Following the conclusion of this year’s Vinexpo in Hong Kong, a variety of chateaux have released wine pricing information, but the biggest names are still likely to wait until mid-June.
Although many wine merchants have remained optimistic about the release prices despite the manifestation of the predicted increases, there are others who are less than pleased. Overall, the 2009 vintages are believed to bring a satisfactory value for the money, but despite the high quality of the ‘09 en primeur, some merchants have expressed the concern that buyers may gravitate toward the slightly less expensive vintages. For example, while the Haut Batailley and Giscours are both undeniably excellent wines, others like Potensac are believed by some to offer a better value, at least when considering the particulars of the vintage and those that are yet to be released. Despite these conjectures, most of the wines have sold well thus far, even Cantermerle, which is a bigger test of the market but has managed to hold on.
In addition, some fine wine investment houses have changed their approach in lieu of this year’s price increases, since it could result a low three to five year return or even a loss, in the event of an Asian correction. Also, some buyers expect prices to drop once the current frenzy subsides, which would be a game-changer for investors worldwide. As a result, some merchants are cautioning buyers against purchasing certain wines at the current high prices. For example, although the Sociando Mallet 2009 is arguably the best wine they have ever produced and has been very well-received by critics this year, some investors are opting to purchase the 2008 vintage instead, believing that it provides a better value for connoisseurs of this classic Bordeaux.