Author: Dirk Chan
The Bordelais has decided to proceed with the 2019 Futures program as per usual despite COVID not allowing anyone to go to Bordeaux to taste as is the norm. The 2019 vintage is definitely excellent, some comparing it to 1982, others calling it a combination of 2009 fruit and 2016 structure. With very little critic’s scores to go by, the primary selling feature of this campaign is that at the high end, prices are 30% less, with lesser cuts for the mid-tier – this kind of deep cuts are unheard of in Bordeaux Futures, but with the Trump 25% surtax incoming into the States, a volatile economy, high job loss and wild dollar fluctuations, they are afraid without deep cuts the campaign will be a bust.
Alas, this kind of pricing provides a rare opportunity to buy some higher Classified Growths that has previously been out of reach. Of course, there isn’t enough to go around as every retailer wants some leading to some frenzy buying and quick sellouts and staying up all night waiting for offers.
If you’ve purchased Futures before, you know prices never go down, they always go up in the next great vintage, so the nice price is wonderful for those who are starting to build a cellar. Plus, you gotta think in two years time when the wines are bottled and shipped, the price will be much higher then than it is selling for now as estates will want to recoup any losses.
Given the economic uncertainty, selection will be reduced from previous ‘normal’ years. So instead of 70 selections, we’ll have 50 and quantities will also be much smaller and strictly on a first-come first served basis and in some cases maximums applied. In many cases we won’t be able to go back for more of something once it sells out and if we do, price will be second tranche.
Alas, we’re already in the home stretch of this campaign. So, for those hedging it is now to dive right in and purchase. Some products have already sold out.
There are great wines in all regions as per usual but I’m seeing some great wines from Cru Bourgeois to Satellites that will retail around $50 – these are great earlier drinkers, a smattering of 1855 5th Growths around $75 (which we rarely see) and even some top bottlings under $100, so there is wines to consider at all levels. For the first time in 4 years, there’ll be some sweet dessert Sauternes offered as well.
Bottom line, if you’ve been hesitant to get into the Bordeaux Futures game, jump in now, there may be never be another great opportunity as this, we won’t likely ever see this kind of pricing again so don’t dilly dally or you’ll miss out. If we can help you decide, drop us a line.
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