Top producers in Bordeaux have released cheaper vintages onto the market, with Chateau Margaux, Chateau Palmer, Chateau Lynch Bages and some two dozen smaller properties revealing their 2011 prices.
Chateaux Margaux released at 40 per cent down on the previous year, which is one of the more substantial price cuts among the other producers. Palmer released it 3rd growth at 25.6 per cent down, but the quality of the wines from Palmers may warrant the slightly higher price tags, with Steven Spurrier of Decanter calling the 2011 ‘first growth quality’.
The high prices of the Palmer have dismayed many wine merchants, but Lafite, Margaux and Pontet Canet all seem to have priced themselves well into the market. But this interest has come across as muted on the previous years, with Mark Bedini, managing director of Fine & Rare commenting in Decanter that interest in wines such as Lynch Bages is muted at best.
He said the wine "seems reasonably priced and normally sells really well. Not this time."
Many expected that Bordeaux would struggle this year, but the optimism over wine quality at en primeur doesn’t seem to have fully permeated the market.
With new entrants doing the bulk of the buying, it seems like Bordeaux may have to take a long-term view to lulling the traditional buyers back.
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