(More wine news on www.vitabella.fr) I was recently reading a discussion between wine professionals on a social media website. In fact, networking is great on those social media sites and information you can pick may be very useful. The story started with a message posted a few days ago: "The Fine Wine Bank has a special inventory of Rare & Fine Wine thats storage at London City Bond is about to expire. We are looking for buyers for these 90+ scored wines please enquire for the list."
Then started a discussion and potential buyers (mainly from US) were showing strong interest and wanted to receive the whole list. A first major issue was rapidly raised: individuals in the US will have to pay to have it shipped & imported including taxes and this will greatly change the prices of the wines. But this did not discourage most of them as passion comes first.
Then potential buyers started receiving the list by e-mail and discovered that "the offer is all Australian wines" as one mentioned on the forum. "Prices with logistics make these wines totally uninteresting in the US. Aussie cult wines are in the dumper and can be snatched up very affordably (read CHEAPLY) all over the place." was written on the wall.
But at this stage my view had not changed: Passion comes first and Wine, more particularly exceptional wines (or cult wines if you prefer this wording) is a beautiful world full of emotions and passions. And as was mentioned by the person who initiated this discussion in the forum: "Great wine is still great wine and this wine list is about cult autralian wines."
In fact, each visit in Australia is a great opportunity to taste excellent wines. Red or white, great australian wines can show power and elegance with a lovely balance you would not expect if you still think about the big, powerful and mouthful Barossa Valley style you were served, most of the time, 20 years ago. Add to this, lovely and exhuberant aromas and it makes me call some of these wines unique. But Australia is going through a terrible crisis and its cult wines may suffer from this period. Fast replies and short texts make Social medias very severe in the way they send a message. On the same discussion forum, a wine professional replied to the preceding message: "Great wine is indeed great wine - but current pricing structures on given products that result from over supply and lack of demand in any open market are neither deniable nor are they reliant on a critics opinion. I wish it were not so & that Aussie cults were still worth their purchase prices from pre-Oct 2008 - but they are simply not in this market." In fact, Aussie cult wines are suffering from a general crisis in Australia where over supply is a major problem. At their best, some of the Aussie cult wines were compared to First Growth Bordeaux and prices were in accordance with this ranking. Now Prices for top Bordeaux wines have outreached, by far, those of the top Aussie wines. This is what we could call the short-term impact. But, to avoid the long-term impact, Aussie cult wines should be careful in the way they will communicate in the future. Why? Because, in the long-run, they may lose their lure and destroy 30 years of hard work to be among the most sought-after luxury wines in the world. (More wine news on www.vitabella.fr)
10.18.2010
10.12.2010
The day when top restaurants will propose an impressive wine list, a unique food experience and Grand Cru Coffees...
(More wine news on www.vitabella.fr) Having lunch and dinners with fine wine merchants, I am always amazed when we are served a poor coffee after having tasted first growth Bordeaux wines and Grand cru Burgundies. The experience is even more difficult after having spent 4 years as president of the Cafeology Academy of coffee, an academy that delivers prizes to the best coffees in the world.
Most of the time, between wine experts, we like to share experiences we had recently with some wines. At the restaurant, it is not uncommon you share these ideas with sommeliers who are in charge of making proposals for the wine you will be served with your food as well as preparing it (tasting, decanting...). It is a great enjoyment for wine lovers to share with these people as their knowledge is broad and updated. Sommeliers have the chance to taste on a regular basis a large range of wines from all over the world, to discuss with vintners, to visit properties and understand why the wine tastes differently here than in any other property.
After having made a tough choice between a large offer of wines (wine experts are always long to make a choice in restaurants, they do not agree about the vintage and so on...), you start tasting and sommeliers come to your table to give you some more information. They talk about the taste and move to terroir expressions, the fact that soils are very important and give a unique taste to the wine depending on which location the vineyard is. They explain that, plot by plot, the grapes can express different aromas and show a more or less intense minerality.
And then, after this lovely food and wine pairing experience, all this should end up with the proposal of having a "Ethiopia or Guatemala?" coffee. At this level of knowledge and understanding (from both side, sommeliers and wine lovers), you would expect more than "here is your coffee from Guatemala" sentence. No word about the terroir, no word about the producer, no word about the area and nothing about the vintage. Could we imagine today, in a top restaurant, being served a wine without knowing anything else than the country it comes from?
A team from the francogerman TV channel Arte came yesterday to Paris for a brilliant Coffee Grand Cru Tasting to which I attended. We tasted impressive coffees from Panama: one obtained 1st Growth level ranking according to the academy's criteria and another the 2nd Growth level. Like great wines, great coffees do not come cheap. The prices for these coffees go up to 300US$ per kilo directly from producers. And after tasting these coffees, the whole TV team was keeping asking: What are top restaurants waiting for to serve these coffees? (More wine news on www.vitabella.fr)
Most of the time, between wine experts, we like to share experiences we had recently with some wines. At the restaurant, it is not uncommon you share these ideas with sommeliers who are in charge of making proposals for the wine you will be served with your food as well as preparing it (tasting, decanting...). It is a great enjoyment for wine lovers to share with these people as their knowledge is broad and updated. Sommeliers have the chance to taste on a regular basis a large range of wines from all over the world, to discuss with vintners, to visit properties and understand why the wine tastes differently here than in any other property.
After having made a tough choice between a large offer of wines (wine experts are always long to make a choice in restaurants, they do not agree about the vintage and so on...), you start tasting and sommeliers come to your table to give you some more information. They talk about the taste and move to terroir expressions, the fact that soils are very important and give a unique taste to the wine depending on which location the vineyard is. They explain that, plot by plot, the grapes can express different aromas and show a more or less intense minerality.
And then, after this lovely food and wine pairing experience, all this should end up with the proposal of having a "Ethiopia or Guatemala?" coffee. At this level of knowledge and understanding (from both side, sommeliers and wine lovers), you would expect more than "here is your coffee from Guatemala" sentence. No word about the terroir, no word about the producer, no word about the area and nothing about the vintage. Could we imagine today, in a top restaurant, being served a wine without knowing anything else than the country it comes from?
A team from the francogerman TV channel Arte came yesterday to Paris for a brilliant Coffee Grand Cru Tasting to which I attended. We tasted impressive coffees from Panama: one obtained 1st Growth level ranking according to the academy's criteria and another the 2nd Growth level. Like great wines, great coffees do not come cheap. The prices for these coffees go up to 300US$ per kilo directly from producers. And after tasting these coffees, the whole TV team was keeping asking: What are top restaurants waiting for to serve these coffees? (More wine news on www.vitabella.fr)
10.08.2010
Should we believe Bordeaux Vintners when they will call 2010 a great vintage?
