Bordeaux 2013 Primeurs: Dreams & Reality
Bordeaux pricing in recent vintages is certainly worthy of close examination before committing to buying 2013. Some wines from 2010, a very successful vintage, have quietly declined in price since their release [source: Slurp Fine Wines], with a handful dropping in value by as much as 20%. This is even more true of 2011, some wines having declined in value by 30% since release and I expect the same will be true of the 2012 vintage when released. Such knowledge simply must be taken into account when looking at whether or not to buy in the 2013 vintage. Even if the vintage were of much better quality, there is no sense in buying wines when it is inevitable that they will be available at lower prices two years later. At this point they will be finished and in bottle, with a fresh round of reviews and scores available (on the wines now, not barrel samples), without any price premium to pay.
In 2013, with the Bordelais themselves having told us all that this was the worst vintage in thirty years, was it too much to expect the prices to fall correspondingly? Yes, it seems it was. If the Bordelais want to wine to sell during primeurs, price must reflect the quality, and must be favourable bearing in mind the risk the consumer is taking, giving the châteaux an unsecured two-year loan, for wines that have not yet been made, the consumers’ decisions made based on notes and scores from critics such as myself who have tasted only barrel samples that have been carefully prepared by the châteaux. It’s a risky business. En primeur prices used to reflect this.
Prices in 2013 no longer reflect the risk taken by the consumer, nor in my opinion do they reflect the overall quality of the vintage. Some have priced at a level equivalent to 2012, others have made token price cuts, some have slashed a little more, perhaps 10% or even 20%. Most cuts are too small though, leaving the wine more expensive than other finished and bottled vintages. Even when châteaux have correctly positioned the wine, ensuring it was cheaper than other physically available vintages, I still find a huge disconnect between price and quality. The vintage may be the best-priced on the market, but the wines are light and for early drinking, and yet they cost £50/€50/$50 based purely on the label. Ask yourself this; does that seem appropriate?
When you look at Bordeaux 2013 in this light, is it any wonder that it is difficult to find wines to recommend? Thank heavens for the white wines, both dry and sweet, otherwise this would be a very flaky end to my report.
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