Wine Spectator: Bordeaux 2011 Futures Fizzle As Customers Balk At PricesJuly 11, 2012
The 2011 vintage may be remembered as a missed opportunity for Bordeaux, says Wine Spectator. The wines were good, but not as outstanding as in 2010 and 2009, which meant Bordeaux had the chance to win back traditional markets like the United States during its annual springtime futures campaign if the wines were priced right. But while most châteaus reduced prices by 20%-50% compared to their 2010 wines, many 2011s were still costlier than older vintages currently on retail shelves. With the global economy still uncertain, particularly in the eurozone, buyers saw little incentive to participate in the en primeur campaign this spring.
“I was surprised at the pricing,” said Chris Adams, CEO of New York’s Sherry-Lehmann. “There were a handful of wines that I thought were priced properly, but the vast majority of what I saw, the prices were too high. I didn’t expect to have any consumer interest in this, so I couldn’t finance their overpricing.” Adams took only 15% of the allocations he had snapped up in 2010.
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