Baroness Philippine de Rothschild of Chateau Mouton-Rothschild last night launched an impassioned defence of the high prices increasingly being demanded by Bordeaux's classed growths.
At a gala dinner to open Vinexpo for the world's wine press - and including guests such as French minister of agriculture Christine Lagarde - at the Pauillac first growth, the Baroness used her speech to defend her property and her blue-chip neighbours against criticism that wine lovers are being priced out of the market.
Referring to the 2005 vintage, she spoke of 'price levels that would have been
unimaginable a few years ago', before asking 'will those prices determine our
future, and if so, how?'
Latching onto a theme brought to the surface by much of the UK press - not least Decanter - in recent months, de Rothschild asked: 'What are our grand crus
classes today? A luxury product or something to share with friends? Something to
be drunk or a speculative investment? Should we fear that wine will one day quit
the cellar for the strong-room, the table for the display-case?
While de Rothschild didn't provide direct answers, she referred to the 'rare, if not to say unique product' of the classed growths, which relies on 'three trump cards: terroir, know-how and prestige', by way of endorsing high prices. She also suggested family estates were at a financial disadvantage to corporate-owned properties.
'Our future depends... on the fate of our family-owned companies. While a
certain number of crus classes are now entirely controlled and very well-managed
by big French or foreign firms, many of us are proud still to be independent
owners, backed by mainly family shareholders.'
But, she went on, family businesses are restrained by 'a more limited capacity to invest, exorbitant inheritance, taxes [and] the need to find heirs capable
of getting on with each other, involving themselves in the business and taking
risks. It is not easy.'
The speech took place against the backdrop of prices being released for the 2006 vintage at higher levels than many initially expected - in many cases closer to those of the 'fabulous' 2005 vintage than those of the 2004 with which the wines were initially compared.
The dinner, at which the 200-plus guests were served some of Bordeaux's finest vintages, including the highly-prized 1961 Mouton, ended with a astonishing firework display, which was set against a background of constant sheet lightning, the forerunner of a dramatic thunderstorm.
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If she thinks her grape juice is so valuable, let her keep it. This is quite the tableau: Ms. Rothschild telling us "its not easy" when you compare her asking price to what is widely known to be the real cost of producing a bottle of her wine .... approximately $15 or less. A box of tissues...please...someone hand me a box of tissues.
Andrew Skroback, New York City, USA
Uh, no one in a free market NEEDS to defend prices. But, it always seems, there are a lot more socialists or communists around than one might think, and all those in favor of price controls. Everyone loves a free market until it just so happens to adversely affect them, and then come the whines and moans. Suck it up.
John Kilbourne
I certainly feel sorry for the Baroness. What was the name of that Academy Award winning best original song? Wasn't it 'It is hard out here for a Baroness'? And the struggle to have 'heirs get along with one another', well that is just one of many of life's struggles, maybe next to obtaining food and water. Does anyone have the address where I can send her a cheque ? Bless her heart.
Chick Wells, Atlanta, Georgia, USA
at $500 a bottle, one is enjoying the taste of money rather than the singular, celestial flavors a $500 wine should give. oh, they are good wines all right, but one needs more money than taste to drink them.
Michael Sarro
Running a fine wine estate still has to have the same profit motive as any other business. I hope those who can afford Bordeaux Grand Crus drink them with as much gusto as I used to when I was in the trade and could afford them.
Peter W Le Fort
It's all in the title! I was laughing the moment it appeared. Upon finishing the article I was struck by a strange vision. It's VinExpo and the owner of arguably the greatest property of all is on stage defending the profits of their estate. An approaching thunderstorm cracks and booms in the distance while fireworks explode above. Most of the half drunk audience is in a clamor over finally being priced out of the First Growths. While back in the states the affluent and aspiring affluent, are in an addict-like frenzy. The world might as well be a desert. If not Mouton, then nothing. Could this be? Am I unaware of a class of wine drinkers whose refinement is so, that in a world awash in wonderful wine there is nothing to substitute these exquisite but laughable show pieces? I say put your energy elsewhere and drink up, today is the greatest golden age wine will ever see.
Anon
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