Thursday, May 1, 2008

Transparency

Below, I posted the list of release dates En primeur of Château Valandraud as well as the number of bottles produced and the release prices for Bordeaux wine merchants.

Vintage -Release price - Quantity produced - Release dates
1991 - 13,72 € - 1 500 bottles - on 5.08.1992
1992 - 19,81 € - 4 500 bottles - on 16.07.1993
1993 - 24,39 € - 4 500 bottles - on 02.05.1994
1994 - 27,44 € - 9 600 bottles - on 16.05.1995
1995 - 36,58 € - 12 000 bottles - on 20.03.1996
1996 - 73,17 € - 7 200 bottles - on 03.03.1997
1997 - 91,46 € - 4 800 bottles - on 06.04.1998
1998 - 73,17 € - 12 000 bottles - on 20.01.1999
1999 - 121,95 € - 15 000 bottles - on 13.06.2000
2000 - 125,00 € - 15 000 bottles - on 09.04.2001
2001 - 100,00 € - 12 000 bottles - on 22.05.2002
2002 - 85,00 € - 12 000 bottles - on 07.05.2003
2003 - 140,00 € - 12 600 bottles - on 13.06.2004
2004 - 75,00 € - 20 000 bottles - on 01.04.2005
2005 - 165,00 € - 15 000 bottles - on 21.06.2006

1/ Important information : The wine was often released way before the notes of Parker or the Revue du Vin de France were out, and even regularly before Bordeaux 1st growths were released.
I am not particularly a follower, even if growing older and getting more experience, I am a bit more “prudent”.

2/ Useful information : volumes are voluntarily reduced to get the best quality while still get maximum quantity.

3/ Release prices were often higher that 1855 1st growths up to, and including, the 2003 vintage. Since then, without any high notes from Parker, released prices had to be adjusted as well as market prices.

4/ Speculation was important as early as the 1992 vintage until 1998, since then, no more speculation. This is mainly due to the lack of high notes from Parker and that the fact that Valandraud is not bought by speculative funds.

5/ Is it bad for the growth of the 1st wine called “Garage”? I have to admit that I owe part of the notoriety of Valandraud to the quality of the wine, and that the most of it from the important speculation at the beginning. At some point, Valandraud fetched even more than Petrus, Le Pin, Romané Conti and, of course, 1st growths.

6 / Today, nobody buys Valandraud for speculative purpose. Therefore, the wine can basically only be sold by Bordeaux wine merchants, who represent 70% of my customers, and then can finally be drank, which is actually going quite well.

7 / Can this change ? It doesn’t seems so. Brands have to be stronger and stronger and there isn’t space for everyone in the ultra luxurious niche. My colleagues became very effective and the selection process now achieved by first growths lead to a reduction of often half of the production for 1st wine compared to the 90s and this has increased pressure on the ratio offer/demand.

8/ Can the miracle of our story happen again? For us or another wine? Of course it can. No positions are established, whether conservatives like it or not.
Nature hates a void, and it is good that way.

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