Interesting comment from OW Loeb:
As you have probably gathered from the resounding silence from OWL, we did not – again – go out to Bordeaux for the annual primeur junket, which took place last week. In fact I was in South Africa with a fine body of men - the wine committee of a London Club; much more productive and much more fun!
The Bordeaux wine market has completely lost its way in recent years, and needs to be 're-set', to get back to basics, and re-connect with its traditional clientèle. My first primeur vintage was 1978. In those days only good vintages were sold, or, more importantly bought, 'en primeur'. The prices were low because the château owners were getting quick cash (how sensible) and us merchants were able to make a decent margin (even more sensible) for all the work involved (there is much more work than with a straight forward sale from stock).
Now they try to sell totally indifferent vintages (such as 2013) for absurd prices, in the full knowledge that – in all probability – their wines will still be available at the same price (or cheaper….) in five, six, eight years' time; and us poor merchants make a pathetically small turn to boot.
Why do we bother, I hear you cry! Well, we don't. We will return to the Bordeaux primeur market when the next vintage demands that we taste it, and we will hope against hope that, despite the wines being worth tasting, the prices will be sensible (eternal optimist, me).
There you have it, rant of the day. We will leave you in peace now, and wish you a very happy Easter,
Chris
Chris Davey |
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