Most people agree that two reasons exist to buy Bordeaux futures. The first reason is to save money. Basically, the future should cost less than when the wine is finally sold in bottle. The second reason is to secure early the specific wine that you want, which can be important for limited-production or super-popular wines. I am still not completely sure the first reason is going to be very valid this year in view of the super-high prices for many wines (not to mention the weak dollar). The second reason is definitely justifiable. If you want a particular wine in 2005 and you want to be sure to get it, then you should buy futures – plus you can get the bottle size you want, from halves to imperials.
The question now is if you want it bad enough and if you can afford it. For example, Cos d’Estournel came out to the trade today in Bordeaux at 100 Euros a bottle, which means it will probably cost you more than $200 a bottle. Ask yourself if you want it bad enough.
A friend just told me he decided to buy some 2005 Malescot-St.-Exupéry at about 60 bucks a bottle, despite that the chateau doubled its price this year. It is a 95-100 point wine in my opinion and the best ever from the estate. Not a bad buy in all consideration.
I wonder what others are considering? It’s obvious that everyone is going to buy less with the wines being more expensive than expected.
(I spoke to a number of big buyers of Bordeaux around the world and they still believe that a bid system is going for Haut-Brion 2005 ... strange and speculative times for futures.)
Gil Schwarz — Las — June 15, 2006 2:08pm ET
Guus Hateboer — Netherlands — June 15, 2006 2:45pm ET
Greg Malcolm — St. Louis, Missouri — June 15, 2006 3:07pm ET
Leonard Conniff — California — June 15, 2006 3:26pm ET
Bryan Evans — New Orleans, LA — June 15, 2006 4:57pm ET
Ralph Lima — Los Angeles, Ca — June 15, 2006 9:12pm ET
David A Zajac — June 16, 2006 8:47am ET
J E Shuey — Dallas, TX — June 16, 2006 9:41am ET
Anthony Clapcich — June 16, 2006 1:59pm ET
Chris Alexander — Moraga California — June 29, 2006 1:11pm ET
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