Liv-ex Fine Wine Market Blog

The World of Fine Wine on Burgundy 09

The World of Fine Wine magazine is offering readers of the Liv-ex blog a preview of its Burgundy 2009 report, which includes tasting notes and scores on more than 300 of the region's top wines. Liv-ex users can also access more than 1,000 WOFW scores by logging on to Liv-ex.com and visiting our individual wine pages, where they are displayed in full alongside the reviews of other leading critics.

The World of Fine Wine is a highly acclaimed quarterly magazine whose tasting panel includes Tim Atkin MW, Clive Coates MW, Hugh Johnson, Oz Clarke and Tom Stevenson. In addition to the Burgundy 09 report and the coverage available on Liv-ex.com, The World of Fine Wine is offering Liv-ex blog readers discounted subcription rates (five issues for the price of four). To benefit from this offer, please follow the link below.

http:www.subscribeonline.co.uk/finewine/LIVEX

Parker relinquishes coverage of California

After rating and promoting Californian wines for more than two decades, Parker announced on Saturday that he is relegating coverage of the region to Antonio Galloni, who will also assume responsibility for the Cote d'Or and Chablis. In an email to Erobertparker subscribers, Parker announced that he would use his new-found time to begin "a series of hoizontal and vertical tastings of perfectly stored California wines that will give readers insight into how they are developing". These vintage retrospectives will also cover Bordeaux and the Rhone Valley.

For many readers, the announcement comes as a clear reminder that, at 63, Parker's retirement is looming ever closer. And given the powerful effect that his opinions have had on international demand and prices over the years, full retirement would indeed mark the end - and beginning - of an era. Whether or not the Wine Advocate's stamp of approval will have the same influence on pricing after its founder's departure is up for debate, though only time will tell. Of more immediate interest, perhaps, is how Galloni's coverage of California and Burgundy will compare or differ from that of his predecessor - particularly given Parker's taste for rich, ripe styles.  

Since the announcement was made two days ago, a number of wine bloggers have published responses to the news. You can view their blog posts by following the links below. 

The Wine Cellar Insider: Robert Parker Stops Reviewing California Wine

Wine Cast: What Happens After Robert Parker?

Vinography: The End of an Era: Robert Parker Stops Reviewing California Wine 

Jancis Robinson on 2009 in the Northern Rhone

Last year, Jancis Robinson described the 2008s from the Rhone Valley as “decidedly muted” – a reminder of just how exceptional the 2007 vintage was. This year, however, the region’s offerings failed to disappoint, with Jancis describing the quality of the 2009s from the north as “very exciting”. The critic puts the overwhelming success of 09 down, in part, to high standards of winemaking and growers’ “confidence in their very particular terroirs”. In all, the vast majority of red wines tasted were awarded 16 points and above, whilst 11 were accorded 18 points or more. Top scorers include Jaboulet, Chapelle Hermitage and Guigal E, Cote Rotie Turque, both at 18.5+ points.

   
Scores from Jancisrobinson.com

Australia's First Growths

The 2010 release of Langton’s Classification of Australian Wine V sees the addition of 33 new wines to the official listing, bringing the total number of ranked wines up to 123. Importantly, the new listing, which is the most recent since 2005, features six promotions to the top-tier “Exceptional” category, which has grown from seven members in 2000 to 17 in 2010. Selections are made based on secondary market presence and value, and as such, this year's numerous additions and promotions appear to be the result of increasing demand for Australian wines on the secondary market.

Since its conception in 1991, the four-tier classification has acknowledged Australia’s finest and most sought-after wines. Only wines that have made ten vintages or more are eligible for inclusion, and the classification is revised every five years in order to keep pace with the country’s rapidly changing fine wine scene.

The current classification is composed of 58 shiraz/blends, 40 cabernet/blends, 10 pinot noirs and only 15 white wines (reflecting a strong preference for reds). As well as the newcomers to the Exceptional category, 12 wines were promoted to the second-tier Outstanding category (and four wines were added). Further down the listing, seven wines were promoted to Excellent (and eight added) and 21 were classified as Distinguished. Notable demotions include Parker Coonawarra Terra Rossa First Growth Cabernet Merlot, which fell from Outstanding to Excellent, as well as Giaconda Pinot Noir, Mount Langi Ghiran Shiraz and Veritas Rolf Binder Shiraz, all of which were demoted from Excellent to the lowest tier, Distinguished.