(More wine news on www.vitabella.fr) Most of you may remember the strong interest shown by international wine merchants in the 2009 vintage in Bordeaux. Most of the superlatives have been used by journalists to describe this vintage. In french, in english, in chinese and in thousand other languages.. It would be difficult to find new words if another great vintage comes to the market. In fact, this vintage could come very soon as we have to admit that, at a very early stage, 2010 appears to reveal a great to outstanding potential. It is not a matter of overstating but it looks like, after a tasting of "in process" wines, 2010 shows an extremely good potential. Too dry, difficult flowering, millerandage...All this does not sound like a great vintage. When compared to last year conditions, it is certainly different as Mother Nature gave the best of herself in 2009 with a "no worry" effect on vintners. This is not the case at all for 2010 but the tasting of grapes on vines, the look at analytical reports as well as the tasting of "in process" wines (Cabernet Sauvignon, Merlot, Cabernet franc) at some different stages show today a spectacular result. Lower yields compared to last year, very concentrated grapes and high levels of alcohol and acidity: this could be a short description of what happened in Bordeaux on 2010. In terms of colour, wines look great and do not show any weakness at this level. In terms of perfumes, grapes develop at the moment the delicious aromas they could offer during fermentation. In terms of tannins, we can see their high presence on an analytical level as well as we can feel them on the palate. The role of the winemaker here is to not overextract. In terms of alcohol, it is undeniably high and figures may show unprecedented levels for some parcels in chateaux. In terms of acidity, the level is higher compared to 2009 which could be a very positive point for making elegant wines. So as a conclusion, grapes are offering at this period of time an excellent potential for future great 2010 wines in Bordeaux. As usual, the role of the winemaker will be decisive as high potential of alcohol and tannins in 2010 may lead to unbalanced wines. But the "raw material" is definitely of a high level of quality and is giving vintners a potential to make great wines. So next time you meet Bordeaux vintners, don't be too sceptical about their view on the 2010 vintage. Yes believe them if they call it a great vintage. And then make your own opinion next year if you get the chance to taste them en Primeurs.(More wine news on www.vitabella.fr)
9.17.2010
Speculation or Diversification? The Truth about Funds that invest in Fine Wine
(This editorial is the executive summary of an exclusive VitaBella report)(More wine news on www.vitabella.fr). According to the newly released monthly poll BofA Merrill Lynch, investors mark their preference for liquidities and are overall slightly positive on the stock Market. They do not all agree about the direction the economic situation will take for the next few months but are all very skeptical about a strong and fast recovery scenario. Some even mention a a double dip recession. But at the same time, these fund managers also need to find new opportunities to invest their money in some ways including bonds, gold, etc. And wine is sometimes a "liquid asset" in which funds are interested to invest. And then come discussions among wine merchants and wine lovers who feel threatened by this new money coming into the luxury wine business and more particularly into Bordeaux 1st growths and the recent 2009' En primeurs' campaign. The same topics come back: Does it create a bubble that will explode sooner or later? What will happen when these wines will come back into the market on wine auctions? Do you know in which wines do these funds invest?
It is not breaking news to say that Finance and fine wines are strongly related. But as the word of Finance is often related for many to speculation and short-term objectives, wine merchants and wine lovers may be scared by the new flow of cash coming into the luxury wine business. As it may appear vague for some of us and in order to illustrate the comments made here, the reader will find, at the end of this article, a part of a portfolio that invested in wines as an example. It is just a portion of the entire wine holdings in this portfolio but informations such as names, vintages and valuations (recorded by the fund at the end of December 2009) could be found.
Some points to reassure wine merchants and wine lovers:
- Funds disclose their information to the public. So, nothing is hidden, and wine lovers can find out which fund invested in what wine. It is just a question of taking time to make researches.
- Investment funds are looking for new "safe" investments during a troubled economy. Wine seems to be the right vehicle as the track record for top wines has been quite impressive over the last 20 years. Moreover, they are actually interested in "concrete" assets such as gold, top quality properties and fine wine is considered "Red gold" by some.
- Investment funds are not overinvesting in wines but only take a very small part of their portfolio to invest in luxury wines. Asset allocation is strictly measured in order to lower the overall risk taken by the fund. So either a fund is 100% wine oriented or only a very small percentage is allocated to fine wines.
- Wine is such a beautiful thing that if investors do not make money out of this investment over the next 10 years, they will have the great pleasure to enjoy these bottles with their beloved friends.(Some funds propose to pay back the money invested by individuals with bottles instead of cash).
Of course, some negative points could be discussed:
- Investment funds can be huge and just investing a very small portion of their assets is already a lot of money.
- If investment funds all share the same traditional investment approach called "flight to quality", their investments would be only focused on the top 1% of the wines produced in the world (1% is an approximation as it may certainly be much lower than that).
