Burgundy 2010 release - our little secret.
Banks on the verge of collapse, the Euro on the cusp of destruction - Happy New Year one & all... Yes really... It will be.
The world of wine investment has thus far gone relatively unscathed, a small amount of realignment in certain areas - yes Bordeaux 2010, I mean you. But on the whole the new markets in the east & a more responsible approach by most to longer term returns have once again shown wine to be a sturdy block in any investment portfolio.
And so, early January brings us the release of the new Burgundy vintage & here's a little secret for you... now may be the right time to get involved.
Burgundy has thus far escaped the grasp of the commodity investors. Even for top estates prices are still thankfully humble in comparison to their Bordeaux brethren. But that could be about to change. Interest is beginning to mount & even the east is beginning to show interest... & Bordeaux is the perfect model for what could happen next.
We do of course have to include here our legally required footnote that wine values can go down as well as up. But at least with what's looking like a good vintage on the cards we'll have some mighty pleasurable drinking if it does - 'please drink responsibly'... Doh!
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Bordeaux 2010
Could Bordeaux 2010 possibly rival the now fabled heights of its predecessor? Could early reports of big successes be for real, or smokescreens to pave the way for more price increases on top of some already eye-watering prices?
I tried to approach the vintage with an open mind, these wines had to have a fair chance to impress – many fine to great vintages spring to mind, that have remained in relative obscurity because they followed even greater (or at least better showing) vintages. I had also had discussions late last year with a number of folk involved in the Bordeaux wine trade who had expressed deep concern at drought stress in the vineyards, reports of little more than 5cm of rain for the whole vintage would surely have affected the fruit?
Over the last few weeks I’ve had the opportunity to taste a good selection of wines from this vintage & yes on the whole it seems to have been a success, but there are buts… & some big buts at that. This is definitely a ‘wine makers’ vintage – that sounds like a strange thing to say, but as I suggested above after harvest last year there were some widespread concerns. Chateaux practicing careful selection (more on that & Captain Birdseye’s influence later…?) & skilled craftsmanship in the cellars seems to have not only saved the day for many, but in some cases produced quite spectacular & intriguing wines.
What happens to the prices remains to be seen, my thoughts are that this may be a long drawn out affair, first tranches being released in tiny quantities to test the market & brave folk chancing their luck with potentially ever steeper increases in prices – also how will the Chinese & other ‘emerging markets’ affect the outcome? I guess we’ll just have to wait & see.
… Nearly forgot to expand on the Captain Birdseye reference earlier. After a number of discussions with other folk in the trade I have this thought. Obviously vintage styles have changed significantly over the last 30 or so years. I don’t think anyone can argue that wines from the great 82 vintage can ever really be compared on an even platform to say the 09’s; techniques, technology & to some extent customer tastes have changed, so it’s fair to say that the style of wines coming out of Bordeaux have changed as well. But, are we at the point now where the bigger, more famous, more affluent (to be blunt about it) Chateaux can no longer make iffy or second rate wines – even in less than perfect vintages? I hear tales of optical sorting machines in use at the top wineries – machines originally used in the pea industry (ah the Birdseye connection) to ensure fast, efficient & perfectly accurate sorting of the peas in the rush to get them frozen as quickly as possible. These machines – now replacing the traditional sorting table are capable of sorting grapes by colour, size even sugar content so that only perfectly formed berries are used in the end product. Another case of human error or inaccuracy being replaced by a machine. Will this be the start of homogenous wines, created to ensure their value as a commodity never falters? Well it’s got me thinking…
Meanwhile, sit back & enjoy the bumpy ride – Bordeaux 2010 is about to kick off.
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What is En Primeur?
A simple guide...
Traditionally the first point at which wines from a certain vintage are made available for purchase by the public. The wines are usually not available for delivery for a number of months if not a couple of years, but... historically it's the cheapest point at which to purchase the wines - so often used as a major stock filler in wine investment portfolios. Wine out performs most other investment options when looked at over any 20 year post war period (plus what else gives you so much enjoyment if you decide to dig in?).
If you're thinking of looking at wine as an investment tool or thinking of giving someone a special gift for the future or maybe just looking to start up your own cellar we can help you out on all fronts. Contact the shop to have a chat with our experts.
(As with all financial investment products - values can drop as well as rise - but hey at least there's some good drinking to be done if it does)!!!