The 2009 Bordeaux vintage is being given a lot of hype and plaudits prior to the major round of tastings and reviews in late March / April. Release prices are likely to be on the steep side, which should give uplift to quality back vintages still available and offer ‘value’ as many look elsewhere for something a little more realistic.
Market demand remains very strong, still fueled principally by Asia. Supply and demand comes to the fore once again …evidenced by the stock lists of major merchants such as Wilkinson, and Farr, as well as recent auction performances at Sotheby’s indicate the shortage of quality fine wine from decent vintages is becoming more pronounced.
There has been a general recovery of the fine wine market after the fall-out of late 2008 with the Liv-ex 100 index gaining 15.7% in 2009 and annual growth over the past decade averaging 11%. This is despite the variable performance over this period and certain wines performing far more strongly than this, most strikingly Lafite 1982 up 876% in the decade.
There is a glut of stock from recent vintages in Bordeaux still available on the marketplace – with 2008, 2007 (woefully overpriced in general), 2006 and even some 2005’s which are yet to see significant bounce back from the 08 losses.