2019 Bordeaux Campaign
You will recall our advice that the Bordeaux 2019 campaign has been shaped by the Covid-19 crisis and the fact that we along with the worlds other wine buyers and experts have been unable to visit Bordeaux and accordingly the normal two weeks of tasting assessment and publicity for the campaign that ordinarily starts in May never happened. Quite suddenly, the growers have decided to start the campaign now with only renowned journalists and a few others having had the opportunity to taste some of the wines posted to them around the world.
As we enter our 6th Bordeaux EP Campaign – the 2019 vintage is widely regarded as another very good or exceptional vintage, indeed the prevailing weather conditions were favourable. 2019 marks an extraordinary run of 6 good or very good vintages in a row. During the current global upset – price is going to be the main driver with making this campaign a success or not for all parties.
This morning, as I write this report – Chateau Pontet Canet 2019 has just been released at 30% below the 2018 price – this is unprecedented – and hopefully sets the tone for the campaign ahead. This move is also consistent with the reduced price trends of some of the lesser known and non-investment grade wines which started to break cover yesterday and on Monday.
2014 is our best financially performing campaign, so with the 2019 wines being of a higher quality – this is certainly an exciting move and signals a great opportunity for investors.
Following the 2018 campaign, we will receive the same allocations of the blue-chip wines we received last year – so we will have good stocks of Lafite, Mouton Rothschild, Margaux, Canon, Rauzan Segla, Lynch Bages and more.
This years campaign started very late with a jolt and is likely to finish quickly as well, it will probably be done and dusted within the next 4 to 5 weeks – so we need to act reasonably swiftly.
Early signs are that the wines are exceptional, the vintage superb and release prices from the Chateaux, if they follow the early and quite logical trend setters, will give investors a fantastic opportunity to make strong returns over the usual investment window.
One of the three bottles of the 1869 vintage that sold for a record $HK 1.8 million each at Sotheby’s Oct. 29 auction in Hong Kong of wines sourced directly from Chateau Lafite-Rothschild. Each was expected to fetch between HK$40,000 and HK$60,000. Source: Sotheby’s via BloombergWhat The Critics Are Saying
Traditionally, the world’s most renowned wine experts and critics visit Bordeaux to taste the latest vintages in March, alongside the English Wine Trade. However this year – the critics will be sampling the wines from home. We welcome back Neil Martin to the Primeur tastings – he is the critic we follow most closely. It will be especially interesting this year as the 2019 Bordeaux wines are more ‘classic’ in style – which will suit the palate of Martin. The scores to date from other critics such as Suckling have been positive – he has just given Pontet Canet 98-99 points, that is in line with his 2016 score.
At this point – it looks a great opportunity for investors
The Bordelais are not renowned for their ability to read the market and set their prices at a realistic level, this has been a concern for the last two years in particular, however the Global Covid-19 crisis appears to have brought them to their senses! – if you are looking for a place to invest, then the 2019 currently looks like a great opportunity for investors at this stage.
If you would like more information on the campaign – please do keep an eye on our website where we will be posting updates and relevant investor information where appropriate.
At last we are underway!!………………….
Charles Waud
Director, Waud Investment Wines