Last year in our blog if you recall, we talked about how Bordeaux was buzzing. Everybody was happy, the emerging markets were buying like crazy and the hint of a “crisis” in the world was only coming from us Americans… who they all ignored. My, how things have changed…
Our day with the negoce. Always interesting discussing the market (or potential lack thereof) with the middle men that run the whole shooting match. Seems like Bordeaux is sweating it a little bit. Lots of unsold stocks right now, including the latest albatross that ends with a ‘7’, 2007. (As an aside, what’s up with that? 57, 67, 77, 87, 97 and now 2007, all pretty much crap to mediocre vintages. I’m already making plans to not have any children born in 2017.) Tensions are high and, as Bob Marley said, “the battle is getting hotta..”. If the Chateau come out en primeur at crazy high prices could it be the end of the futures system? The negoce won’t bite, the merchants and importers won’t bite, the Chateau will left sweating it out. Hey, everybody on this side of the market realizes the chateaux have to come out strong and low to repair the damage done with the pricing the last several years……. except the chateaux. These cats are playing it pretty close to the vest and hoping/praying that the economy pulls itself together and all will be able to afford their wines at the current prices. Not a single chateau owner that we’ve talked to has come out and stated that there needs to be a correction. They’re not blinking, and there is fear (at least on our part) that this whole thing is going to drag out again, every chateau staring at each other saying, “you go first”. Ugh. Little do they want to realize (though they do), that buyers need to get out of a futures campaign that which they used to get, namely a deal on a great wine, a reward for plunking your hard-earned dollar down two years before the wine is released…the way it used to be. Without that incentive we don’t see much point.