- Much bigger than investment funds, Pension funds could have a big impact on prices of some very well identified names if they decide to invest heavily.
(More wine news on www.vitabella.fr).
List below: As an example, here is a portion of a portfolio that invested in wines (valuations at end of december 2009) and which recently made its holdings public.
Wine/ Producer/ Year/ Format /Nb.bott. /Tot. val.EUR
France
Bordeaux
Ausone/ Ausone/ 1961/ (MG)/ 6/ 17,137.50
Ausone/ Ausone/ 1964/ (BT)/ 12/ 5,256
Ausone/ Ausone/ 2000/ (BT)/ 2/ 3,544.50
Ausone/ Ausone/ 2003/ (BT)/ 3/ 4,610
Ausone/ Ausone/ 2005/ (BT)/ 171/ 361,551
Ausone/ Ausone/ 2006/ (En-Pr)/ 21/ 21,115.50
Ausone/ Ausone/ 2006/ (MG)/ 6/ 16,600
Ausone/ Ausone/ 2007/ (BT)/ 6/ 3,546
Ausone/ Ausone/ 2007/ (MG)/ 3/ 4,110
Ausone/ Ausone/ 2007/ (En-Pr)/ 36/ 21,276
Ausone/ Ausone/ 2008/ (En-Pr)/ 30/ 25,050
Caisse Prestige Bordeaux 1°/ Caisse Prestige/ 1998/ (CW)/ 1/ 8,500
Calon Ségur/ Calon-Ségur/ 1945/ (BT)/ 2/ 1,192
Calon Ségur/ Calon-Ségur/ 1949/ (BT)/ 20/ 13,560
Carruades de Lafite/ Lafite-Rothschild/ 2005/ (BT)/ 24/ 4,284
Carruades de Lafite/ Lafite-Rothschild/ 2007/ (En-Pr)/ 360/ 45,360
Carruades de Lafite/ Lafite-Rothschild/ 2007/ (En-Pr)/ 12/ 3,024
Carruades de Lafite/ Lafite-Rothschild/ 2008 (En-Pr)/ 1200/ 152,400
Cheval Blanc/ Cheval Blanc/ 1947/ (BT)/ 1/ 5,497
Cheval Blanc/ Cheval Blanc/ 1948/ (BT)/ 4 7,372
Cheval Blanc/ Cheval Blanc/ 1961/ (BT)/ 1 1,351
Cheval Blanc/ Cheval Blanc/ 1982/ (BT)/ 30 24,480
Cheval Blanc/ Cheval Blanc/ 1990/ (HB)/ 12 5,484
Cheval Blanc/ Cheval Blanc/ 2000/ (BT)/ 61 59,627.50
Cheval Blanc/ Cheval Blanc/ 2000/ (DMG)/ 1 3,578.50
Cheval Blanc/ Cheval Blanc/ 2005/ (BT)/ 7 4,726.75
Cheval Blanc/ Cheval Blanc/ 2006/ (En-Pr)/ 36 23,220
Cheval Blanc/ Cheval Blanc/ 2006/ (BT)/ 120 77,400
Cheval Blanc/ Cheval Blanc/ 2007/ (En-Pr)/ 72 31,464
Haut Brion/ Haut-Brion/ 1949/ (BT)/ 6/ 9,342
Haut Brion/ Haut-Brion/ 1952/ (BT)/ 8/ 5,088
Haut Brion/ Haut-Brion/ 1953/ (BT)/ 6/ 5,766
Haut Brion/ Haut-Brion/ 1964/ (MG)/ 3/ 1,817
Haut Brion/ Haut-Brion/ 1989/ (BT)/ 8/ 8,432
Haut Brion/ Haut-Brion/ 2000/ (BT)/ 12/ 6,188
Haut Brion/ Haut-Brion/ 2005/ (BT)/ 4/ 2,286.67
Haut Brion/ Haut-Brion/ 2006/ (BT)/ 48/ 27,264
Haut Brion/ Haut-Brion/ 2006/ (En-Pr)/ 12/ 6,816
Pétrus/ Petrus/ 1948/ (BT) /1/ 3,923.50
Pétrus/ Petrus/ 1961/ (DMG)/ 2/ 160,043
Pétrus/ Petrus/ 1961/ (MG)/ 1/ 18,395.67
Pétrus/ Petrus/ 1970/ (MG) /1/ 3,547
Pétrus/ Petrus/ 1971/ (BT)/ 4/ 6,717.33
Pétrus/ Petrus/ 1978/ (BT)/ 8/ 7,244
Pétrus/ Petrus/ 1982/ (BT)/ 1/ 4,658.50
Pétrus/ Petrus/ 1982/ (IMP)/ 1/ 60,000
Pétrus/ Petrus/ 1982/ (MG)/ 3/ 26,475
Pétrus/ Petrus/ 1983/ (BT)/ 14/ 13,699
Pétrus/ Petrus/ 1986/ (BT)/ 1/ 1,343.50
Pétrus/ Petrus/ 1989/ (MG)/ 1/ 6,963.50
Pétrus/ Petrus/ 1990/ (BT)/ 12/ 41,994
Pétrus/ Petrus/ 1995/ (BT)/ 5/ 6,166.25
Pétrus/ Petrus/ 1995/ (BT)/ 12/ 14,799
Pétrus/ Petrus/ 1998/ (BT)/ 11/ 26,826.25
Pétrus/ Petrus/ 1998/ (DMG)/ 1/ 17,000
Pétrus/ Petrus/ 2000/ (BT)/ 8/ 26,126
Pétrus/ Petrus/ 2000/ (MG)/ 1/ 7,211.50
Pétrus/ Petrus/ 2005/ (BT)/ 19/ 67,570.33
Pétrus/ Petrus/ 2005/ (MG)/ 1/ 10,117
Pétrus/ Petrus/ 2005/ (BT)/ 6/ 21,338
Pétrus/ Petrus/ 2006/ (En-Pr)/ 12/ 23,004
Yquem/ Yquem/ 1900/ (BT)/ 1/ 5,245
Yquem/ Yquem/ 1921 (BT) 13 102,730.33
Yquem/ Yquem/ 1937 (BT) 1 3,175.50
Yquem/ Yquem/ 1938 (BT) 1 1,171
Yquem/ Yquem/ 1945 (BT) 2 5,994
Yquem/ Yquem 1959 (BT) 1 1,593.25
Yquem/ Yquem 1966 (BT) 2 689
Yquem/ Yquem 1967 (BT) 46 59,581.50
Yquem Yquem 1967 (MG) 2 7,600
Yquem Yquem 1983 (BT) 6 2,506
Yquem Yquem 1996 (BT) 120 31,240
Yquem Yquem 1996 (HB) 240 26,040
Yquem Yquem 1996 (IMP) 4 8,060
Yquem Yquem 1996 (MG) 24 17,988
Yquem Yquem 1997 (BT) 96 32,352
Yquem Yquem 1997 (HB) 240 46,560
Yquem Yquem 1997 (IMP) 6 15,346
Yquem Yquem 1997 (MG) 48 29,688
Yquem Yquem 2000 (BT) 12 5,202
Yquem Yquem 2001 (BT) 1 468
Yquem Yquem 2005 (BT) 28 17,220
Yquem Yquem 2006 (En-Pr) 12 6,036
Yquem Yquem 2007 (En-Pr) 180 105,600
Burgundy
Bâtard Montrachet/ Leflaive/ 2000/ (BT)/ 12/ 3,312
Bienvenues-Bâtard-Montrachet/ Leflaive/ 1999/ (BT)/ 12/ 2,076
Bonnes Mares Grand Cru/ Comte de Vogue/ 2005/ (BT)/ 6/ 3,912
Chambertin/ Leroy/ 1996/ (BT)/ 6/ 9,684
Chambertin/ Armand Rousseau/ 1990/ (BT)/ 2/ 2,242
Chambertin/ Armand Rousseau/ 2003/ (BT)/ 3/ 1,212
Chambertin/ Armand Rousseau/ 2005/ (BT)/ 18/ 15,705
Chambertin Armand Rousseau 2005 (MG) 1 3,187
Chambertin Clos de Bèze/ Armand Rousseau/ 1999/ (BT)/ 5/ 2,762.50
Chambertin Clos de Bèze/ Armand Rousseau/ 1999/ (MG)/ 1/ 1,105
Chambertin Clos de Bèze/ Armand Rousseau/ 2005/ (BT)/ 12/ 12,868
Clos de la Roche/ Ponsot/ 2005/ (BT)/ 6/ 5,432
Corton Charlemagne/ Coche-Dury/ 1990/ (BT)/ 12/ 30,912
Corton Charlemagne/ Coche-Dury/ 1997/ (BT)/ 5/ 5,075
Corton Charlemagne/ Coche-Dury/ 1998/ (BT)/ 3/ 2,494.50
Corton Charlemagne/ Coche-Dury/ 1999/ (BT)/ 1/ 2,205
Corton Charlemagne/ Coche-Dury/ 2003/ (BT)/ 2/ 1,544
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 1990 (CW) 2 66,641.33
DRC (Assortment) (1RC / 3LT / 2R / 3RSV / 1GE / 2E) DRC 1993 (CW) 1 11,300
DRC (Assortment) (1RC / 3LT / 2R / 1RSV / 2GE / 3E) DRC 1996 (CW) 1 15,348.25
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 1GE / 3E) DRC 1997 (CW) 1 13,450
DRC (Assortment) (1RC / 3LT / 2R / 3RSV / 1 GE / 2E) DRC 1998 (CW) 3 37,800
DRC (Assortment) (1RC / 3LT / 2R / 4RSV / 2E) DRC 1998 (CW) 1 12,600
DRC (Assortment) (1RC / 2LT / 3R / 2RSV / 2GE / 2E) DRC 1999 (CW) 1 33,250
DRC (Assortment) (1RC / 3LT / 1R / 3RSV / 2G3 / 2E) DRC 1999 (CW) 1 33,250
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 1999 (CW) 4 133,000
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 1GE / 2E) DRC 2000 (CW) 1 14,610
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2000 (CW) 2 29,220
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2001 (CW) 5 68,965
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2002 (CW) 2 28,818
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2003 (CW) 2 37,681
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2004 (CW) 4 88,000
DRC (Assortment) (1RC / 2LT / 3R / 2RSV / 2GE / 2E) DRC 2004 (CW) 2 44,000
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2 GE / 2E) DRC 2005 (CW) 4 111,980
