Bordeaux futures, wine investment, waste, insurance – sipped and spit
SPIT: Bordeaux futures
In recent years, Bordeaux futures ran up to tremendous highs (see above chart above for three top chateaus ex-cellars; compiled from data from The Times of London). Now, they may be poised to fall back to 2002 prices, which is what British buyers told the Times they were willing to pay. A Bordeaux insider told me recently that the first growths really should not cross the €100 threshold. But he admitted that they probably will after they hear nice things about their wines at the en primeurs tastings in early April.
SIPPED: Bordeaux past
In a blast from what seems a distant past, a new investment fund for wine is opens this month with allegedly 15 to 20 million pounds of assets. Investors will need to meet the 500,000 pound minimum for the closed-end fund. Send checks to Richmond Park partners Steven Berger and Pascal Maeter who will manage the Lunzer Wine Investments Institutional Fund. [Bloomberg]
SIPPED: industrial waste over Givry
The Burgundy village of Givry has to contend with plans for a new industrial waste treatment plant on the outskirts of town. Last year’s mayoral campaign was fought largely around this issue with an anti-plant activist winning town hall. But the regional authorities later approved the plant, winemakers sued, and now a tribunal has suspended the approval. Score one for the winemakers! Check out the story at washingtonpost.com.
SPIT: excise tax
California’s legislature approved a new budget without increasing the excise tax on wine.
SIPPED and SPIT: wine blogs
The wine blog award winners have been announced. Alas, this blog is not among them. But thank you for your clicks of support! And hearty congratulations to the winners! [Fermentation]
SIPPED: insurance!
A “Master of Coffee” (not Mister Coffee) in England has insured his tongue for £10 million ($13.95 million) via Lloyd’s of London (not to be confused with the newly nationalized Lloyds Banking Group, ahem). Take that Robert Parker–his policy is 14 times bigger than your policy! [BBC via sdelong]
On March 9th, 2009 at 1:22 pm ,Weston wrote:
So when do these wines get back to the 2001 prices? And I’m sorry I voted for Alder Yarrow.
On March 10th, 2009 at 2:45 pm ,Steve wrote:
Actually Lloyds’ London, the insurance exchange was not nationalized it was Lloyd’s Bank that the UK government took over.
On March 10th, 2009 at 3:36 pm ,Dr. Vino wrote:
Point taken, Steve. And corrected!
On March 10th, 2009 at 8:45 pm ,Dylan wrote:
Tyler, don’t worry about the awards. You still run a great blog and I continually look forward to the posts you have on here.
On March 11th, 2009 at 6:39 am ,gary wrote:
Recently tasted the Bordeaux 2006 wines at the UGC– overall not particularly good with huge underripe tannins and fruit.Where did the ratings and pricing come from or the comments about early drinking wines??? The prices for 2005 were too high and 2006 absolutely ridiculous for the quality of the wines.
I would not be a buyer of Bordeaux at all until prices come back down to 2002 levels or lower which would mean about $100 for first growth, with Leoville Barton/Pontet Canet in the $30-40 range. Otherwise I’ve got enough and there are plenty of minor chateau with very appealing 2004/2005 which are drinking nicely now for $10-15.
On March 31st, 2009 at 6:44 pm ,How much does that bottle of wine cost to make? Where $13 becomes $500 | Dr Vino's wine blog wrote:
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