Napa Valley wine: A guide for new collectors

Napa Valley may only provide around 4% of California's grape harvest, but even some merchants admit it's difficult to keep track of all the wines being made; from exciting, niche varietal bottlings to the sheer breadth of Cabernet Sauvignon-driven styles. You'll find plenty of tasting notes and ratings on Decanter Premium, including Matthew Luczy's first look at Napa Valley 2018 wines across the region's American Viticultural Areas . But we've also created an introductory guide to provide inspiration for collectors looking to get more involved in the Cabernet-dominant wines of Napa, including: Merchant and analyst commentary approaching the market Top names to know A closer look at prices Investment potential of top-tier wines Premium members: Get the full report exclusively via the Decanter Premium app. To subscribe to Premium click here If you haven’t upgraded your Premium subscription to include the app yet, please contact support@decanter.com Edited extract: Approaching the market [subscriber-content]Things have come a long way since Diamond Creek’s Al Brounstein released his Lake Vineyard Cabernet 1978 at $100-a-bottle. Several highly regarded, small-production ‘cult’ wines command lofty prices today. Names like Screaming Eagle and Harlan Estate can be found at higher prices than Bordeaux first growths, for instance. According to Wine-Searcher figures , the average global retail price of a ‘Bordeaux red blend’ from Napa Valley has risen by around 30% in the last five years, to average $193 per bottle ex-tax in September 2020. There are plenty of options further down the price ladder, say merchants. ‘If you’re a savvy shopper there are great wines to be had and you don’t have to spend an absolute fortune,’ said Ryan Woodhouse, domestic wine buyer at the California-based merchant K&L. Around $40 to $50 can be enough to get a great bottle, he added. One example in this area is Smith-Madrone, founded in Napa Valley’s Spring Mountain area by Stuart Smith in 1971, which recently released its 2016 Cabernet Sauvignon at $58, with only 1,375 cases produced. Decanter’s Elin McCoy rated the wine 94 points and described it as ‘very much a mountain Cabernet, with classic structure, cassis and graphite aromas, and deep, savoury red fruit flavours with hints of mint’. However, it's important to know your style. In Napa Cabernet alone ‘there is massive stylistic diversity’, said There is no right or wrong answer, of course, but both Woodhouse and Giles Cooper, buyer at BI Fine Wine & Spirits, advised new collectors to taste as broadly as possible to see where their palate sits. Some producers, such as Corison, Spottswoode or Mayacamas, have long been known for espousing a more restrained style. In terms of sales, Shaun Bishop, CEO of California merchant JJ Buckley, said, ‘We continue to see a move to somewhat more restrained and focused style.' He added, ‘Wines like Eisele, Dominus, Vérité, Kapcsandy, and the stable of wines from Jean-Charles Boisset are doing well.’ How the wines are sold While there is plenty available at retail level, direct sales are a significant part of the California fine wine scene. ‘Sixty one percent of sales come direct for a small winery, whether that’s tasting room or [winery] club sales,’ said Rob McMillan, executive vice president and wine division founder at Silicon Valley Bank. He said that the economic impact of Covid-19 had also pushed more wineries into online selling, as well as virtual tasting programmes with collectors – something he has long advocated for. Trade body Napa Valley Vintners hosted an ‘en primeur-style’ sale from 8 to 10 September, linking through to new releases from the 2016, 2017 and 2018 vintages at its winery members’ websites, for example. One-off wines created for the annual Premiere Napa Valley auction have also been made available online. Winery mailing lists offer some of the best opportunities to acquire new-vintage releases or acquire rarer, older wines. Some small-production cult wines are well-known for having waiting lists on new releases, such Harlan Estate, Screaming Eagle, Scarecrow, Schrader or Peter Michael. However, at BI, Giles Cooper said traditional selling models were shifting as more wineries sought to reach out to new collectors internationally. ‘They’re looking at how they can expand their distribution,’ he said, adding that BI has invested behind Napa on the fine wine market in recent years. Several top names sell a portion of their new-release wines to international merchants via Bordeaux Place in September each year . Opus One has done so since 2004, and other names from California in general include Sonoma’s Vérité, Napa’s Inglenook Rubicon, Joseph Phelps Insignia and Quintessa, plus L’Aventure from Paso Robles. This is an edited version of an excerpt from the report, ‘Decanter Premium Collector’s Guide: Napa Valley’ available on the Decanter Premium app. [/subscriber-content] Also recently published Napa Valley Cabernet 2018 vintage report California Cabernet 2016 panel tasting results

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New collector’s guide: Exploring Napa Valley

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Edited extract: Approaching the market

Also recently published

Napa Valley Cabernet 2018 vintage report

California Cabernet 2016 panel tasting results

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