Is Piemonte Going To Be The Next Hot Area?

Ian_Dorin · January 7, 2014, 6:38pm

No Monfortino in 2009.

David_Bu3ker · January 7, 2014, 6:41pm

On my recent trip there, I liked Syrah from coastal Chile much more than Pinot Noir.

Thomas_Keim · January 7, 2014, 6:54pm

Good point - I’ve loved the Sauvignon Blancs from Chile’s coastal vineyards as well - But, I’ve had some pretty promising Pinot Noirs from there as well…

Tvrtko_C · January 7, 2014, 6:54pm

Chris Seiber:

Eric Ifune:

Actually this was several years ago. Prices have increased for the big names already.

I think the answer to the original question is clearly no. Prices have only really escalated for a handful of trophy bottlings (but not even all the trophy bottlings – has Gaja gone up that much in recent years?), plus a handful like Monprivato that are, regrettably but probably deservingly, moving into that category. There is still an ocean of very good Barolo and Barbaresco that isn’t the kind that gets buzz among elite geeks that is languishing on the shelves for $35-60, and is often steeply discounted on clearance.

And my experience has consistently been that Barolo and Barbaresco have a fairly narrow appeal, even among wine geeks, and especially with the broader population of people who buy quality wines (by that, I mean people who are not geeks but still buy $30+ bottles at real wine stores rather than the supermarket). They are unusual, need lengthy aging and/or aeration that most people don’t undertake, and people don’t easily understand them. They don’t feature ripe fruit prominently in the way that attracts a broader audience. I’ve seen it over and over again when I try to pour them for non-geeks.

I love the wines, I’ve loved visiting there on multiple occasions, and all that, so this isn’t me being negative about Piemonte. But I don’t think they’re anywhere close to being a wine that is going to cross over to a much broader audience. And combine that with the string of good-to-great vintages (what is it, 14 of the last 16?), and I don’t see prices taking off other than the few trophies becoming, as Stuart says, “trophier.” At most, I can see some modest gradual expansion of their share of the Italian aisle.

If you think of wines like movies, I think nebbiolo wines are like the better of the indie/foreign films. They don’t wow with size or effects or star power, but they get under your skin and make you think. A few will hit it big, most of the good ones will only be a hit within small circles of film geeks and cognoscenti, they’ll gross under $10 million at the box office, probably more people will brag about liking them than actually really do see and like them, and the big action films and romances and comedies (in this metaphor, the cabs and chardonnays and pinots) will make many multiples more dough. I think that’s Piemonte, and I’m cool with it.

Nice post. I hope to God you’re right.

Charles_Zedlewski · January 7, 2014, 6:55pm

If your definition of “hot” is the equivalent of the effect of Sideways on new world pinot then yeah I agree nebbiolo is a little too inaccessible for tens of thousands of cases of $60 / bottle stuff to fly off retail shelves. But Burgundy is even more quirky and impenetrable than Piemonte and yet the prices are going through the rough. It sure seems plausible that they will pick up momentum among collectors. I think the long string of good vintages is maybe the one tempering effect but you could also argue Burgundy hasn’t has a truly bad vintage since 2004.

Al_Ehrhardt · January 7, 2014, 7:04pm

I’m aware of that, but Roberto didn’t bottle a Monfortino because it did’t meet Monfortino quality. In 03 when there was no Monfortino, the CF prices didn’t jump this much, but I am aware 09 is not 03.

The CF pricing will not roll back in 2010 when there should be a Monfortino released. This jump will add to all future CF vintages.

Gregory_Dal_Piaz · January 7, 2014, 7:27pm

Fiano: Italy’s greatest white.

David_Bu3ker · January 7, 2014, 10:30pm

I tried a handful of Sauvignon Blancs and hated all but one of them. I found that one barely drinkable.

Of course I am a noted Sauvignon Blanc hater.

Kelly_Walker · January 7, 2014, 11:35pm

For many of the reasons cited above there is no current momentum nor any idividual, short of a rapper God forbid, that is creating the spark. Supply and demand have stayed in relative equilibrium consistent with the rising market. The argument that the wine cognicenti will lead the way is bogus. If Piedmonte becomes hot (I personally feel it is already hot enough) it will gbe because Burgundy is going to balloon out and the money, just like stocks, will have to flow somewhere for potentially high end in-demand wine.

Richard_Malloy · January 7, 2014, 11:55pm

Tvrtko C.:

Chris Seiber:

Eric Ifune:

Actually this was several years ago. Prices have increased for the big names already.

I think the answer to the original question is clearly no. Prices have only really escalated for a handful of trophy bottlings (but not even all the trophy bottlings – has Gaja gone up that much in recent years?), plus a handful like Monprivato that are, regrettably but probably deservingly, moving into that category. There is still an ocean of very good Barolo and Barbaresco that isn’t the kind that gets buzz among elite geeks that is languishing on the shelves for $35-60, and is often steeply discounted on clearance.

And my experience has consistently been that Barolo and Barbaresco have a fairly narrow appeal, even among wine geeks, and especially with the broader population of people who buy quality wines (by that, I mean people who are not geeks but still buy $30+ bottles at real wine stores rather than the supermarket). They are unusual, need lengthy aging and/or aeration that most people don’t undertake, and people don’t easily understand them. They don’t feature ripe fruit prominently in the way that attracts a broader audience. I’ve seen it over and over again when I try to pour them for non-geeks.

