Some Top Bordeaux Estates Release 2010 Futures Prices
June 9, 2011What had been a rather sleepy en primeur campaign for the potentially tremendous 2010 vintage took on new life this week with the release of prices from a few top estates, according to James Molesworth’s blog on the Wine Spectator web site. Châteaus Pontet-Canet (2010 barrel tasting score: 96-99 points) and Gruaud-Larose (93-96) released their 2010 pricing in what should spark many of their colleagues to follow suit. Pontet-Canet released its first tranche at 100 euros, a price that owner Alfred Tesseron said he derived from the average of three tranches for his 2009, plus 8.3 percent. Gruaud-Larose also opened with its pricing and is now being offered at 61 euros by the trade, up from 50 euros for the 2009. The futures prices to U.S. consumers will increase as the wine moves through the distribution chain, with the exchange rate also playing a big role.
There had been some trepidation going into the en primeur campaign following the 2009s, the most expensive en primeur pricing in history. Many Bordelais wondered if the global market, which is still experiencing economic woes, as well as the calamitous events in Japan, could sustain another high-priced Bordeaux vintage. And for the U.S. market, was there even interest on the part of consumers, who seem to have grown tired of Bordeaux in recent years? With some of the bigger names now releasing their pricing, early signs seem to point to cherry picking, rather than widespread buying.
While 2010 pricing for the most recognizable names seems likely to exceed 2009’s, there are some deals to be had. Château Malartic-Lagravière owner Jean-Jacques Bonnie released his 2010 red at just under 35 euros, down from his ’09 price of 36 euros. The move seems to be helping, as Bonnie said more than half of the allocations are already confirmed.
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