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2006 (CW) 15 219,420
DRC (Assortment) (1RC / 3LT / 2R / 3RSV / 1GE / 2E) DRC 2006 (CW) 1 14,628
DRC (Assortment) (1RC / 3LT / 2R / 4RSV / 2E) DRC 2006 (CW) 1 14,628
Echézeaux/ Henri Jayer/ 1978/ (BT)/ 3/ 17,502
Echézeaux/ Henri Jayer 1978 (MG) 1 12,971.25
Echézeaux/ Henri Jayer 1980 (BT) 1 2,288
Echézeaux/ Henri Jayer 1984 (BT) 2 3,896
Echézeaux/ Henri Jayer 1985 (BT) 12 68,052
Echézeaux/ Henri Jayer 1986 (BT) 3 7,405.50
Echézeaux/ Henri Jayer 1987 (BT) 3 7,125
Echézeaux/ Henri Jayer 1988 (BT) 28 61,600
Echézeaux/ Henri Jayer 1989 (BT) 22 58,190
Echézeaux/ Henri Jayer 1989 (MG) 1 7,935
Echézeaux/ Henri Jayer 1990 (MG) 1 8,791.50
Echézeaux/ Henri Jayer 1991 (BT) 18 44,469
Echézeaux/ Henri Jayer 1992 (BT) 9 13,536
Echézeaux/ Henri Jayer 1993 (BT) 12 26,748
Echézeaux/ Henri Jayer 1994 (BT) 12 15,528
Echézeaux/ Henri Jayer 1995 (BT) 3 7,081.50
Echézeaux/ Henri Jayer 2001 (BT) 13 17,563
Griottes Chambertin/ Claude Dugat/ 1990/ (BT)/ 3/ 4,966.50
Griottes Chambertin/ Ponsot/ 2005/ (BT)/ 3/ 1,180.50
La Romanée/ Leroy/ 1962/ (BT)/ 12/ 20,172
Montrachet/ Comte Lafon/ 1992/ (BT)/ 2/ 3,494
Montrachet/ Comte Lafon/ 1993/ (BT)/ 1/ 1,250.50
Montrachet/ Comte Lafon/ 2003/ (BT)/ 1/ 745
Montrachet/ Comte Lafon/ 2005/ (BT)/ 12/ 19,692
Montrachet/ DRC 1968 (BT) 2 6,000
Montrachet/ DRC 1969 (BT) 3 6,816
Montrachet/ DRC 1973 (BT) 13 64,389
Montrachet/ DRC 1976 (BT) 2 7,573
Montrachet/ DRC 1978 (BT) 4 30,480
Montrachet/ DRC 1982 (MG) 1 9,000
Montrachet/ DRC 1988 (BT) 1 2,545
Montrachet/ DRC 1989 (BT) 7 23,863
Montrachet/ DRC 1990 (BT) 1 2,500
Montrachet/ DRC 1991 (JERO) 1 14,127
Montrachet/ DRC 1996 (MTH) 1 35,307
Montrachet/ DRC 1997 (BT) 5 10,133.33
Montrachet/ DRC 1999 (BT) 3 5,635.50
Montrachet/ DRC 1999 (MG) 1 4,191
Montrachet/ DRC 2000 (BT) 2 4,520
Montrachet/ DRC 2001 (BT) 1 2,258.67
Montrachet/ DRC 2002 (BT) 1 2,645
Montrachet/ DRC 2003 (BT) 2 6,151
Montrachet/ DRC 2003 (JERO) 1 11,100
Montrachet/ DRC 2003 (MG) 3 18,165
Montrachet/ DRC 2004 (BT) 6 13,881
Montrachet/ DRC 2004 (MG) 1 5,783.75
Montrachet/ DRC 2005 (BT) 37 173,604
Montrachet/ DRC 2006 (BT) 3 5,899.50
Montrachet/ Leflaive 1998 (BT) 3 7,161
Montrachet/ Leflaive 2003 (BT) 1 1,500
Montrachet/ Leroy 1969 (BT) 9 11,322
Montrachet/ Ramonet 1990 (MG) 1 4,250.67
Montrachet/ Sauzet 2003 (BT) 1 287
Musigny Grand Cru/ Comte de Vogue 2005 (BT) 6 5,229
Vosne Romanée/ Cros Parantoux Henri Jayer 1980 (BT) 15 62,250
Vosne Romanée/ Cros Parantoux Henri Jayer 1988 (BT) 1 3,757.50
Vosne Romanée/ Cros Parantoux Henri Jayer 1988 (MG) 1 9,393.75
Vosne Romanée/ Cros Parantoux Henri Jayer 1989 (BT) 2 10,273
Vosne Romanée/ Cros Parantoux Henri Jayer 1990 (BT) 1 7,834
Vosne Romanée/ Cros Parantoux Henri Jayer 1990 (MG) 5 71,457.50
Vosne Romanée/ Cros Parantoux Henri Jayer 1993 (MG) 2 15,009.50
Vosne Romanée/ Cros Parantoux Henri Jayer 1994 (BT) 2 3,354
Vosne Romanée/ Cros Parantoux Henri Jayer 1996 (BT) 13 43,368
Vosne Romanée/ Cros Parantoux Henri Jayer 1997 (BT) 8 14,628
Vosne-Romanée/ Henri Jayer 1992 (BT) 2 2,329
Vosne-Romanée/ Henri Jayer 1993 (BT) 2 2,355
Champagne
Clos d'Ambonnay/ Krug/ 1996/ (BT)/ 12/ 23,598
Clos du Mesnil/ Krug/ 1996/ (MG)/ 1/ 2,017
Cristal/ Roederer/ 1990/ (BT)/ 24/ 7,712
Cristal/ Roederer/ 1990/ (MG)/ 1/ 1,438.50
Dom Perignon/ Moet & Chandon/ 1964/ (MG)/ 4/ 5,020
Dom Pérignon/ OEnothèque Dom Perignon/ 1959/ (BT)/ 2/ 4,000
Rhone
Chateauneuf du Pape/ Réserve des Célestins/ Henri Bonneau/ 1978/ (BT)/ 10/ 9,100
Hermitage La Chapelle/ Jaboulet/ 1961/ (BT)/ 2/ 18,693
Hermitage Rouge/ Chave/ 1990/ (BT)/ 2/ 1,094
Hermitage Rouge/ Chave/ 1999/ (BT)/ 3/ 664.50
Hommage à Jacques Perrin/ Beaucastel/ 1999/ (BT)/ 10/ 2,640
Italy
Piedmont
Barolo Brunate R. Voerzio/ Roberto Voerzio/ 1998/ (BT)/ 24/ 2,724
Barolo Cannubi Sandrone/ Sandrone/ 1998/ (BT)/ 108/ 12,636
Barolo Cerequio R. Voerzio/ Roberto Voerzio/ 1998/ (BT)/ 54/ 5,724
Barolo Ciabot Ginestra D. Clerico/ Domenico Clerico/ 1998/ (BT)/ 18/ 1,971
Barolo Gran Bussia A.Conterno/ Aldo Conterno/ 1996/ (BT)/ 54/ 6,750
Barolo La Serra R. Voerzio/ Roberto Voerzio/ 1998/ (BT)/ 18/ 1,728
Barolo Le Vigne Sandrone/ Sandrone/ 1998/ (BT)/ 108/ 17,010
Barolo Rocche Annunziata Ris./ Scavino/ 1996/ (BT)/ 300/ 39,600
Barolo Rocche Annunziata Ris./Scavino/ 1997/ (BT)/ 300/ 68,400
Barolo Rocche Annunziata Ris./Scavino/ 1998/ (BT)/ 300/ 33,300
Gaja Sperss/ Gaja/ 1990/ (BT)/ 6/ 954
Gaja Sperss/ Gaja/ 1997/ (BT)/ 60/ 16,650
Massetto/ Tenuta dell'Ornellaia/ 1990/ (MG)/ 1/ 1,437.50
Massetto/ Tenuta dell'Ornellaia/ 1992/ (MG)/ 1/ 575
Massetto/ Tenuta dell'Ornellaia/ 1995/ (DMG)/ 1/ 1,604
Massetto/ Tenuta dell'Ornellaia/ 2004/ (BT)/ 36/ 14,364
Massetto/ Tenuta dell'Ornellaia/ 2004/ (DMG)/ 3/ 6,417
Massetto/ Tenuta dell'Ornellaia/ 2004/ (MG)/ 1/ 1,128
Ornellaia Edition Special 20 ans/ Tenuta dell'Omellaia/ 2005/ (DMG)/ 1 932
Ornellaia Edition Special 20 ans/ Tenuta dell'Omellaia/ 2005/ (MG)/ 2 633
Sassicaia/ Tenuta San Guido/ 1970/ (BT)/ 2/ 2,398
Sassicaia/ Tenuta San Guido/ 1985/ (BT)/ 6/ 8,946
Sassicaia/ Tenuta San Guido/ 1985/ (MG)/ 8/ 34,589.33
Sassicaia/ Tenuta San Guido/ 1990/ (MG)/ 3/ 4,497
Spain
L'Ermita Alvaro Palacios/ Alvaro Palacios/ 1996/ (JERO)/ 1/ 1,391.50
Vega Sicilia Unico/ Vega Sicilia/ 1962/ (BT)/ 12/ 6,268
Vega Sicilia Unico/ Vega Sicilia/ 1970/ (BT)/ 12/ 6,366
Vega Sicilia Unico/ Vega Sicilia/ 1970/ (MG)/ 1/ 1,583.33
United States
Cabernet Sauvignon/ Caymus/ 1995/ (MG)/ 2/ 976.89
It is not breaking news to say that Finance and fine wines are strongly related. But as the word of Finance is often related for many to speculation and short-term objectives, wine merchants and wine lovers may be scared by the new flow of cash coming into the luxury wine business. As it may appear vague for some of us and in order to illustrate the comments made here, the reader will find, at the end of this article, a part of a portfolio that invested in wines as an example. It is just a portion of the entire wine holdings in this portfolio but informations such as names, vintages and valuations (recorded by the fund at the end of December 2009) could be found.