The table below shows the wines that have been classed as Exceptional this year (five of which are currently offered on the exchange). Of the six new entrants, five are shiraz, including Torbreck RunRig Shiraz. The wine is this year's most ambitious climber and moves up two tiers to its current position. Vintages are available at £100+ per bottle.

 
Source: langtons.com.au

Neal Martin on Bordeaux 2009

This week Neal Martin published his impressions of the 2009s - lending his voice to the growing chorus of already available tasting notes. He describes a few wines at the top end of the scale as “a clutch of spectacular… legendary wines” that were “a joy to taste: pure, delineated, fresh, silky in texture.” But where James Suckling judged 14 2009s as possibly worthy of a perfect score, Martin is far less enthusiastic. He deems only three wines as possible 100-pointers – namely Lafleur, Lafite and Latour, all of which scored 97-100 points. And although Suckling thinks the 2009s could eclipse the 2005s in terms of top-tier quality, Martin, it seems, is unconvinced.  

Here are some of Martin’s relatively cloudy comments on the 2009s…

“In terms of consistency, the 2009 falls far short of 2005… I have heard reports that the Deuxième Vins are great in 2009. I disagree… Certainly, they are better than they were ten-or fifteen-years ago due to more draconian de-selection, but 2009 was not a vintage that elevated the quality of entire vineyards.”

Too many lower-tiered chateaux, he reports, simply tried too hard – “as if they had to prove something rather than the wine.” But his greatest criticism is that many estates tarnished potential greatness through “late picking, excessive skin maceration or fermentation at too high a temperature.”

The relatively poor score for Cos d’Estournel (89-91) raises an eyebrow, especially as Suckling awarded it 97-100 and described it as “a full-through Cos, with richness and power never seen here before.” A number of Suckling's other top scores also receive less than exceptional scores (see below). Even Mouton – praised by Suckling as “the best since 1982” - received a modest rating of 94-96 points. Also of interest is the score for Langoa Barton’s (92-94), which surpasses that of its more expensive sibling, Leoville (91-93). (Martin declined to score Figeac, believing his sample unrepresentative.)

Below is a list of all the wines awarded 92-94 and above, along with selected others. For easy reference, James Suckling's scores have also been included.

James Suckling on the '09 Right Bank

James Suckling has now released his notes for the Right Bank and the scores are equally as impressive as they were for the Left. A selection can be found on the Liv-ex Bordeaux 2009 en primeur pages.

Across both banks, 14 wines were judged as possibly worthy of a perfect score. The record is currently held by the 2005 vintage, which has eight red wines with the full 100-points (as well as Haut Brion Blanc).

The fourteen are: Ausone, Cos d'Estournel, Eglise Clinet, Figeac, Haut Brion, Lafleur, Latour, Leoville Las Cases, Malescot St Exupery, Montrose, Mouton Rothschild, Petrus, Trotanoy and Vieux Chateau Certan. 

Those interested in an alternative (although similarly enthusiastic) viewpoint can read Decanter's notes, which are starting to filter through. Next week we can expect the notes from Jancis Robinson MW, followed by Robert Parker at month end. 

Don't forget to check the Liv-ex Twitter feed to read our views on the week's (decidedly wet and windy) tastings. 

Suckling releases first scores for 2009 Bordeaux

As usual, James Suckling of the Wine Spectator was early out of the blocks with his scores for 2009 Bordeaux, today releasing notes for around 40 top wines from the Left Bank.

As expected, the scores are very high. So far, the quality of the top wines look on a par with 2005 - which (in contrast to Robert Parker) he considers superior to the 2000 vintage. "There are definitely going to be some great wines," he reports, "some will be better than their counterparts from 2005, as well as from 2003, 2000 and other modern classic vintages". He also states, however, that the "2009 vintage  might not be as great as 2005 in terms of across-the-board quality".

"What strikes me the most about the 2009s is the intensity of tannins and alcohol, yet at the same time the best wines are not overdone, or made in that blockbuster style that you get from so many other wine areas outside of Bordeaux. The wines are still reserved even though they are some of the most structured I've ever seen."