I love the wines, I’ve loved visiting there on multiple occasions, and all that, so this isn’t me being negative about Piemonte. But I don’t think they’re anywhere close to being a wine that is going to cross over to a much broader audience. And combine that with the string of good-to-great vintages (what is it, 14 of the last 16?), and I don’t see prices taking off other than the few trophies becoming, as Stuart says, “trophier.” At most, I can see some modest gradual expansion of their share of the Italian aisle.

If you think of wines like movies, I think nebbiolo wines are like the better of the indie/foreign films. They don’t wow with size or effects or star power, but they get under your skin and make you think. A few will hit it big, most of the good ones will only be a hit within small circles of film geeks and cognoscenti, they’ll gross under $10 million at the box office, probably more people will brag about liking them than actually really do see and like them, and the big action films and romances and comedies (in this metaphor, the cabs and chardonnays and pinots) will make many multiples more dough. I think that’s Piemonte, and I’m cool with it.

Nice post. I hope to God you’re right.

Yes, hope! Thanks, Chris!

Oliver_McCrum · January 8, 2014, 1:22am

Yes.

Thomas_Keim · January 8, 2014, 5:48am

Actually Kelly, if you think about it - Barolo would be a pretty cool word to rhyme with… just think about the possibilities…

Chris_Seiber · January 8, 2014, 7:35am

For some weird reason, I don’t feel as though anything is about to have its “Sideways moment.” I think so much information and variety has flowed out in this new internet era, I don’t know that there is any big wave coming.

Sure, some things might have boomlets and expand their market share a bit, maybe California Grenache, California Grenache Blanc, Etna Rosso, Alto Piemonte, Chinon, but I don’t feel a big one about to hit. Does anyone else feel this way?

Mike_During · January 8, 2014, 8:27am

Chris Seiber:

Eric Ifune:

Actually this was several years ago. Prices have increased for the big names already.

I think the answer to the original question is clearly no. Prices have only really escalated for a handful of trophy bottlings (but not even all the trophy bottlings – has Gaja gone up that much in recent years?), plus a handful like Monprivato that are, regrettably but probably deservingly, moving into that category. There is still an ocean of very good Barolo and Barbaresco that isn’t the kind that gets buzz among elite geeks that is languishing on the shelves for $35-60, and is often steeply discounted on clearance.

And my experience has consistently been that Barolo and Barbaresco have a fairly narrow appeal, even among wine geeks, and especially with the broader population of people who buy quality wines (by that, I mean people who are not geeks but still buy $30+ bottles at real wine stores rather than the supermarket). They are unusual, need lengthy aging and/or aeration that most people don’t undertake, and people don’t easily understand them. They don’t feature ripe fruit prominently in the way that attracts a broader audience. I’ve seen it over and over again when I try to pour them for non-geeks.

I love the wines, I’ve loved visiting there on multiple occasions, and all that, so this isn’t me being negative about Piemonte. But I don’t think they’re anywhere close to being a wine that is going to cross over to a much broader audience. And combine that with the string of good-to-great vintages (what is it, 14 of the last 16?), and I don’t see prices taking off other than the few trophies becoming, as Stuart says, “trophier.” At most, I can see some modest gradual expansion of their share of the Italian aisle.

If you think of wines like movies, I think nebbiolo wines are like the better of the indie/foreign films. They don’t wow with size or effects or star power, but they get under your skin and make you think. A few will hit it big, most of the good ones will only be a hit within small circles of film geeks and cognoscenti, they’ll gross under $10 million at the box office, probably more people will brag about liking them than actually really do see and like them, and the big action films and romances and comedies (in this metaphor, the cabs and chardonnays and pinots) will make many multiples more dough. I think that’s Piemonte, and I’m cool with it.

+1

Tvrtko_C · January 8, 2014, 11:20am

While I love Fiano as much as anyone (and it can be absolutely stunning), I believe there are a handful of white wines elsewhere in Italy that are as good as (in some cases possibly better than) the best Fiano. Overall, though, Campania might just be Italy’s most interesting white wine region from my perspective.

Kevin_Harvey · January 8, 2014, 12:48pm

For Italian whites my vote goes to Etna Bianco Superiore.

Pat_Martin · January 8, 2014, 12:51pm

I like the metaphor. I also like that Pinot is the comedy genre! Cali cabs are definitely the high production, compulsory nudity, action blockbusters.

Ian_Dorin · January 8, 2014, 1:26pm

I think the more fair comparison is the 2007, and that did go up slightly vs. the 2006.

The 2010 ain’t going down b/c it’s supposed to be an exceptional vintage

Mattias_Hansen · January 8, 2014, 1:29pm

I would love to learn more about campanian whites, an area where i am a complete novice. Can you recommend specific producers and vintages for someone wanting to learn more about this region?

John_Webber · January 8, 2014, 3:16pm

I think we may be too late…

sittin’, kicking lines with my boys from othello
pulling corks of that Monfortino Bah-rolo
ahhh, love that meaty taste in my mouth, no homo
now I want a Gaja
not a damn man but my Barbarescan des-I-ah
Loaded up feeling good
Popping white truffles, like Clerico lay that wood
Bill Klapp, Bill Boykin, Bill me for the pleasure
Piedmont got no shitty pinot in da hood, pop champagne remember Bob Wood

-Kanye West