Spoke to a few heavy-hitter wine merchants about the 2005 Bordeaux, and they seemed a little concerned. They said that they had not had the unbridled demand that they had expected for Bordeaux’s newest vintage, especially compared to 2000. The English market is taking what has been offered so far, but it is working with a strong currency. And other European markets are doing well enough. But there is a question mark with the U.S. market.
Granted, the top names have not been released yet. And they probably won’t be until next week or the week after. But wine merchants I know who are buying in Bordeaux and then selling to the wine trade in the States are concerned that the American consumer is not going to pick up large quantities of these top name wines that are going to be very, very, very expensive. Moreover, they expect prices to be so high from Bordeaux that there will be very little margin left for them to make money.
Another point that I want to make is that the dollar is almost $1.30 to the euro. What happens if it is $1.20 or $1.10 when the wines finally become available in bottle in a couple of years? With the prices already so high for 2005, I don’t expect much price appreciation in many wines. There might not be any price advantage for Americans to buy 2005 futures. So it might be better to wait on the 2005s. Then again, I might have it all wrong. Tricky business all this….
Guus Hateboer — Netherlands — June 3, 2006 2:43pm ET
Steve Duffy — USA — June 4, 2006 10:26am ET
James Suckling — — June 4, 2006 12:29pm ET
Steve Duffy — USA — June 4, 2006 6:45pm ET
Peter J Skalaban — June 4, 2006 10:09pm ET
Steve Dubois — Ellijay, GA — June 5, 2006 1:38pm ET
David Weber — Brights Grove Ontario — June 5, 2006 6:28pm ET
James Suckling — — June 6, 2006 4:55am ET
James Peterson — San Antonio, Texas — June 7, 2006 3:56pm ET
Guus Hateboer — Netherlands — June 8, 2006 3:27am ET
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