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.
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.