Some points to reassure wine merchants and wine lovers:
- Funds disclose their information to the public. So, nothing is hidden, and wine lovers can find out which fund invested in what wine. It is just a question of taking time to make researches.
- Investment funds are looking for new "safe" investments during a troubled economy. Wine seems to be the right vehicle as the track record for top wines has been quite impressive over the last 20 years. Moreover, they are actually interested in "concrete" assets such as gold, top quality properties and fine wine is considered "Red gold" by some.
- Investment funds are not overinvesting in wines but only take a very small part of their portfolio to invest in luxury wines. Asset allocation is strictly measured in order to lower the overall risk taken by the fund. So either a fund is 100% wine oriented or only a very small percentage is allocated to fine wines.
- Wine is such a beautiful thing that if investors do not make money out of this investment over the next 10 years, they will have the great pleasure to enjoy these bottles with their beloved friends.(Some funds propose to pay back the money invested by individuals with bottles instead of cash).
Of course, some negative points could be discussed:
- Investment funds can be huge and just investing a very small portion of their assets is already a lot of money.
- If investment funds all share the same traditional investment approach called "flight to quality", their investments would be only focused on the top 1% of the wines produced in the world (1% is an approximation as it may certainly be much lower than that).
- Much bigger than investment funds, Pension funds could have a big impact on prices of some very well identified names if they decide to invest heavily.
(More wine news on www.vitabella.fr).
List below: As an example, here is a portion of a portfolio that invested in wines (valuations at end of december 2009) and which recently made its holdings public.
Wine/ Producer/ Year/ Format /Nb.bott. /Tot. val.EUR
France
Bordeaux
Ausone/ Ausone/ 1961/ (MG)/ 6/ 17,137.50
Ausone/ Ausone/ 1964/ (BT)/ 12/ 5,256
Ausone/ Ausone/ 2000/ (BT)/ 2/ 3,544.50
Ausone/ Ausone/ 2003/ (BT)/ 3/ 4,610
Ausone/ Ausone/ 2005/ (BT)/ 171/ 361,551
Ausone/ Ausone/ 2006/ (En-Pr)/ 21/ 21,115.50
Ausone/ Ausone/ 2006/ (MG)/ 6/ 16,600
Ausone/ Ausone/ 2007/ (BT)/ 6/ 3,546
Ausone/ Ausone/ 2007/ (MG)/ 3/ 4,110
Ausone/ Ausone/ 2007/ (En-Pr)/ 36/ 21,276
Ausone/ Ausone/ 2008/ (En-Pr)/ 30/ 25,050
Caisse Prestige Bordeaux 1°/ Caisse Prestige/ 1998/ (CW)/ 1/ 8,500
Calon Ségur/ Calon-Ségur/ 1945/ (BT)/ 2/ 1,192
Calon Ségur/ Calon-Ségur/ 1949/ (BT)/ 20/ 13,560
Carruades de Lafite/ Lafite-Rothschild/ 2005/ (BT)/ 24/ 4,284
Carruades de Lafite/ Lafite-Rothschild/ 2007/ (En-Pr)/ 360/ 45,360
Carruades de Lafite/ Lafite-Rothschild/ 2007/ (En-Pr)/ 12/ 3,024
Carruades de Lafite/ Lafite-Rothschild/ 2008 (En-Pr)/ 1200/ 152,400
Cheval Blanc/ Cheval Blanc/ 1947/ (BT)/ 1/ 5,497
Cheval Blanc/ Cheval Blanc/ 1948/ (BT)/ 4 7,372
Cheval Blanc/ Cheval Blanc/ 1961/ (BT)/ 1 1,351
Cheval Blanc/ Cheval Blanc/ 1982/ (BT)/ 30 24,480
Cheval Blanc/ Cheval Blanc/ 1990/ (HB)/ 12 5,484
Cheval Blanc/ Cheval Blanc/ 2000/ (BT)/ 61 59,627.50
Cheval Blanc/ Cheval Blanc/ 2000/ (DMG)/ 1 3,578.50
Cheval Blanc/ Cheval Blanc/ 2005/ (BT)/ 7 4,726.75
Cheval Blanc/ Cheval Blanc/ 2006/ (En-Pr)/ 36 23,220
Cheval Blanc/ Cheval Blanc/ 2006/ (BT)/ 120 77,400
Cheval Blanc/ Cheval Blanc/ 2007/ (En-Pr)/ 72 31,464
Haut Brion/ Haut-Brion/ 1949/ (BT)/ 6/ 9,342
Haut Brion/ Haut-Brion/ 1952/ (BT)/ 8/ 5,088
Haut Brion/ Haut-Brion/ 1953/ (BT)/ 6/ 5,766
Haut Brion/ Haut-Brion/ 1964/ (MG)/ 3/ 1,817
Haut Brion/ Haut-Brion/ 1989/ (BT)/ 8/ 8,432
Haut Brion/ Haut-Brion/ 2000/ (BT)/ 12/ 6,188
Haut Brion/ Haut-Brion/ 2005/ (BT)/ 4/ 2,286.67
Haut Brion/ Haut-Brion/ 2006/ (BT)/ 48/ 27,264
Haut Brion/ Haut-Brion/ 2006/ (En-Pr)/ 12/ 6,816
Pétrus/ Petrus/ 1948/ (BT) /1/ 3,923.50
Pétrus/ Petrus/ 1961/ (DMG)/ 2/ 160,043
Pétrus/ Petrus/ 1961/ (MG)/ 1/ 18,395.67
Pétrus/ Petrus/ 1970/ (MG) /1/ 3,547
Pétrus/ Petrus/ 1971/ (BT)/ 4/ 6,717.33
Pétrus/ Petrus/ 1978/ (BT)/ 8/ 7,244
Pétrus/ Petrus/ 1982/ (BT)/ 1/ 4,658.50
Pétrus/ Petrus/ 1982/ (IMP)/ 1/ 60,000
Pétrus/ Petrus/ 1982/ (MG)/ 3/ 26,475
Pétrus/ Petrus/ 1983/ (BT)/ 14/ 13,699
Pétrus/ Petrus/ 1986/ (BT)/ 1/ 1,343.50
Pétrus/ Petrus/ 1989/ (MG)/ 1/ 6,963.50
Pétrus/ Petrus/ 1990/ (BT)/ 12/ 41,994
Pétrus/ Petrus/ 1995/ (BT)/ 5/ 6,166.25
Pétrus/ Petrus/ 1995/ (BT)/ 12/ 14,799
Pétrus/ Petrus/ 1998/ (BT)/ 11/ 26,826.25
Pétrus/ Petrus/ 1998/ (DMG)/ 1/ 17,000
Pétrus/ Petrus/ 2000/ (BT)/ 8/ 26,126
Pétrus/ Petrus/ 2000/ (MG)/ 1/ 7,211.50
Pétrus/ Petrus/ 2005/ (BT)/ 19/ 67,570.33
Pétrus/ Petrus/ 2005/ (MG)/ 1/ 10,117
Pétrus/ Petrus/ 2005/ (BT)/ 6/ 21,338
Pétrus/ Petrus/ 2006/ (En-Pr)/ 12/ 23,004
Yquem/ Yquem/ 1900/ (BT)/ 1/ 5,245
Yquem/ Yquem/ 1921 (BT) 13 102,730.33
Yquem/ Yquem/ 1937 (BT) 1 3,175.50
Yquem/ Yquem/ 1938 (BT) 1 1,171
Yquem/ Yquem/ 1945 (BT) 2 5,994
Yquem/ Yquem 1959 (BT) 1 1,593.25
Yquem/ Yquem 1966 (BT) 2 689
Yquem/ Yquem 1967 (BT) 46 59,581.50
Yquem Yquem 1967 (MG) 2 7,600
Yquem Yquem 1983 (BT) 6 2,506
Yquem Yquem 1996 (BT) 120 31,240
