Just sent this over to decanter.com:
(by the way, all the prices I give are not ex-chateau, but the prices on the Place de Bordeaux, so the price that the negociants are selling on to UK merchants. They are around 18% higher than the price from the chateau, although this varies. Chateaux give a suggested re-sale price, but they can't dictate exactly what price a negociant sells the wine on for. If people sell it too low, however, they may withdraw allocations the following year.)
Following swiftly on from the Parker scores last week, the first prominent red wine properties have begun to release their prices for Bordeaux 2007s.
Among the first was Chateau Quinault L'Enclos, Saint Emilion grand cru, owned by Alain Reynaud (who got one of the best Parker scores of 91-93, bettering Lafite and Latour at 90-93). Despite the high score, he has come down around 15% from last year, selling on the Place at EUR20.
‘I felt that even though the quality was better than last year,’ Reynaud told decanter.com, ‘I wanted to set a price that would sell, taking into account the global economy, and allow others along the chain to make money. If we don’t do that, the basic mechanism of the en primeur system has failed.’
Twenty-four hours after release, Reynaud has sold 50% of his total 2007 stock.
Other properties to date have not followed this logic. Chateau Beycheville came out at a 5% drop of EUR25.50, while Sociando Mallet (unscored by Paker) remained almost the same as last year, just 50 centimes down on his release price of 2006, at EUR23.00. Sauternes properties have so far released at an average of 5% above 2005, with Rieussec leading the pack at an eye-watering rise of 30% on last year.
Most observers feel that prices will now come out fairly quickly, ready for VinExpo Hong Kong at the end of the month.
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