Buying and selling Bordeaux is a business—a big business—that has been controlled for millennia by the courtiers (wine brokers), who provide financial backing in exchange for the rights to sell the finished wines. Largely responsible to this day for presales, or selling en primeur, this is a sort of “futures” offering for new vintages of the heralded wine.
Today, with increased interest and investment from Asia (primarily China), the price for current “classified” Bordeaux has climbed to astronomical levels: The 2009 vintage (scheduled for release in 2012) commanded the highest prices ever. Houses such as Château Mouton Rothschild and Château Lafite Rothschild feature Chinese artists and lucky numbers, respectively, on their labels for upcoming vintages—kowtowing that drives prices up even further. With demand outstripping supply and prices skyrocketing, buying Bordeaux these days can be frustrating. Still, keeping the following secrets in mind can help keep your costs down.
Secret No. 1: Buy older vintages. Because of massive price increases over the past decade, older Bordeaux is more affordable—plus, it’s ready to drink now. The ’89 and ’90 Lafites are $1,200 per bottle, compared to $1,600 for the ’09. Or take the lesser Chateau Ducru-Beaucaillou: The ’09 is $280, while the ’89 and ’90 average $170 per bottle—40 percent less for a wine that’s ready to enjoy.
Secret No. 2: Look for “second labels.” Just about every château in Bordeaux has a second wine that tends to be a combination of younger vines’ fruit and declassified fruit of the “grand vin” or first wine of the house. With higher-yielding vintages, these wines offer an immense value. Take Lafite’s second label, Carruades de Lafite: The ’89 goes for about $375, compared to $1,200 for the house’s first wine from that year.
Secret No. 3: Keep in mind that with any wine, especially Bordeaux, a quality producer generally presses good juice year in and year out, but vintages must still be considered: 1994 was a great year in California, for example, but not so in Bordeaux.
Secret No. 4: Bordeaux needs time for its massive tannins to subside and integrate. To reach its full potential, it takes at least five years of cellaring to create good Bordeaux and 10 to 20 years for great Bordeaux. So why spend money now for a wine that you won’t receive until late 2012, and shouldn’t really drink until 2020 or 2030? Life’s short—enjoy it now.
