23 per bottle (S$24.61 incl GST)
d’Escurac, Medoc – S$22 per bottle (S$23.54 incl GST)
Du Retout, Haut-Medoc – S$19 per bottle (S$20.33 incl GST)
Chateau Margaux – S$450 per bottle (S$481.50 incl GST)
Angelus, St. Emilion – S$325 (S$347.75 incl GST)
Pavie, St. Emilion – S$325 per bottle (S$347.75 incl GST)
Palmer, Margaux – S$285 per bottle (S$304.95 incl GST)
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