It was notably quiet on the release front this week. But while the Crus Classes waited for Parker to show his hand, there were a few flickers of activity in Barsac and Sauternes. Unfortunately, price reductions were modest and most of the wines have failed to stimulate real interest.
So far, only Rieussec (JS 96-97) has seen active trade on Liv-ex. The wine is changing hands at around £250 per case, making it one of the most affordable vintages available (along with the 2006 and the 2008).
As we have mentioned previously on the blog, Rieussec is a gold mine for those on a budget. In recent years merchants have acquired countless cases in order to secure allocations of Lafite. Stock has then been offloaded on the secondary market, thus depressing prices.
In the last few months, however, prices have edged higher. It seems that buyers are once again seeking out wines that offer value for money - and, as bargains go, Rieussec is difficult to beat.
If we divide the Liv-ex Sauternes 50 into its component brands, we find that Rieussec has outperformed its peers this year. Vintages 2000-2009 are up an average of 5%, compared to 3% for Coutet and 1% for Suduiraut.
2011 is generally being perceived as a better vintage than 2010 (unlike with the reds) and the release prices have sensibly been put down slightly in a difficult climate. Given the improvement in sterling as well these do represent excellent value.
Posted by: Steve Webb | 30 April 2012 at 09:19 AM