We’ve seen it happen in Burgundy. We’ve seen it happen in Bordeaux, and more recently in N. Rhone, too.
For those like me, who’ve been wanting to venture into Italian wines but simply haven’t for one reason or another, have we missed the boat on reasonable pricing? Yes, I know the thread title says “Barolo” and I say “Italian wines” here — the reason for that is my perception that, perhaps, only Barolo boat has left for sea …
At the top end yes absolutely (Gaia, Conterno, Giacosa), but still nothing like in Burgundy or Bordeaux. There have been a run of great vintages in Barolo and Barbaresco that have been quite ample, which seems to have kept prices from escalating too quickly. Iin Barolo you can do extremely well for under (or at) $100. Barbaresco is still a better value for the same quality.
I agree with Rory. And it’s a good point about the vintages. That’s a complete contrast with Burgundy, where you have had a string of difficult and very small harvests in this decade.
Also, I don’t think that Langhe nebbiolo has the cachet in the UK that Burgundy does, and I’m sure little is sold in France.
Also, remember that the euro is back up to $1.23. It was $1.05 a year ago in January. That affects both categories.
I feel like I never benefited from the exchange rate as much I should’ve…
To answer the OP, most of Piedmont with a few exceptions seems to just steadily climb, but generally remains pretty reasonable. Producers don’t dramatically raise prices in the good vintages, which helps as well.
An ‘echo’ from me to the posts above.
Some went bonkers years ago, and others will join them, but there is still fine value for those prepared to look beyond the obvious names and taste widely / visit the region and taste widely. I reckon there has been more price movement recently in the middle-upper ranks, but for now I’m happy I can find very enjoyable alternatives to anyone who gets greedy, or whose prices get talked up by critics or us lot.
What Barolo and Barbaresco currently lack is the 1er / Grand Cru ranking, where even a flaky producer with a Grand Cru site can charge a hefty price.
Things may change and the past is no guide to the future.
I think Barolo is still reasonable, with numerous producers undervalued for the quality of wine. Barbaresco is the same. Notable exceptions remain, as others have noted.
Overall, though, prices are creeping up throughout Italy, and that’s not just SuperTuscany and Barolo - now is a great time to buy the wines of Southern Italy, for example, before they really take off. Campania, Basilicata, Sicily. Aglianico, Nerello, Negroamaro, just for example. Alto Piemonte is creeping up too, as public recognition follows increase in quality.
To me, the wines of Northeast Italy as you get closer to the Balkans and to Switzerland and Germany are a total black box to me. Same goes for much of the interior or middle of the country, including the Marche, Emilia-Romagna, Lombardia, Lazio, Umbria, etc, where I’ve only tasted sparingly. Fun places to explore…
I saw a major increase in pricing about 10 vintages ago, and it’s seemed to hold fairly steady since then.
As the bigger names change importers and the like, we are probably going to see another spike -
Not really, though it has started. The handful of truly sought out producers, and 100pt wines, have become very expensive, but for the most part the wines remain quite good values. $40ish for base Barolo from Oddero, Massolino, F Rinaldi, and Brovia, maybe more today since the cheapest offerings have all been bought up, are remarkable values. $60 for cru wines from the likes of Cogno, Germano, F Rinaldi, and Marcarini are tough to beat for QPR. I’ve said it before but it is worth repeating. $60 for Cogno’s Ravera is a steal. Not cheap but truly a world class wine.
There are of course the outliers, but even Giacosa remains a relatively decent value. $165 for the 2013 Rocche compares reasonably with the $120 I paid for the 2005, the last vintage I had purchased. Again, not cheap but in the grand scheme of things not expensive.
There is still much decently priced Barolo out there, I have to think that some of it will be less decently priced with each passing vintage, but across the board the quality has never been better so QPR remains strong.
Curios as to which bigger names you are referring to? I think the bigger names are pretty set in their distribution channels.
Not only Barolo, but Brunello (especially with the 2013s being released soon) pricing is starting to go bonkers too.
The quality you can find from $30-$100 in Barolo/Barbaresco largely outstrips what you can find in Burgundy, but you also have to appreciate what makes Nebbiolo so unique. That ferocious acid/tannin thing will put off many drinkers.
I would say the same is true of the North Rhone (for different characteristics). I think both are more “niche” wines, with a more narrow palate appeal than Pinot Noir (and yes, I am generalizing grossly).
No…it hasn’t. The mark-ups we see here in the US is mostly the 3 tier system & greedy retailers that know they can get more than the ssrp. At the cellar door prices are still fair and I’d say a value when comparing the wines to other regions like Burgundy or Bordeaux.
Here’s the other part…if you’re not chasing “big names” you can get wines that are actually a steal. So i’d say it’s time to buy some while the prices are still good. I do think it could be very, very different in a decade.
Not yet, outside of “the usual suspects”, but if we keep posting about how cheap they are in multiple threads here, they most definitely WILL, so stop it.
3 years ago they couldn’t give away Italians at auction. Now they are constantly going much higher than the high estimate. Especially the high end and good wines with age. At least in the auctions I watch as watch is all I can pretty much do these days. 
George
Not yet. There are a few wines that have gotten very difficult to find, which I think might be the first sign that price escalation will happen. With plenty of '13s available now and a couple more very good vintages coming soon, I think now is the time to buy these wines.
Can you give a few recommendations for Barolo for the '13 vintage. Would like to be under $100 bottle. Something that would be ready to drink in the next several years as at 51 waiting 15-20 years might a stretch. Just looking for more diversity in my cellar.
Thanks
Agree on not yet, outside of a couple of producers. But I’ve noticed that desirable cuvees from good vintages do not sit on the shelves for long anymore. I also find it difficult to backfill. I don’t see a lot of non-trophy wines on the auction block.
Well now that the Italians voted for a far-right government and Brexit-like action may be taken, perhaps pricing will go down? 