Yquem Yquem 1996 (HB) 240 26,040
Yquem Yquem 1996 (IMP) 4 8,060
Yquem Yquem 1996 (MG) 24 17,988
Yquem Yquem 1997 (BT) 96 32,352
Yquem Yquem 1997 (HB) 240 46,560
Yquem Yquem 1997 (IMP) 6 15,346
Yquem Yquem 1997 (MG) 48 29,688
Yquem Yquem 2000 (BT) 12 5,202
Yquem Yquem 2001 (BT) 1 468
Yquem Yquem 2005 (BT) 28 17,220
Yquem Yquem 2006 (En-Pr) 12 6,036
Yquem Yquem 2007 (En-Pr) 180 105,600
Burgundy
Bâtard Montrachet/ Leflaive/ 2000/ (BT)/ 12/ 3,312
Bienvenues-Bâtard-Montrachet/ Leflaive/ 1999/ (BT)/ 12/ 2,076
Bonnes Mares Grand Cru/ Comte de Vogue/ 2005/ (BT)/ 6/ 3,912
Chambertin/ Leroy/ 1996/ (BT)/ 6/ 9,684
Chambertin/ Armand Rousseau/ 1990/ (BT)/ 2/ 2,242
Chambertin/ Armand Rousseau/ 2003/ (BT)/ 3/ 1,212
Chambertin/ Armand Rousseau/ 2005/ (BT)/ 18/ 15,705
Chambertin Armand Rousseau 2005 (MG) 1 3,187
Chambertin Clos de Bèze/ Armand Rousseau/ 1999/ (BT)/ 5/ 2,762.50
Chambertin Clos de Bèze/ Armand Rousseau/ 1999/ (MG)/ 1/ 1,105
Chambertin Clos de Bèze/ Armand Rousseau/ 2005/ (BT)/ 12/ 12,868
Clos de la Roche/ Ponsot/ 2005/ (BT)/ 6/ 5,432
Corton Charlemagne/ Coche-Dury/ 1990/ (BT)/ 12/ 30,912
Corton Charlemagne/ Coche-Dury/ 1997/ (BT)/ 5/ 5,075
Corton Charlemagne/ Coche-Dury/ 1998/ (BT)/ 3/ 2,494.50
Corton Charlemagne/ Coche-Dury/ 1999/ (BT)/ 1/ 2,205
Corton Charlemagne/ Coche-Dury/ 2003/ (BT)/ 2/ 1,544
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 1990 (CW) 2 66,641.33
DRC (Assortment) (1RC / 3LT / 2R / 3RSV / 1GE / 2E) DRC 1993 (CW) 1 11,300
DRC (Assortment) (1RC / 3LT / 2R / 1RSV / 2GE / 3E) DRC 1996 (CW) 1 15,348.25
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 1GE / 3E) DRC 1997 (CW) 1 13,450
DRC (Assortment) (1RC / 3LT / 2R / 3RSV / 1 GE / 2E) DRC 1998 (CW) 3 37,800
DRC (Assortment) (1RC / 3LT / 2R / 4RSV / 2E) DRC 1998 (CW) 1 12,600
DRC (Assortment) (1RC / 2LT / 3R / 2RSV / 2GE / 2E) DRC 1999 (CW) 1 33,250
DRC (Assortment) (1RC / 3LT / 1R / 3RSV / 2G3 / 2E) DRC 1999 (CW) 1 33,250
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 1999 (CW) 4 133,000
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 1GE / 2E) DRC 2000 (CW) 1 14,610
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2000 (CW) 2 29,220
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2001 (CW) 5 68,965
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2002 (CW) 2 28,818
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2003 (CW) 2 37,681
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2004 (CW) 4 88,000
DRC (Assortment) (1RC / 2LT / 3R / 2RSV / 2GE / 2E) DRC 2004 (CW) 2 44,000
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2 GE / 2E) DRC 2005 (CW) 4 111,980
DRC (Assortment) (1RC / 3LT / 2R / 2RSV / 2GE / 2E) DRC 2006 (CW) 15 219,420
DRC (Assortment) (1RC / 3LT / 2R / 3RSV / 1GE / 2E) DRC 2006 (CW) 1 14,628
DRC (Assortment) (1RC / 3LT / 2R / 4RSV / 2E) DRC 2006 (CW) 1 14,628
Echézeaux/ Henri Jayer/ 1978/ (BT)/ 3/ 17,502
Echézeaux/ Henri Jayer 1978 (MG) 1 12,971.25
Echézeaux/ Henri Jayer 1980 (BT) 1 2,288
Echézeaux/ Henri Jayer 1984 (BT) 2 3,896
Echézeaux/ Henri Jayer 1985 (BT) 12 68,052
Echézeaux/ Henri Jayer 1986 (BT) 3 7,405.50
Echézeaux/ Henri Jayer 1987 (BT) 3 7,125
Echézeaux/ Henri Jayer 1988 (BT) 28 61,600
Echézeaux/ Henri Jayer 1989 (BT) 22 58,190
Echézeaux/ Henri Jayer 1989 (MG) 1 7,935
Echézeaux/ Henri Jayer 1990 (MG) 1 8,791.50
Echézeaux/ Henri Jayer 1991 (BT) 18 44,469
Echézeaux/ Henri Jayer 1992 (BT) 9 13,536
Echézeaux/ Henri Jayer 1993 (BT) 12 26,748
Echézeaux/ Henri Jayer 1994 (BT) 12 15,528
Echézeaux/ Henri Jayer 1995 (BT) 3 7,081.50
Echézeaux/ Henri Jayer 2001 (BT) 13 17,563
Griottes Chambertin/ Claude Dugat/ 1990/ (BT)/ 3/ 4,966.50
Griottes Chambertin/ Ponsot/ 2005/ (BT)/ 3/ 1,180.50
La Romanée/ Leroy/ 1962/ (BT)/ 12/ 20,172
Montrachet/ Comte Lafon/ 1992/ (BT)/ 2/ 3,494
Montrachet/ Comte Lafon/ 1993/ (BT)/ 1/ 1,250.50
Montrachet/ Comte Lafon/ 2003/ (BT)/ 1/ 745
Montrachet/ Comte Lafon/ 2005/ (BT)/ 12/ 19,692
Montrachet/ DRC 1968 (BT) 2 6,000
Montrachet/ DRC 1969 (BT) 3 6,816
Montrachet/ DRC 1973 (BT) 13 64,389
Montrachet/ DRC 1976 (BT) 2 7,573
Montrachet/ DRC 1978 (BT) 4 30,480
Montrachet/ DRC 1982 (MG) 1 9,000
Montrachet/ DRC 1988 (BT) 1 2,545
Montrachet/ DRC 1989 (BT) 7 23,863
Montrachet/ DRC 1990 (BT) 1 2,500
Montrachet/ DRC 1991 (JERO) 1 14,127
Montrachet/ DRC 1996 (MTH) 1 35,307
Montrachet/ DRC 1997 (BT) 5 10,133.33
Montrachet/ DRC 1999 (BT) 3 5,635.50
Montrachet/ DRC 1999 (MG) 1 4,191
Montrachet/ DRC 2000 (BT) 2 4,520
Montrachet/ DRC 2001 (BT) 1 2,258.67
Montrachet/ DRC 2002 (BT) 1 2,645
Montrachet/ DRC 2003 (BT) 2 6,151
Montrachet/ DRC 2003 (JERO) 1 11,100
Montrachet/ DRC 2003 (MG) 3 18,165
Montrachet/ DRC 2004 (BT) 6 13,881
Montrachet/ DRC 2004 (MG) 1 5,783.75
Montrachet/ DRC 2005 (BT) 37 173,604
Montrachet/ DRC 2006 (BT) 3 5,899.50
Montrachet/ Leflaive 1998 (BT) 3 7,161
Montrachet/ Leflaive 2003 (BT) 1 1,500
Montrachet/ Leroy 1969 (BT) 9 11,322
Montrachet/ Ramonet 1990 (MG) 1 4,250.67
Montrachet/ Sauzet 2003 (BT) 1 287
Musigny Grand Cru/ Comte de Vogue 2005 (BT) 6 5,229
Vosne Romanée/ Cros Parantoux Henri Jayer 1980 (BT) 15 62,250
Vosne Romanée/ Cros Parantoux Henri Jayer 1988 (BT) 1 3,757.50
Vosne Romanée/ Cros Parantoux Henri Jayer 1988 (MG) 1 9,393.75
