Telling time for Bordeaux as more top chateaux lower their prices
The pricing of Bordeaux 2011 is being closely watched as experts were advising the châteaux to drop prices and sell quickly or suffer the consequences. Initial releases saw only a 2% to 11% reduction in 2010 prices and critics were quick to slam this as not dramatic enough. Now we are seeing more realistic reductions on last year's pricing with the latest release Ducru Beaucaillou, down by 50% on last year to €75 per bottle. Another release this week was Vieux Chateau Certain, seen by many as the wine of the vintage, down to €96 from last year’s €180. Chateau Ausone is also down by around half, albeit still at €500 ex-Bordeaux. Lafite chose to release both Carruades, unchanged from last year at €108 ex-Bordeaux, and Duhart Milon at €57, down by 36%.
Other chateaux released this week were Beausejour at €50.30; Larcis Ducasse at €34.20, down by 31.33%; Chateau Brane Cantenac at €31.20, down by 42%; Pavie Macuin down by 49.23% to €39.60 and Chateau Talbot down by 33.3% to €26.40.
Asian demand for new releases has slowed. Although some economists believe investors will move into wine as a safe haven from volatile financial markets, traders Liv-ex have seen little evidence of this with its' fine wine investment index falling by 4% in May and further falls expected.