Friday, March 24, 2006

Worried about high 2005 prices? Lighten the mood with a little 2005 humor.

Neal Martin at wine-journal.com has a funny tongue in cheek article about how 2005 is the worst Bordeaux vintage on record. Enjoy!

Bordeaux 2005: The worst vintage on record

Tuesday, March 21, 2006

Why is 2005 Bordeaux such a big deal?

The 2005 vintage is already getting a lot of hype. Many are comparing it to the 1982 and 2000 vintages. Critic Robert Parker will formally review the vintage in the April 2005 edition of The Wine Advocate, but he has already posted his initial impressions online:
"Hate to tell you, but 2005 is the real deal....I don't think it makes much sense to say,as many Bordelais are already..that it is the finest vintage in memory, but it truly has everything....great aromatics...fabulous ripeness...high but sweet tannins...and amazing concentration....and unlike 2004,2003,2002,and 2001,it actually appears very consistent in all AOCs....but I will return in late March to do the full monty tastings....I can already see the "usual suspects" saying Bordeaux has sold its soul to a few American wine critics...why?.....alcohols in 2005 are higher than 2003(which are primarily in the 12.8-13.5% range)...blame the drought..tiny yields and abundant sunshine...the real causes...not any wine-writer..."
- January 13, 2005. eRobertParker.com

"Of course, I will be here in Bordeaux for another week,but 2005 is very exciting...and particularly at the lower levels....where a plethora of exceptional wines have been produced...and it is these wines which are never given a thought by the speculators so I think there will be many splendid 2005 Bordeaux available for very reasonable prices....unlike the famous names....you can be sure they will be priced in the stratosphere...the vintage is that exciting,and demand is already at a frightful fever pitch 4-6 weeks before prices are announced.....actually....to put it another way....the vintage looks to be historic in terms of what has emerged....."
- March 18, 2005. eRobertParker.com

"If you follow the Bordeaux market..once past the top 40 or so chateaux...prices are ,and will remain reasonable....even cheap compared to similar wines of their quality....2005 prices will be no different...absurdly high at the top of the pyramid...but very fair for the great majority of high quality wines...this is a vintage that goes very deep in quality...I had many wines that sell for $12-16 that are amazing ....and these are never subject to price speculation because they emerge from humble appellations and are not famous......"
- March 18, 2005. eRobertParker.com

What is this all about?

The official term is "En Primeur" - buying wines at initial offering price well before it is actually bottled.

Each spring, the chateaux in Bordeaux hold tastings of barrel samples from the previous year's harvest. Members of the wine trade go to Bordeaux to taste and evaluate the wines. A couple of months later (generally in May), a portion of the wine is released at an opening price. The Courtiers represent chateaux owners and typically sell their wine to negociants (for about a 2% fee), who then quickly sell their futures to distributors and importers who pay the negociants before the wine is released. In turn, the wine then sells to retailers (and restaurants) and finally to the consumer, who also pay before the wine is released and take delivery about 2 years later.

Shaun will be going to these special tastings and posting his notes and impressions here for you to read. It is important to WineCommune to get a first hand knowledge and insight to each of the wines that we will be offering as futures.

Why buy En Primeur? It guarantees wine at initial price (and allows one to select the desired size formats). Many times, but not always, the prices go up with each release (tranche), as the supply diminishes and/or as demand increases.

This system encourages early buying and is generally thought to play to the interest of the chateaux owners. Nevertheless, for many, it does present the best opportunity to buy a wine at the lowest price, especially in great vintages.

We're going to Bordeaux to taste the 2005's!

From April 2 through the 6th, Shaun Bishop, WineCommune's lead wine buyer will be in Bordeaux tasting the 2005's at chateaus, négociant offices and the UGC (Union des Grands Crus) tasting.

BOOKMARK THIS WEBSITE! Shaun will be posting his notes, impressions and pictures throughout his trip to give you an inside look at what goes on during this important time.

Late March/early April is when the Chateau's taste distributors and big retailers on their wines so they can bid for the futures contracts. As a consumer, you will start getting future offers soon after these tastings (probably May). With 2005 looking to be as big or bigger than 2000, you need all the information you can find.

Remember, begin checking this website regularly in April for an inside look at 2005 Bordeaux. We will try to to get Shaun's notes up quickly as well as find the hot wines for you.