Vosne Romanée/ Cros Parantoux Henri Jayer 1989 (BT) 2 10,273
Vosne Romanée/ Cros Parantoux Henri Jayer 1990 (BT) 1 7,834
Vosne Romanée/ Cros Parantoux Henri Jayer 1990 (MG) 5 71,457.50
Vosne Romanée/ Cros Parantoux Henri Jayer 1993 (MG) 2 15,009.50
Vosne Romanée/ Cros Parantoux Henri Jayer 1994 (BT) 2 3,354
Vosne Romanée/ Cros Parantoux Henri Jayer 1996 (BT) 13 43,368
Vosne Romanée/ Cros Parantoux Henri Jayer 1997 (BT) 8 14,628
Vosne-Romanée/ Henri Jayer 1992 (BT) 2 2,329
Vosne-Romanée/ Henri Jayer 1993 (BT) 2 2,355
Champagne
Clos d'Ambonnay/ Krug/ 1996/ (BT)/ 12/ 23,598
Clos du Mesnil/ Krug/ 1996/ (MG)/ 1/ 2,017
Cristal/ Roederer/ 1990/ (BT)/ 24/ 7,712
Cristal/ Roederer/ 1990/ (MG)/ 1/ 1,438.50
Dom Perignon/ Moet & Chandon/ 1964/ (MG)/ 4/ 5,020
Dom Pérignon/ OEnothèque Dom Perignon/ 1959/ (BT)/ 2/ 4,000
Rhone
Chateauneuf du Pape/ Réserve des Célestins/ Henri Bonneau/ 1978/ (BT)/ 10/ 9,100
Hermitage La Chapelle/ Jaboulet/ 1961/ (BT)/ 2/ 18,693
Hermitage Rouge/ Chave/ 1990/ (BT)/ 2/ 1,094
Hermitage Rouge/ Chave/ 1999/ (BT)/ 3/ 664.50
Hommage à Jacques Perrin/ Beaucastel/ 1999/ (BT)/ 10/ 2,640
Italy
Piedmont
Barolo Brunate R. Voerzio/ Roberto Voerzio/ 1998/ (BT)/ 24/ 2,724
Barolo Cannubi Sandrone/ Sandrone/ 1998/ (BT)/ 108/ 12,636
Barolo Cerequio R. Voerzio/ Roberto Voerzio/ 1998/ (BT)/ 54/ 5,724
Barolo Ciabot Ginestra D. Clerico/ Domenico Clerico/ 1998/ (BT)/ 18/ 1,971
Barolo Gran Bussia A.Conterno/ Aldo Conterno/ 1996/ (BT)/ 54/ 6,750
Barolo La Serra R. Voerzio/ Roberto Voerzio/ 1998/ (BT)/ 18/ 1,728
Barolo Le Vigne Sandrone/ Sandrone/ 1998/ (BT)/ 108/ 17,010
Barolo Rocche Annunziata Ris./ Scavino/ 1996/ (BT)/ 300/ 39,600
Barolo Rocche Annunziata Ris./Scavino/ 1997/ (BT)/ 300/ 68,400
Barolo Rocche Annunziata Ris./Scavino/ 1998/ (BT)/ 300/ 33,300
Gaja Sperss/ Gaja/ 1990/ (BT)/ 6/ 954
Gaja Sperss/ Gaja/ 1997/ (BT)/ 60/ 16,650
Massetto/ Tenuta dell'Ornellaia/ 1990/ (MG)/ 1/ 1,437.50
Massetto/ Tenuta dell'Ornellaia/ 1992/ (MG)/ 1/ 575
Massetto/ Tenuta dell'Ornellaia/ 1995/ (DMG)/ 1/ 1,604
Massetto/ Tenuta dell'Ornellaia/ 2004/ (BT)/ 36/ 14,364
Massetto/ Tenuta dell'Ornellaia/ 2004/ (DMG)/ 3/ 6,417
Massetto/ Tenuta dell'Ornellaia/ 2004/ (MG)/ 1/ 1,128
Ornellaia Edition Special 20 ans/ Tenuta dell'Omellaia/ 2005/ (DMG)/ 1 932
Ornellaia Edition Special 20 ans/ Tenuta dell'Omellaia/ 2005/ (MG)/ 2 633
Sassicaia/ Tenuta San Guido/ 1970/ (BT)/ 2/ 2,398
Sassicaia/ Tenuta San Guido/ 1985/ (BT)/ 6/ 8,946
Sassicaia/ Tenuta San Guido/ 1985/ (MG)/ 8/ 34,589.33
Sassicaia/ Tenuta San Guido/ 1990/ (MG)/ 3/ 4,497
Spain
L'Ermita Alvaro Palacios/ Alvaro Palacios/ 1996/ (JERO)/ 1/ 1,391.50
Vega Sicilia Unico/ Vega Sicilia/ 1962/ (BT)/ 12/ 6,268
Vega Sicilia Unico/ Vega Sicilia/ 1970/ (BT)/ 12/ 6,366
Vega Sicilia Unico/ Vega Sicilia/ 1970/ (MG)/ 1/ 1,583.33
United States
Cabernet Sauvignon/ Caymus/ 1995/ (MG)/ 2/ 976.89
9.15.2010
Luxury Wine Auctions and Cultural aspects to consider for marketing Wines globally
(More wine news on www.vitabella.fr) At the time when the fine wine auctions' season starts in New York, London, Paris, Geneva, Chicago and Hong Kong, it is a great opportunity to consider an aspect of wine marketing: selling a luxury wine internationally does imply that communication is differientated according to the economic situation and to the cultural aspects of the different regions (Europe, America or Asia).
In the coming weeks, more than $15 million worth of first-growth Bordeaux and Burgundies will be going under the hammers. Zachy's began the auction season during the weekend in Hong Kong with more than 900 lots on offer, including 1990 La Tache Domaine de la Romanee Conti, which sold for $50,262, and cases of 1989, '90 and '95 Chateau Petrus which fetched $40,837, $40,837 and $23,560 respectively. In fact Hong Kong, again this year, will be the hottest place for luxury wines. Acker Merrall & Condit will offer a six-pack of magnums of 1971 Romanee Conti, three cases of 1982 Chateau Petrus and three cases of 1982 Chateau Lafite Rothschild. Christie's will also be offering lots in Hong Kong which include more than 80 cases of Lafite-Rothschild with high-end estimates of $11,000 to $24,500 depending on the vintage. Also in Hong Kong, Sotheby's will offer a massive collection of Chateau Lafite dating back to 1869 (one bottle of 1869 with an estimate of $8,000). Of course, these are about the most glamourous lots but there will be many more and not only in Hong Kong but everywhere in the world. How will collectors react? Will all the wine auctions in the world be as successful as the ones in Hong Kong? At this point, two major points could be considered to understand the success of some auctions:
1) Depending on the region, buyers are not in the same mood and will make acquisitions according to their expectations in a near future. In the US, the consumer mood is biased toward lower price points and increased talk of a double dip recession does not inspire confidence. In Asia (excl. Japan), the market seems to be the least price sensitive in the world and the booming economy gives buyers a very positive mood to acquire the best wines at any price. In Europe and Japan, the market is somewhere in between.
