Bordeaux 2009 pricing expected to be late and expensive

As merchants return from en primeur tastings in Bordeaux, speculation is becoming increasingly focused on the upcoming prices from the châteaux.

The demand for leading labels is predicted to be extremely strong from the Far East and several commentators have suggested that prices for Lafite and Latour will start at £4,000 to £5,000 a case.

Simon Staples, sales and marketing director at Berry Bros & Rudd, noted that many châteaux were still awaiting the judgement of Robert Parker before releasing any prices, but said: “Some will get it spot on, others will completely miss their price and timing of release slot, and others will release at the right price and double it overnight.

“Whatever happens, those who buy will end up with some totally sublime wines in their cellar and at all price points.”

Parker will publish his scores in the coming weeks but during his tastings he tweeted: “Don’t expect 2009s to be reasonably priced, too much demand world-wide…”

James Suckling also tweeted during his tastings: “Prices for 2009 Bordeaux are going to be really inflated for the top stuff.”

The strength of the euro will exacerbate price increases for those outside the euro zone.

For instance, Bordeaux Index pointed out that the sterling is 26% down against the euro compared to 2006, meaning prices could well be 26% higher in the UK than they were for the 2005 vintage.  

Many leading châteaux may not announce prices until May’s Vinexpo in Hong Kong, meaning that release prices are likely to be both late and expensive.

According to Sam Gleave at Bordeaux Index, 2009 Bordeaux is stirring interest in Asia and the region may take its first tentative steps into en primeur buying.

“We expect the strongest ever demand for this en primeur campaign,” he said. “This vintage is attracting interest from buyers who previously haven’t bought en primeur, most notably investors in the Far East. As a result, we have huge funds lined-up for the vintage. We are sure this will be a record vintage for the company.”

Jancis Robinson MW was less than convinced though and tweeted pointedly: “wonder where all these famous Chinese buyers of #bdx09 are? Haven’t seen one myself.”

En primeur opinions

Staples has described 2009 as “brilliant” but while the wines eclipsed those of 2005 for a number of producers it was by no means a universal trait.

“Quite a lot of the Merlot-dominant wines of the Right Bank are off balance with very harsh, high alcoholic levels. Also, the lesser red wines of 2009 are not as soft and yummy as their counterparts from 2005,” he said.

Cos d’Estournel was described by one American critic as being too alcoholic, syrupy and dank and full of “tons of raw oak – brazenly crass.”

Michael Schuster wrote that: “It looks as though many 2009s, though by no means all, will outclass their respective 2005s. In particular their tannins, especially those in Médoc Cabernets, will be more refined, their textures more polished.”

There have been many remarks on the quality of the second wines and Schuster predicted that second wines would prove “a good hunting ground for bibbers, as distinct from investors.”

Chris Davey, managing director of OW Loeb, commented that there were: “Decent quantities of wines which at their best are truly great,” but added “prices amongst those sought after wines will be high I’m afraid.”

Rupert Millar, 08.04.2010