Eyebrows rose yet again at further new records set for fine wine prices of Bordeaux first growths led by the Hong Kong offices of the major fine wine auction houses.
The quality of Bordeaux 2010, across the region, is very high. A raft of lesser known Cru Bourgeois and Petit Chateaux have produced beautiful wines, at accessible prices. Wines that have something to say about the place in which they are grown. As money chases the big guns, such chateaux have been widely hailed as offering some of the best value to be found in the fine wine market.
Robert Parker has released his in-bottle scores for 2008, the vintage that he previoulsy loved but that other critics weren’t as positive about. The result is quite extraordinary: the vintage as a whole is downgraded by a massive 1.18 point.
The Bordeaux 2010 En Primeur campaign has finally started. The tastings are done and reviews have been coming out thick and fast. The first wines have been released and once Robert Parker will release his scores (expected on the 3rd of May), we will see Chateaux step up the pace of releases.
Bordeaux 2010, as with Bordeaux 2009 before it, is a vintage born out of extremity. In opposition to the no less extreme but regular cycle of 2009, 2010 is the fruit of exceptional meteorological conditions that tested the vine to its limits. 2010 is an extreme vintage which, in this instance, went the right way.
The record-priced Bordeaux 2009 vintage currently trades at -2% off its London release price and so far has failed to produce growth in accordance to expectations. We look into alternative fine wine investment strategies that – albeit with hindsight – would have netted a better return.
Is not the time-honoured investment advice to buy low and sell high?
A fresh new study by 3 London Business School (LBS) economists is the latest challenge, in a series of long-running research going back as far as the 1980s, to the efficient market hypothesis.