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Tuesday 29 July 2014

Gazin first out of the blocks for 2012

15th April, 2013 by Rupert Millar

Château Gazin has fired the starting pistol on this year’s en primeurs by releasing today with a modest drop in price.

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Château Gazin: photo credit: the wine cellar insider

Well in advance of its neighbours and before even critic Robert Parker has released his provisional scores, Gazin has released with a price of €39 per bottle ex-négociant.

This is a drop of 7% on its 2011 price (€42) but, a sign of how far prices have come after the blockbuster 2009s and 2010s, is still 35% up on 2008 (€28).

There have been rumours that this week will see a flurry of releases as the Bordelais seek to inject some life back into the system after the disappointing and sluggish campaign last year.

It has also been said that a first growth may be among the early releasers. Lafite might be a good bet, as it released early last year (16 April) and actually sold moderately well and, as Liv-ex pointed out on its blog, it does tend to be a “law unto itself”.

Although it is a key issue every year, everyone will be watching the pricing this year once again with renewed interest.

After the heights of 2009 and 2010 there is still a feeling that market correction is on-going and that prices must come down.

On the other hand, the initial noises coming out of Bordeaux from the en primeur tastings seem to indicate a vintage that is “better” than 2011 if less homogenous.

Might certain châteaux take that as a suggestion that severe cuts need not apply to them? Even if they do, one négociant has already told db that this year will be a “hard sell”.

More on the initial reactions to Bordeaux 2012 can be found on the drinks business‘s website, where the campaign will also be followed in full as it develops.

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