Another sign of the times re Burgundy pricing

WINE TALK
1

This is by no means an indictment of the retailer, which has introduced and sold to me a lot of great burgundy, but just received their email for the 2011 Mugneret Gibourg Vosne-Romanee village at $85/btl. The kicker is that this is characterized as a “very sharply reduced price”. If true, even scarier. Thinking that in terms of general quality level, the '11 can’t be much above, it at all, the '07, which I show to have paid $55 for just 2-3 years ago.
Maybe because of the producer, this will all sell, but this is one that at least for academic purposes will want to see if it can get bought appreciably lower somewhere in the next couple of years.

2

Increased demand = increase in price. Simple economics. This producer is now fashionable and very much on the radar.

Good stuff, though!

3

Short crop. More interest in Burgundy around the world. Worse exchange rate. A producer that has risen rapidly in status the past few years. Not that far out of line with 2009 and 2010 pricing. And low yields again for 2012 and 2013, so producers are looking to cover costs and survive through three difficult vintages (and who knows what 2014 will bring). Honestly, I don’t think this should be a shock, it’s just the new reality. I wouldn’t count on finding this wine (or many others at much lower prices in the future.

4

It’s Burgundy. Just fork out whatever it takes! [wink.gif]

5

What a lot of dosh…

  • Try to sell a Burg wine at the so-called market price (wine searcher)
  • Then try to buy some Burg wine below so-called market price
    I am very successful at buying below market price but I have never managed to sell anything at market price…although I don’t try hard. Is this “market” rigged? Is there is a club that hoards some stock to keep prices high? I don’t know…but there is a quiet market where you can buy below “public” price if you try hard.
6

I was recently offered 2012 Fourrier Clos St Jacques for $650 a bottle. I wrote back thinking it must be a typo. It either had to be the wrong price, or be the price for the Griotte. Nope, that was the correct price.

7

I bought a dozen 05’s for around US$100 each. Cheers Mike

8

[welldone.gif] [winner.gif] If you are looking to thin the cellar, I would be happy to take some off your hands. flirtysmile

9

Well that makes the case of '06 Les Chagnots I paid $67/btl for look pricey.

And I agree no shock for sure, but rather a sign of the times. Good news has been the ability to find attractive buys for sometime on backfills including '05s. Just glad like many there is wine in the cellar and that it will be no great loss if I never own much in the way of '11s. Might well prove to be the case for '12s as well.

10

Speaking of MG and insane pricing, just got a blast today with MG priced like Roumier. $470 for 1996 Ruchottes and Clos de Vougeot. $139 for 1999 Vosne Romanee, $129 for 2005 Vosne Romanee.

11

James, my buying days are at an end so need to keep them, that is for now anyway…
Mark, do you mean Les Goulots? My allocation of CSJ went down to 6 and price up about 30%. Still bought a dozen of some of the other Gevrey 1ers including Les Goulots. Fourrier were one of the best in 06 and have power that is generally missing from the vintage, have you tasted it?

12

[quote=“Mike During”]James, my buying days are at an end so need to keep them, that is for now anyway…
Mark, do you mean Les Goulots? My allocation of CSJ went down to 6 and price up about 30%. Still bought a dozen of some of the other Gevrey 1ers including Les Goulots. Fourrier were one of the best in 06 and have power that is generally missing from the vintage, have you tasted it?[/quote

Sorry Mike, should have clarified that my reference to the '06 Les Chagnots was that it was M-G, not Fourrier. Funny however, is that yesterday I bought their last bottle of Fourrier '06 Combe aux Moines from Woodland Hills in the New Year’s sale. Otherwise I have missed out on his '06s although I have good coverage in '05, '07 and '09. While of course super-young, was obliged to participate in consumption of a bottle of the Fourrier '09 Les Goulots in a shop two years ago. It was stupidly good. I proceeded to buy what I could find of the Goulots…found quite a bit more of the Cherbaudes, which I presume to be a pretty close proxy.

13

That’s because, like Dr. Who, points have the ability to travel back in time and improve the quality of wines produced in vintages past.

14

I need to adjust my CT info. I have the '99 VR at $40 and the '05 at $60! I used to have the '96 Ruchottes. I have the '96 Les Feusselottes and '95 Clos Vougeot either of which I would be happy to sell at 1/2 the price they are asking for the '96 RC.

15

I think the other piece in all of this that I haven’t seen is the three tier system is NOT working at this stage in the game. Distributors are barely paying for the wines before they immediately turn around and sell them. I understand the importer and retailer making their mark-ups. But distributors (at least here) get the highly allocated wines in and make their mark-up…sometimes more so than what’s recommended and then pass it along to the retailer.

16

Fourrier’s done a great job at getting Asian demand for the wines. The CSJ was such great value back in the '02 vintage (around $75 or so)…

17

For fun, here are my average prices paid and quantities purchased for Fourrier CSJ

2001 - 8 bottles, $89
2002 - 58 bottles, $82
2003 - 12 bottles, $80
2004 - 12 bottles, $55
2005 - 26 bottles, $130
2006 - 6 bottles, $120
2007 - 6 bottles, $95
2008 - 6 bottles, $101
2009 - 3 bottles, $155
2010 - 3 bottles, $150
2011 - 3 bottles, $160

Volume drop off was severe!

18

That is awesome.
Please don’t show us Roumier.

19

Love this discussion - and the fact that more people aren’t screaming ‘bloody murder’. If it were nearly any other variety and any other part of the world, the thread would be blistering with folks upset, claiming that it’s time to move onto somewhere or something else . . .

Just saying . . .

Cheers!

20

My favorite was the admiration for Fourrier’s skillful capturing of the Asian luxury market!