Of the First Growths, Latour, Mouton and Haut Brion (all 97-100) are judged marginally superior to Lafite and Margaux (96-99). Both Latour - "this reminds me of the 1990, but better made and better raised" - and Mouton - "best Mouton since 1982 or 1986; in fact, it's like a bend of the two" - look like early favourites to be awarded perfect scores.

Other big winners include Cos d'Estournel - "could be best ever from here?" - and Malescot St Exupery - "this is absolutely fabulous" - both of which were awarded 97-100.

All the wines awarded 90-93 and above are listed below, along with the scores for the 2005 and 2000 vintages. His scores for the top names from the Right Bank are expected early next week.

Liv-ex will also be in Bordeaux next week for the tastings. Please see our Twitter feed for on-the-ground updates (we will be using the #primeurs tag).

Source: winespectator.com 

Jancis Robinson's Purple pages offer

Jancis Robinson MW - the UK’s leading wine critic - has kindly offered Liv-ex users a 20% discount on a year’s membership of her excellent ‘Purple Pages’

at www.jancisrobinson.com.

The subscription gives access to thousands of tasting notes and articles along with exclusive online access to the Oxford Companion to Wine and the World Atlas of Wine maps.  To get access to all of this for the bargain price of £55 (usually £69), simply click here and enter the promotional code: LVX321.

The offer runs until 30 April.

Bordeaux 2008 pages go live

We have now launched our Bordeaux 2008 en primeur pages on the main Liv-ex website.

The Liv-ex Bordeaux 2008 en primeur pages are designed to keep you up to date with all the important information via our independent and transparent tools. You can quickly check the data for all the top wines: such as scores from the top critics and the latest London release prices. You can also find the best current list prices, original London release prices and scores for wines from the last five vintages. Registration is necessary to view the full info.

It seems the campaign has kicked off early this year, with top right bank Angelus releasing coming out yesterday at £725 (London release). Trading and Platinum members may have noticed that it has already been offered on the Liv-ex Fine Wine Exchange.

As usual, James Suckling of the Wine Spectator was the first major critic to publish his scores and a selection of these can be viewed on the Liv-ex en primeur pages.

We are also inviting trade members who attended the Bordeaux en primeur tastings to take part in our survey on the current vintage (see last year's here). Details on how to participate has now gone out to member companies.

As part of the survey we will be asking our traders to predict the release price of a basket of wines. The participant that gets closest to the total will receive a six pack of the delicious Haut Bailly 2004. If you would  like to take part but haven't received an invitation please email info@liv-ex.co.uk for details.

Thoughts on Bordeaux 2008

The focus of the fine wine trade has firmly been on Bordeaux for the last week, with many of the trade's leading members in the region to evaluate the '08 vintage as part of the annual en primeur tastings. Next week we will give you a full news round-up. First, however, here are the views of Liv-ex's 'man on the ground', Anthony Maxwell. We’ll leave scoring and expansive notes to the professional critics, but here is a short saignée of what Anthony tasted and discussed.

· “Better than expected” was the general theme. However, this was against a backdrop of low expectations due to other factors, both economic and meteorological.

· Price is always mentioned, but never has it been such a topic. Also, ALL the négociants seem to be in the “severe price reductions needed” camp. Normally they hedge their bets a little more. This year, they are clearly siding with the international trade on the issue.

· It was very empty throughout Bordeaux compared to any of en primeur tastings that I’ve attended over the past ten years. No waiting to taste, empty roads and relatively empty tasting rooms (except for the free lunches at the relevant UGC events).

· Of the people that were there: plenty of UK trade, quite a lot of French, a few Americans, a few Japanese, no Koreans.

· Rumours of the First Growths “leading” the way with an ex-chateau price of €100 a bottle and an early release date (pre-Parker at the end of April) abound. Where the truth lies, it is hard to tell. Certainly, the 'Super Seconds' didn’t seem to keen on reducing their prices by too much.

· When asked on price, plenty of answers around the issue, including “we reduced our price in 2006 and 2007, so we have already come down.” However, this doesn’t take into account how much they reduced them in those two years, compared to how much they put them up in the 2005 campaign.

· Certainly, the trade have an appetite for a campaign and believe they can sell the wines for the right price. A vintage to re-engage the claret drinker rather than speculator? And to get the consumer back onside with the wines of Bordeaux?

· There will be a campaign, early talk of the Chateaux not releasing seem off the mark (a couple may not) but in general the Chateaux want to and need to sell their wine.