Probably worth starting it’s own thread as the Bordelais are seriously reducing prices in what looks to be a very good vintage. Two major chateaux have released at 30% below the 2018s.
Today Palmer at around £1000 a six pack, roughly translated to $2500 a case of 12 just under $210 a bottle.
Pontet Canet is roughly $80 a bottle.
Cantemerle is also now out and down nearly 18% in price, I normally can’t resist it and am wondering what the critics will think. A lighter vintage than 2018 is reported which sounds promising.
I’ve seen no reason to buy futures in any recent vintage, but think this may be the year. I’m still surprised the Bordelais are really reducing pricing.
The tariff issue is an interesting one. K&L, for example, offered the Pontet-Canet at $85. Wine.com just e-mailed an offer at $80. But K&L’s terms and conditions, if I read them right, said “this price is based on current tariffs” and reserves certain rights if the tariffs increase (also with no promise of a partial refund if the tariff goes away, though they have also apparently not been trying to back out of deals on wines offered before the tariffs, as in the TWM example from another thrad). Wine.com’s e-mail, in contrast, says that their price is based on no tariff and reserves certain rights if any tariff is in place at all (though it does not say that the buyer will be obligated to pay the tariff as opposed to any other option, it just says, essentially, “we’ll deal with it then”).
This issue has far more significance with wines under 14% ABV, obviously, but I thought one of the other threads said that Pontet-Canet is 13.5% in 2019.
Anyway, I find it interesting. Seems like buying at one vs the other is not only betting on the future price of the wine and the viability of the retailer, but also the state of the tariff 2 years hence.
I suspect that every retailer offering futures will have a “based on existing tariffs” clause somewhere on their site or in the invoices. It would not be prudent to leave that to chance.
Although I will not be buying any futures, no matter what, I do like the fact that the bordelais are recognizing the economic and geopolitical situation in which their products are being offered. Sensible.
I have not tasted them.
The data points that I have is from talking to owners and from various sheets by the chateaux post malolactic.
They are less alcoholic, perhaps up to 1.5%
They are agreeably fresh.
All this is as per owners, so take with pinch of salt. I had promised myself I would not buy, and here am I taking a couple of flyers, because these prices are relatively weak. I bought magnums of Palmer and a little Pontet Canet.