LIV-EX - MARKET UPDATE BORDEAUX 2015
We are entering the final stretch of Bordeaux 2015. There are about 20 wines (of considerable stature) still to come - half from the Left Bank (including the Firsts) and half from the Right Bank. It has been a somewhat unusual campaign. Despite a distinctly lukewarm reception early on, the longer the campaign has run, the higher the price rises on 2014 have been. For some chateaux, this rather counterintuitive strategy has worked extremely well, for most, it has not. Perhaps this reflects the general inconsistency of the vintage expressed in the Member's Survey in April. Canon raised its price by 55% and sold through while Pichon Baron raised its by 45% and now sits heavy on the market.
What is certainly clear is that the international merchant community dramatically underestimated the price rises that the chateaux had in mind. Little wonder then that they have found it difficult to wholeheartedly recommend the vintage to their en primeur weary customers.
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