Chateau Lafite 2008 has shot up in value after last night's release of Robert Parker's scores.
The American critic published his verdict, comparing it to both 2005 and 2000, at around 11pm UK time last night.
He writes in the Wine Advocate newsletter, 'It did not take me long to realize that the 2008 vintage was dramatically better than I had expected...excellent, with a number of superb wines that are close to, if not equal to the prodigious 2005 or 2000 vintages.'
According to Liv-ex, Chateau Lafite – one of his wines of the vintage – was trading at £2000 per case last night, and by this morning was changing hands for £3,500.
'It's down now to about £3000,' Liv-ex's Jack Hibberd said. 'But it shows the Parker effect is still strong.'
Parker's comments are at odds with the UK trade, which has maintained that the wines are better than expected but not overwhelming. Except for a few exceptions, however, merchants are now endorsing Parker.
Justerini & Brooks and Farr Vintners have published the scores with little comment. J&B said, 'Mr Parker has presided over the 2008s, and he likes them - a lot.'
But Berry Bros called them 'bewildering', and Armit warned 'correct pricing' would still need to be applied in order to sell the wines.
Simon Staples, Berry's sales and marketing director, said he was worried the en primeur campaign 'could be stopped dead' if the chateaux that received rave reviews from the American critic decided to increase their prices.
'No-one else believes this vintage is outstanding,' said Staples. 'Parker went crazy about 2003, on his own, and he missed 2005 when everyone loved it and now he is screaming about 2008, when we just think it was better than we had hoped for.'
Parker wrote in The Wine Advocate, '[The vintage] appears to be a notch below 2005, but it is better than any other vintage of the last decade except 2000,'
Wines of the vintage according to his scores are Chateau Lafite and Petrus, both at 98-100. Pomerol came in for particular praise, and Petrus was described as better than the 2005.
All first growths got over 94 potential points, with the lowest being Mouton at 94-96. Parker also reviewed a much larger number of wines than last year – over 400 reds and around 50 whites, including Sauternes.
'Twenty-three wines get in excess of 95 points, which is a big endorsement of the vintage,' said one well-placed Bordeaux negociant. 'Leoville-Las-Cases got a better score than three of the five first growths (95-97+), and Pontet Canet got a particularly good score at 96-98+.
'Chateau Haut Bailly got 95-97, and all three are yet to release their price. This may well affect their decision-making.'
James Wormall, director of private sales at Jeroboams told decanter.com, 'The scores are a double-edged sword. They will help the campaign on wines that are already out – people who thought Palmer was overpriced two days ago, are now wading back it.
'But I am worried about wines that are not yet released, and the second tranches of the top wines. It remains a drinker's vintage not a speculator's vintage, and if the prices are incorrect, the campaign will grind to a halt. We have seen some very sensible pricing so far, and let's hope it continues.'
Selected Wine Advocate scores for Bordeaux 2008
Ausone 96-100 ('flirts with perfection')
Cheval Blanc 95-97 ('should evolve for three decades or more')
Cos d'Estournel 94-96+ ('should gain weight, richness, and a few Parker points by the time it is bottled')
Le Dome 95-97
La Fleur Petrus 92-94
Fombrauge 90-92
Haut Brion 95-97 ('seemingly light on the palate, but very intense in flavor')
Lafite 98-100 ('one of the most profound young wines I have ever tasted')
Latour 96-98 ('Damn me for saying it, but I actually think the 2008 Latour will turn out to be even better than the 2005 or 2000')
Leoville-Barton 92-94
Margaux 95-97 ('a superb vintage for Chateau Margaux')
Montrose 95-97
Mouton 94-96 ('charmingly forward and fleshy')
Palmer 95-97
Pape Clement 94-96
Petrus 98-100 ('destined to be one of the greatest Petrus ever made')
Smith Haut Lafitte 93-95
Troplong Mondot 95-97
Valandraud 92-94
Have your say... To post your comment on this story, email us at news@decanter.com
This, Ladies and Gentlemen, is one of the most serious and balanced news articles to appear on Decanter.com in a very long time. The comments and overall assessment of the situation is absolutely spot on. If the Chateaux that have not yet released their prices think they can ride the "wave of success" on the basis of two wines selling through and increasing in price, they are in for a serious lesson to be taught them. As of today, before they all go on Holidays for Labour Day, there's a huge number of wines, with very good Parker scores indeed, all available in the market; both in Bordeaux and in the UK Trade...don't let the madness of a couple of wines with mega scores go to your heads and think it applies across the board...for it does NOT! The Chateaux in question should stay honest and give people a chance to buy the wines at the same "reasonable" prices that most of the other Chateaux came out at pre-Parker scores, and you can have a reasonably successful campaign...do otherwise, and you'll be pounding the halls of Vinexpo in June, searching for customers...
