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Bordeaux 09 continues to distort market
Buyers may be letting the hype surrounding Bordeaux ’09 cloud their judgment in their rush to claim the “vintage of the century”.
Prices of Bordeaux’s 2008 vintage have been given boost by 2009, but at times it would appear that clients are spending disproportionate amounts of money for the latter vintage.
What is surprising is that wine critic Robert Parker often gave wines from 2008 similar if not higher points than their 2009 counterparts yet the latter vintage is often double the price of the former.
Undeniably, 2009 looks like it will appreciate well and is therefore the better choice for investors with money to burn on the big names.
However, for those with an eye on drinking whatever claret they buy without paying exorbitant prices, as pointed out by db back in March, 2008 must surely be the better option.
Two cases in point are Ausone and Lafite. According to Liv-ex, at the last trade Ausone 2008 came in at £7,200 a case. Meanwhile, 2009 closed at £13,200.
Surprisingly, Parker rated the 2008 Ausone at 96-100 points and 2009 down at 95-97+. Even with his follow up tastings giving Ausone a chance to go up in the rankings, why would anyone spend nearly double on 2009 for what was considered by Parker to be an inferior wine? Particularly as repeat tastings have been known to lower a château’s score just as easily as raise it.
With regards Lafite, both 2008 and 2009 were awarded 98-100 points, so theoretically both are of equal quality and potential. But whereas 2008 is a snip at a mere £8,000, 2009 is already creeping up to £12,000 a case.
At other times even a slight lead in 2009s’ points has led to a doubling in prices. Margaux 2009 has a Parker rating of 98-100 and is currently trading at £8,449.
The Margaux 2008 on 95-97 Parker points has so far hit £3,650. Cos d’Estournel is another. Parker, controversially in the UK trade’s eyes, gave Cos a 98-100 rating. In 2008 it was a more modest 94-96+. 2009 is sitting at £2,200 and 2008 at £735.
No doubt the only way for 2008 prices is also up but buyers would be wise to consider their options when picking their wines especially if they are buying for pleasure rather than profit.
Rupert Millar, 22.07.2010