The Market

“if you must have Jayer – any Jayer for your own cellar – this was a one-off. In the modern world this was as good as it gets” – part 2!

By billn on May 07, 2021 #the market

Those were my words 3 years ago – Of course, you didn’t think it would end like that, did you?

Hey presto! Here comes part 2!

Baghera - Jayer 2
Image from Baghera…

It is Baghera, once more, championing perfect provenance bottles from Henri Jayer – or more correctly – the eldest daughter of Henri, Lydie.

Or are they perfect provenance?

The source is, of course, paramount but so are the storage conditions. Jayer’s old lock-up was hardly the creme de la creme of storage facilities and for the last 3 years since they were relabelled for the previous Baghera-Jayer sale, how were these wines kept? There are no answers to be found here and for sure I don’t expect such considerations to dissuade the bidders…

You may peruse the lots, if you wish, here.

offer of the day – clos de tart 2019

By billn on May 06, 2021 #the market


Today in my inbox; here are the Clos de Tart 2019s and you can compare these prices to those of the 2018, 2017 & 2016 prices which are in the brackets. — indicates ‘not offered.’ It now looks like the new owners are looking for some payback on their investment…

Clos de Tart Grand Cru 2019 75cl 595.00, (498.00, 498.00, 448.00)* Swiss francs
Clos de Tart Grand Cru 2019 150cl — (1,050.00, 1,026.00, 926.00)
Clos de Tart Grand Cru 2019 300cl 2,630 (2,300.00, 2,042, 2,042.00)
La Forge de Tart 1er Cru 2019 75cl — (189.00, 169.00, 188.00)

* Including delivery, but not including Swiss purchase tax of 7.7%

offer of the day – william fevre 2019

By billn on April 23, 2021 #the market

From my usual Swiss importer source. The prices of the 2018s, 2017s, 2016s and 2015s from previous years are in brackets for you to compare (— means not offered).

CHABLIS Village 75cl — (22.00, 22.00, 22.00, 19.00) Swiss Francs*
CHABLIS Vaillons 75cl 39.50 (—)
CHABLIS Montée de Tonnerre 75cl 49.50 (48.00, 48.00, 45.00, 42.00)
CHABLIS Preuses 75cl 79.50 (78.00, 78.00, 75.00, 65.00)
CHABLIS Preuses 150cl — (161.00, —)
CHABLIS Bougros Côtes de Bouquerots 75cl 84.00 (79.00, 79.50, 79.00, 65.00)
CHABLIS Les Clos 75cl 98.00 (94.00, 89.00, 89.00, 75.00)
CHABLIS Les Clos 150cl 211.00 (193.00, —)

Probably the ‘advantageous’ yields of 2018 offset any price increases in 2018, not so in 2019 – many great wines here though, and for the last couple of vintages I’ve found the Preuses a better wine – if only marginally – that the Côtes de Bouquerots. A shame that they are not offering the villages in 2019, that said, I seem to have bought enough other wines in Chablis this year!
*The prices are ‘delivered’ but will attract another 7.7% Swiss purchase tax.

offer of the day – Angerville 2019

By billn on April 20, 2021 #the market

The prices from my usual merchant in Switzerland:

Domaine Marquis d’Angerville (in brackets the prices of the 2018s then the 2016s – I never saw 2017s…)
Volnay 1er Cru 2019 75cl 79.00 (75.00, —)* (Swiss Francs)
Volnay Fremiet 1er Cru 2019 75cl 105.00 (105.00, 105.00)
Volnay Champans 1er Cru 2019 75cl 129.00 (129.00, 129.00)
Volnay Clos des Ducs 1er Cru 2019 75cl 215.00 (198.00, —)

The 2019s available for delivery only at the end of this year. The price you see is ‘delivered’ but ex 7.7% Swiss purchase tax. What can I say – always aspirational rather than entry-level wines here – and you will have to pay for that. I’m never surprised when the pricing of a top cuvée increases – the others, despite higher pricing, show a remarkable consistency for the region in the last years.

Competition in Morey St.Denis – offer of the day – clos des lambrays 2019

By billn on March 24, 2021 #the market

AOC Clos des Lambrays

There’s been a long, slow ‘progression‘ in the pricing of Clos des Lambrays. It’s fair to say that the 1990-2010 wines were always thought of well but as a cheaper entry to the world of grand crus, with pricing that befitted their more elegant, more modest, intensity versus other grand crus. It’s unlikely that new generations of drinkers will think of Lambrays in those terms – at least not in terms of pricing – with last week’s newly released pricing of their 2019s!

I lead with the pricing announced in the UK rather than my local Swiss supplier as that latter merchant usually has the pricing only in April – see the link above. Subscribers who have read my reports of Lambrays and Tart will know that I rate the wines highly but that they remain different ‘beasts.’ I’m left wondering, however, if their respective billionaire owners see only the need for equivalence. Both are investing heavily in their charges – seemingly the work at Lambrays with their massive crane and road closure to construct an entirely new cuverie is the more expensive ‘investment.’

