Today Latour and Margaux (two potential 100-pointers in my mind) put their 2005 futures on the market for 350 euros ex-chateau to the Bordeaux wine trade. They were quickly trading at 410 to 420 euros to clients around the world. So American consumers are looking at $700 a bottle with change for these wines as futures.
The few wine merchants I spoke to said that they sold out their allocations in a few hours and clients were coming back for more. “And it was not speculators,” said one in Bordeaux. “It was traditional customers who sell to people who drink. Customers in Holland, Belgium, Denmark, Ireland, England and the United States.”
It’s a free market. And people are buying. So I guess there is no problem. I was overly nervous or something. (I am still scared!) The market had borne the price. At least that’s the word on the Bordeaux wine street.
I guess there are enough people in the world to buy these hyper-expensive young wines – reds that they won’t see for another two years. (I don't completely believe that they are not speculators, by the way.)
My wine merchant friend did say, however, that he wasn’t sure what would happen afterwards. He didn’t know if there would be a problem for his clients to sell through to the end consumer.
That’s the big question.
My buddy also said that next week the “right bank follies” will release their prices: Le Pin, Cheval-Blanc, Ausone and Pétrus.
The sky is not the limit. How about the stars?
John Danza — naperville, il — June 23, 2006 1:49pm ET
Jeffrey Ghi — New York — June 23, 2006 3:28pm ET
Glenn Lucash — June 23, 2006 4:56pm ET
Tim Sylvester — Santa Monica, CA — June 23, 2006 5:33pm ET
Nels Peterson — June 23, 2006 7:02pm ET
Calvin E Harvell — Waldwick, N.J. — June 23, 2006 8:52pm ET
Jim Burgunder — Rheinfelden — June 23, 2006 10:56pm ET
Scott Cheney — Michigan — June 23, 2006 11:16pm ET
Guus Hateboer — Netherlands — June 24, 2006 3:02am ET
Guus Hateboer — Netherlands — June 24, 2006 3:06am ET
James Suckling — — June 24, 2006 5:18am ET
Peter J Gatti — Austin, — June 24, 2006 10:18pm ET
Andre Loy — Singapore — June 25, 2006 2:59am ET
Jesper Nielsen — June 25, 2006 3:50am ET
Glenn Lucash — June 25, 2006 11:33am ET
Bonhomme Nicolas — france — June 25, 2006 12:44pm ET
Apj Powers — Dallas, TX — June 25, 2006 11:11pm ET
Calvin E Harvell — Waldwick, N.J. — June 26, 2006 1:03am ET
Andre Loy — Singapore — June 26, 2006 7:54am ET
Brett Roush — Tucson, AZ — June 26, 2006 11:37am ET
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