Rising prices for wine investors
Perhaps the most important question to ask besides when should you drink a wine is when should you buy it. The system of buying Bordeaux wines en primeur (before they have been bottled and cellar-aged) used to serve château owners and wine merchants equally well. The owners didn’t have to keep their stock waiting to accrue value; while the merchants bought wines that could be sold for more at a later date. Though, recently, there has been much disquiet about the opening prices for grand cru Bordeaux wines, for they are some of the most sought after on the international market and the Bordelais know it. No longer are they prepared to let merchants profit from the high prices these wines command after a few years in the cellar. Merchants are unhappy, however, at the eye-watering opening prices of the best château wines—they are, after all, taking a risk. Buyers and wine critics have to taste these wines in barrel and predict whether the fruit, alcohol and acid will all coalesce into a balanced and elegant wine in eight to 15 years.
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April 2016
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