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05 December 2013


Robert Parks

For me the only motivation I have to buy any wine en-primeur after 2005 was to guarantee that I could obtain the wine I wanted from several of the smallest high quality chateaux. The owner's have analyzed the situation and maneuvered into a "leave no money on the table" position: taking all of the potential long-term profits of their long-term loyal en-primeur buyers for themselves, up-front (!)= no risk (!), by steeply raising the en-primeur prices and maintaining them at a no-appreciation-possible level. Certainly the asian market has been an enabler of this monumental money grab. The 2008 vintage was an outlier because of the combined effects of the troubled world financial markets, initially low quality ratings, etc. I am very interested to see how the 2013 vintage plays out over the next 5 years.
Best Regards, Robert Winemaker at Sathebo Winery

Ebenezer Spud

how ironic that Hugo Rose seems to have confused the word bold with bald!

Donald Howes

The only two recent vintages where there was any financial incentive to buying en-primeur were 2004 & 2008 Bordeaux. For the other vintages, you might as well have left your money in a savings account and bought when the wines became physical. In 2009 & 2010 waiting would have saved you quite a lot of money...;o)

Hugo Rose MW

Agreed such a bald headline needs deeper analysis. What is the compounded annual appreciation in each case? And if I'm not mistaken many 1996s took almost a decade to rise above their opening prices.

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