2) Depending on the region and the cultural aspects, buyers won't make their decisions for the same reasons. Of course, all of these wines need credibility to be offered and acquired at high prices but, again, depending on the region, wine lovers/collectors do not share the same behaviours. European and japanese collectors are very much attached to the history of the wine estates and the success they gained through decades or even centuries. On the contrary, the need for credibility through established reputation is less of an impediment in the US. Having some good history is merely icing on the cake. Americans are much more concerned with style, quality and performance. Finally asian collectors are right in the middle but tend to favour an other aspect when they are in the process of acquiring luxury wines: the "social status impact".
Having briefly considered these two points, I wish all the best to all the bidders who may either make a good investment for their future pension or enjoy with wine lovers some of the best wines Nature could have ever made in this world...(More wine news on www.vitabella.fr)
In the coming weeks, more than $15 million worth of first-growth Bordeaux and Burgundies will be going under the hammers. Zachy's began the auction season during the weekend in Hong Kong with more than 900 lots on offer, including 1990 La Tache Domaine de la Romanee Conti, which sold for $50,262, and cases of 1989, '90 and '95 Chateau Petrus which fetched $40,837, $40,837 and $23,560 respectively. In fact Hong Kong, again this year, will be the hottest place for luxury wines. Acker Merrall & Condit will offer a six-pack of magnums of 1971 Romanee Conti, three cases of 1982 Chateau Petrus and three cases of 1982 Chateau Lafite Rothschild. Christie's will also be offering lots in Hong Kong which include more than 80 cases of Lafite-Rothschild with high-end estimates of $11,000 to $24,500 depending on the vintage. Also in Hong Kong, Sotheby's will offer a massive collection of Chateau Lafite dating back to 1869 (one bottle of 1869 with an estimate of $8,000). Of course, these are about the most glamourous lots but there will be many more and not only in Hong Kong but everywhere in the world. How will collectors react? Will all the wine auctions in the world be as successful as the ones in Hong Kong? At this point, two major points could be considered to understand the success of some auctions:
1) Depending on the region, buyers are not in the same mood and will make acquisitions according to their expectations in a near future. In the US, the consumer mood is biased toward lower price points and increased talk of a double dip recession does not inspire confidence. In Asia (excl. Japan), the market seems to be the least price sensitive in the world and the booming economy gives buyers a very positive mood to acquire the best wines at any price. In Europe and Japan, the market is somewhere in between.
2) Depending on the region and the cultural aspects, buyers won't make their decisions for the same reasons. Of course, all of these wines need credibility to be offered and acquired at high prices but, again, depending on the region, wine lovers/collectors do not share the same behaviours. European and japanese collectors are very much attached to the history of the wine estates and the success they gained through decades or even centuries. On the contrary, the need for credibility through established reputation is less of an impediment in the US. Having some good history is merely icing on the cake. Americans are much more concerned with style, quality and performance. Finally asian collectors are right in the middle but tend to favour an other aspect when they are in the process of acquiring luxury wines: the "social status impact".
Having briefly considered these two points, I wish all the best to all the bidders who may either make a good investment for their future pension or enjoy with wine lovers some of the best wines Nature could have ever made in this world...(More wine news on www.vitabella.fr)
9.14.2010
Aspirational Consumers and Asia, the next two Challenges for Luxury Wines.
(This editorial is the executive summary of an exclusive VitaBella report)(More wine news on www.vitabella.fr). Recently, the luxury industry showed figures for the first six months of 2010 which were looking quite good. This rebound is mainly due to increased consumer demand and restocking by wholesalers and retailers. The question now is whether it can continue for the rest of the year and into 2011.
- Firstly, if the first six months of last year was the weaker half of 2009 for luxury, further slowdown is likely as comparables will get tougher.
- Secondly, it seems luxury consumers have traded down to less prestigious wines.
- Thirdly, the real problem in the near future is the "aspirational consumer" behaviour. Aspirational consumers are people who do not usually buy luxury wines but would like to do so. And during the recession, many consumers who would trade up to luxury previously simply pulled out of the luxury market.
The future performance for luxury wine estates will depend on two major points:
- Get back these aspirational consumers into the market. They played a key role in the western countries in accelerating the growth since the 90's and in that sense would help again. The challenge is difficult as increased talk of a double dip recession does not inspire consumer confidence.
- Develop sales in Asia. Over the last few years, we saw an increased demand for luxury wines from China and some other countries. Deeper penetration of new, large luxury goods markets is likely to bring a new wave of consumers in the future.
These are the two big challenges that the management of luxury wine estates is facing. Success will depend on how and how fast wine estates will adapt to these new demographics.(More wine news on www.vitabella.fr).
- Firstly, if the first six months of last year was the weaker half of 2009 for luxury, further slowdown is likely as comparables will get tougher.
- Secondly, it seems luxury consumers have traded down to less prestigious wines.
- Thirdly, the real problem in the near future is the "aspirational consumer" behaviour. Aspirational consumers are people who do not usually buy luxury wines but would like to do so. And during the recession, many consumers who would trade up to luxury previously simply pulled out of the luxury market.
The future performance for luxury wine estates will depend on two major points:
- Get back these aspirational consumers into the market. They played a key role in the western countries in accelerating the growth since the 90's and in that sense would help again. The challenge is difficult as increased talk of a double dip recession does not inspire consumer confidence.
- Develop sales in Asia. Over the last few years, we saw an increased demand for luxury wines from China and some other countries. Deeper penetration of new, large luxury goods markets is likely to bring a new wave of consumers in the future.
These are the two big challenges that the management of luxury wine estates is facing. Success will depend on how and how fast wine estates will adapt to these new demographics.(More wine news on www.vitabella.fr).
9.13.2010
Paris Biennale des antiquaires: Could Luxury Wines join Haute Joaillerie and take part to this prestigious fair?
(More wine news on www.vitabella.fr) The 25th Paris Biennale des Antiquaires will take place from September 15th to 22nd in the Grand Palais, one of the most beautiful place in Paris. Some jewellery houses including Van Cleef & Arpels, Cartier or Harry Winston will display their finest wares alongside antiques. To this new edition, Vuitton (a newcomer to the haute joaillerie) will take part for the first year as well as Piaget. For some it may appear strange that these brands are now setting up shops at the Grand Palais in Paris while we would expect to see only fine antiques and arts, and not high jewellery. So why are these brands interested in participating to this event alongside tapestries or porcelain. In fact, jewellers want to reach a larger population than the strictly limited population they could reach through their shops. And at the same time they want to associate their names to other areas of creativity. Cartier understood it immediately and has been present since the first biennale. Over the last decade, the dramatic price increase for haute joaillerie and the internationalisation of the clientele changed the game rules. And being present at a fair full of wealthy and erudit international collectors now become a necessary privilege. Jacques Perrin, a member of both the executive committe at Syndicat National des Antiquaires and of the Biennale des Antiquaires recently said to the Financial Times: "Some people say to me 'why do you invite jewellers such as Harry Winston to the Biennale?' Because they pay for their booth is my reply. They too have rich customers and they sell luxury things." So why not luxury wine estates in a near future as the wine business also penetrated this luxury segment.With the reputation for producing the priciest and rarest wines in the world, the presence of some wine estates may be as natural sa some jewellers. Presenting wines in a prestigious fair which shows the most exceptional objects to a large public (it is in fact open to the public) and with a population of international connaisseurs would be a great opportunity for wine estates. Making contacts with existing and new clients and follow up with them when the wines will be presented in the home country of the collectors could be an advantage. Great wines are about art, craftmanship, excellence and brand's status. And in that sense, I would expect in the future to see some of them in this exceptional Biennale I would never miss.(More wine news on www.vitabella.fr)
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