Maybe that goes some of the way to explaining a UK price of £1,080 a case, in bond, for the 2019 vintage – per case of three bottles! So add 20% purchase tax to calculate the actual bottle price. It would be unfair of me not to point out a yield of only 15 hl/ha in the Clos in 2019 – half the normal amount – partly attributable to their first year of conversion to organic viticulture*. Still, I’ll leave that to sink in if you were a previous buyer of Lambrays…

It seems that in one swoop the owners of Lambrays want price equivalence (well, nearly) with Clos de Tart, a wine that has been more than double the price of Lambrays for several years now. I have to assume that they have a different (new!) buyer demographic in mind.

Almost the value play of the Clos des Lambrays cellar in 2019 is their Puligny-Montrachet 1er Clos des Caillerets – a mere £798 per 6 in bond – and a different colour, but hey!
*Thierry Bruin was more concerned with producing enough wine than, for instance, organic viticulture. In this respect, Lambrays is a late-comer but Jacques Devauges has a great track record in this area…

Sotheby’s, New partner of the Hospices de Beaune

By billn on March 18, 2021 #the market

The announcement from this afternoon:

18 March 2021 – The Hospices Civils de Beaune has confirmed the appointment of Sotheby’s as the new host of its celebrated and historic annual barrel auction – the 161st Edition will be held at the Halles de Beaune on November 21st, the third Sunday in November, as per tradition.

François Poher, Head of the Hospices Civils de Beaune, said: “After a tender procedure launched in mid-December, we have chosen Sotheby’s proposal. For the next five years, we will work together to deepen knowledge of our domaine, its wines and our sale for the benefit of all of Burgundy. We will also work to preserve the centuries-old character and heritage of our hospital institution and further strengthen its capacity to invest in the service of the people of our region.”

Mario Tavella, President of Sotheby’s France and Chairman of Sotheby’s Europe, said: “Sotheby’s is proud to work alongside the Hospices de Beaune as organiser of its charity auction and also to promote the cultural initiatives that punctuate the year of this honourable institution. This year will mark the launch of Sotheby’s wine sales in France and we are honoured by the trust placed in us by the Hospices de Beaune and look forward to beginning our work with their team this week.”

Now that’s proper news!

I did hear that Christies were quite pissed that the November auction had been covid-cancelled – they were ready to go ahead 100% online – as many auctions have been done in the last 12 months. Whether this is the result of that disagreement or simply that it was time for a change is unimportant, it’s the way forward right now. I’ll be interested to see what changes…

La Romanée – how about a ’62? – it’s just a question of which century…

By billn on February 25, 2021 #events#the market

la romanee memories
Images from Baghera

Remember this? Well, the catalogue is now available – you can bid online, or just electronically thumb the pdf…

baghera-la-romanee-1862We can quibble about pricing – and who’s to say the catalogue doesn’t underestimate the hammer prices? Particularly when you consider a sought after vintage of the wine from today’s maker – Louis-Michel Liger-Belair will easily approach US$10,000 for a single bottle. With that in mind the prices, considering both age and provenance, are damn-near respectable.

I considered maybe a birth-year wine? but I forgot that Bouchard didn’t have the contract in the 1960s – I’ve seen 1962 La Romanée from Camille Giroud though! So what about adding a century? Okay I know what hair I have is greying, but it’s not that grey!

offer of the day – 2019 l’Arlot

By billn on February 11, 2021 #the market

In my inbox – I offer the comparison with the previous prices (in brackets) of the 20018s, 2017s, 2016s, and 2015…
— signifies ‘not offered’

Domaine de l’Arlot

Nuits-Saint-Georges Mont des Oiseaux 1er Cru 2019 75cl — (69.50, 59.00, —, 59.00)* Swiss Francs
Nuits-Saint-Georges 1er Cru ‘Hors Ligne’ 2019 75cl — (—, 79.00, —, —)
Nuits-Saint-Georges Clos de l’Arlot 1er Cru 2019 75cl 89.50 (88.00, 85.00 85.00, 79.00)
Nuits-Saint-Georges Clos Forêts St-Georges 1er Cru 2019 75cl 89.50 (88.00, 85.00 85.00, 79.00)
Nuits-Saint-Georges Clos Forêts St-Georges 1er Cru 2019 150cl 184.00, (181.00, 175.00, 175.00, —)
Vosne-Romanée Les Suchots 1er Cru 2019 75cl 135.00 (129.00, 119.00, 119.00, 109.00)
Vosne-Romanée Les Suchots 1er Cru 2019 150cl — (263.00, —, —, —)
Romanée Saint Vivant Grand Cru 2019 75cl 498.00 (—, —, 486.00, 445.00)

A more compact offering of the domaine’s wines this year.
*Note that an additional 7.7% sales tax is also due, but the delivery cost is included…

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