The Bordeaux 2010 campaign is the slowest for a decade, according to brokers' figures in Bordeaux.
Sociando: price drop
This week has seen a far brisker pace of wine releases, but overall around 100 fewer wines have been released than at the comparable stage of the 2009 campaign.
The latest release is Sociando Mallet, priced at €22.50 per bottle, 15% down on last year.
Other releases have seen some price drops, including Chateau Rieussec in Sauternes (-12.5% at €48 ex-negociant), Chateau Lilian Ladouys in St Estephe (-14.29% at €10.90 ex-negociant) and Chateau Fonplegade in St Emilion (-11.9% at €22.20 ex-negociant).
Others have raised their prices, including Chateau Serilhan in St Estephe (+9.9% at €12 ex-negociant), Chateau Pique Caillou in Pessac Leognan (+5.56% at €11.40) and Medoc cru bourgeois Chateau le Clare (+13.8% at €8.40 ex-negociant).
The majority seem to have played it safe and held prices, with the most well-received including Chateau Capbern Gasqueton at €11.50, Fugue de Nenin at €16.80, Chateau Brown at €14.20 and Chateau Fayat at €19.50.
Simon Davies at Fine & Rare in London told Decanter.com he was being offered many estates for the first time, indicating a move from smaller estates ‘to get in on the en primeur act’.
‘The only significant release so far has been Beychevelle, which went well because although they raised the price, they kept it below the market value of the 2009 and the 2005, which meant there was value in it. Other properties would be wise to follow this strategy.’
At Berry Bros, director Simon Staples said the sluggishness of the market was due to ‘everyone wanting to go up in price but the market saying no’.
There was a danger, he said, of the market losing interest – as was evidenced by the fact he had sold only 500 cases of Sociando, when this time last year he had sold three times that amount.
He agreed with other highly-placed Bordeaux figures, that with only 18 working days to go before Vinexpo it was unlikely any of the major properties would have released by then.
Written by Jane Anson in Bordeaux, and Adam Lechmere