Gil Lempert-Schwarz, Las Vegas, Nevada, USA
It beggars belief, and one can only think that the Bordelais must be delighted with the Parker campaign, one wonders why he is so out sync with the majority of the Press and Trade, one can only speculate (privately!) on the reasons why!
Yes the wines are better than expected, and in my opinion, being old, it will turn out like the 1962's! Good great for drinking over the next 5-10years but no where close to the 2005's!
Charles Hawkins, Rutland, UK
So Parker is at odds with most normal thinking people. Plus ca change. Remember 1989 - the hottest vintage of the 20th century? Parker raved about it initially and the prices shot up. We mere mortals knew that a super hot vintage means poor acidity and therefore lack of staying power, but... He changed his mind 2 years later, but by then the damage was done.
John Lamond, Clackmannanshire, Scotland
Your headline gets it right - Parker has caused the price of Lafite to rise. The first line of your report is wrong: the wine's inherent value remains the same. Doe this episode not show how the Bordelais cannot win: if their opening prices are high, they are accused of greed; if those prices are reasonable, the lunacies of the market put vast profits into the hands of those who have invested in wine but contributed nothing to the intense work which went into its making.
Tim Hartley
The only good news here is that the publication of Parker's ratings for the 2008s has, at least, led to a bit of a pause in the campaign. That would not normally be a good thing (generally speaking, the shorter the better), but this year I think it may well be. Many of us feared that high Parker ratings (such as were perhaps likely given the character of the vintage) would result in an immediate step-up in prices, with chateaux releasing post-Parker, as it were, doing so at a significantly higher level than those releasing pre-Parker. This may well still happen (indeed, I would be amazed if, to some extent at least, it did not). However, the pause that we now have in the campaign will allow chateaux proprietors to see that, with the notable exceptions of the wines from the Lafite stable (Duhart, Carruades and Lafite itself) and one or two others (Pichon Lalande being the clearest example), generous release prices and high Parker scores have not led to large upward movements in prices on the secondary market. Chateau Gazin is, perhaps, a telling example - despite its exceptional Parker rating of 94-96 and praise from many other critics (traditionalists and modernists alike), it can still be had for its initial release price of c.£340. I just hope that those still to release have been watching - otherwise Simon Staples' fears may well be realised. A step-up in prices now that Parker has spoken will stall the campaign and undo much of the good that has been done over the last 3 weeks.
Colin Hay, University of Sheffield, UK
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This, Ladies and Gentlemen, is one of the most serious and balanced news articles to appear on Decanter.com in a very long time. The comments and overall assessment of the situation is absolutely spot on. If the Chateaux that have not yet released their prices think they can ride the "wave of success" on the basis of two wines selling through and increasing in price, they are in for a serious lesson to be taught them. As of today, before they all go on Holidays for Labour Day, there's a huge number of wines, with very good Parker scores indeed, all available in the market; both in Bordeaux and in the UK Trade...don't let the madness of a couple of wines with mega scores go to your heads and think it applies across the board...for it does NOT! The Chateaux in question should stay honest and give people a chance to buy the wines at the same "reasonable" prices that most of the other Chateaux came out at pre-Parker scores, and you can have a reasonably successful campaign...do otherwise, and you'll be pounding the halls of Vinexpo in June, searching for customers...
