Bordeaux 2011's success in question due to high prices

Published: 27 April, 2012

Unless prices come down, Bordeaux 2011's en primeur risks being a big flop, merchants have warned.

Experts agree that the higher than expected prices of Bordeaux 2011 are undermining the market's confidence - only Lafite has sold well given it is more affordable than older vintages.

Donna Steyn, of Liv-ex, told Harpers: "Very few of the releases have been successful so far. Prices have not been reduced as much as they should have been and this has undermined the market's confidence.

"As a result, the Liv-ex Fine Wine 50 Index has gone into reverse [it has fallen 1.59% since April 1]. Lafite has been the most successful 2011 release, largely because it is more affordable than other vintages of a similar quality level.

Stephen Browett, chairman of Farr Vintners, said: "Lafite has sold well because we've been able to offer it cheaper than any other vintage on the market.

"Nothing else has sold in any sort of volume because the prices have not been attractive enough.

"What's becoming clear is that nothing is going to sell in this vintage if it is priced higher than physically available vintages

The Wall Street Journal's Will Lyons tweeted: "Why bother with 2011 when the 2009 is £10 more. Little point."

The Secret Cellar tweeted that there had been "muted demand so far", adding that, "we all know where prices need to be".

Printer friendly version