The Market

offer of the day – Christophe Perrot-Minot 2016…

By billn on May 20, 2018 #the market

Relatively – the offers are coming in, thick and fast – that’s two this week! 🙂 Some more 2016s for you:

Morey Saint-Denis La Rue de Vergy 2016 75cl 94.50 (*Swiss Francs)
Gevrey-Chambertin 2016 75cl 94.50
Nuits St-Georges 1er ‘Les Murgers des Cras’ 2016 75cl 100.80
Chambolle-Musigny Vieilles Vignes 2016 75cl 109.80
Vosne-Romanée Vieilles Vignes 2016 75cl 109.80
Vosne-Romanée Les Champs Perdrix Vieilles Vignes 2016 75cl 128.70
Morey Saint-Denis 1er Cru La Riotte Vieilles Vignes 2016 75 cl 163.80
Vosne-Romanée 1er Cru Les Beaux Monts Vieilles Vignes 2016 75cl 193.50
Nuits Saint-Georges 1er Cru La Richemone “Ultra” Vieilles Vignes 2016 75cl 385.00
Chapelle-Chambertin Grand Cru Vieilles Vignes 2016 75CL 420.00
Charmes-Chambertin Grand Cru Vieilles Vignes 2016 75CL 420.00
Mazoyères-Chambertin Grand Cru Vieilles Vignes 2016 75CL 420.00
Chambertin Clos-de-Bèze Grand Cru Vieilles Vignes 2016 75cl 840.00
Chambertin Grand Cru Vieilles Vignes 2016 75cl 840.00

Now I never said that they were going to be cheap!

*These are delivered prices, but this email offer is discounted – whatever is sold from their catalogue is at a higher price!

offer of the day – Bouchard Père et Fils 2016…

By billn on May 16, 2018 #the market

It’s been a while since I had a BP&F offer – the 2012s – in fact I bought some magnums of the baby Jesus that year. Anyway, some 2016s for you:

Meursault Genevrières 2016 75cl 74.00 (*Swiss Francs)
Meursault Les Perrières 2016 75cl 79.00
Corton-Charlemagne 2016 75cl 149.00
Chevalier-Montrachet 2016 75cl 269.00
Montrachet 2016 75cl 528.00

Volnay Caillerets Ancienne cuvée Carnot 2016 75 cl 68.00
Beaune Grèves Vigne de l’Enfant Jésus 2016 75cl 88.00
Chambertin 2016 75cl 248.00

*As usual, these prices lack 8% Swiss purchase tax, but are otherwise delivered prices.

drc corton-charlemagne… ‘what has gone so wrong, so fast?’

By billn on May 16, 2018 #the market

The quality of the vineyard work and resulting wines of the new team of DRC are assured, as are the open arms of DRC customers wishing to buy these wines, so, initially, I only have a couple of thoughts on this news:

  1. Price. Well, it didn’t take people long did it? In the first minute that the news was posted on the interweb, all the talk was about how the price of Corton-Charlemagne was going to massively increase. But why? There are over 70 hectares of Corton-Charlemagne – 3 hectares is peanuts. The same was said about Corton after the DRC + Florent de Merode agreement, and it never happened. Of-course the DRC Corton is expensive (even from first tier DRC distributors) but a) it remains cheap versus Leroy’s Corton, and b) the wider market pricing for Corton is, seemingly, unaffected since the first DRC wine in 2009. So I don’t see it happening. Of-course Corton-Charlemagne is more sought-after than its red brother and DRC’s Corton-Charlemagne will certainly be expensive, 3-4 times more expensive than Bonneau de Martray were asking, but I’m not expecting the wider market to be significantly affected.
  2. Why? My main thought is ‘What has gone so wrong, so fast?‘ Why can’t (new) Bonneau du Martray sell their own wine? Is this a marketing strategy that just hasn’t worked out – or quite the reverse – the pragmatic result of their review of strategic options? They historically held a lot of wine back, so are, anyway, not used to (attempting) full commercialisation of each vintage – but given a lot of oxidation problems, the stock that they hold has to have questionable value. Of-course this announcement is intriguing but, honestly, it’s a bit of a stain on the history of Bonneau du Martray. That renting out their vines to DRC is financially more attractive, is hardly surprising news, but to actually choose to follow such a business strategy is shocking…

offer of the day – clos de tart

By billn on April 30, 2018 #the market

I never did see an offer for the 2015, but the 2016 is in today:

Clos de Tart Grand Cru 2016 75cl 448.00* Swiss francs
Clos de Tart Grand Cru 2016 150cl 926.00
Clos de Tart Grand Cru 2016 300cl 2,042.00

And for your reference – the previous offer from the same retailer in 2017:

La Forge de Tart 1er Cru 2007 75cl 148.00
La Forge de Tart 1er Cru 2008 75cl 119.00
La Forge de Tart 1er Cru 2011 75cl 135.00
La Forge de Tart 1er Cru 2014 75cl 169.00

Clos de Tart Grand Cru 2006 75cl 299.50
Clos de Tart Grand Cru 2011 75cl 279.00
Clos de Tart Grand Cru 2013 75cl 324.00
Clos de Tart Grand Cru 2013 150cl 678.00
Clos de Tart Grand Cru 2014 75cl 324.00
Clos de Tart Grand Cru 2014 150cl 678.00
*Prices are ‘delivered’ but subject to 8% Swiss purchase tax.

Practically plus 50% in 2 vintages! That said, they will probably need more than that if the estate was really sold for (about) 300 million!

henri jayer – the last hurrah?

By billn on April 16, 2018 #events#other sites#the market

Auction catalogue screenshot 12 April 2018

On June 17 2018, there will be an auction of burgundy wines that has very little (recent) equal. It will take place in Geneva under the auspices of Baghera Wines.

Whilst incredulous of a number of lots in this auction house’s first couple of auctions – how could they possibly be legitimate? – the catalogues were certainly sumptuous, fabulous things – keepsakes. The auction in June has, however, a provenance that seems irrefutable:

“855 bottles and 209 magnums! That’s how many bottles there were in Domaine Henri Jayer’s cellar. A handful of people knew of the treasures that were lying dormant at the Domaine, even though many bottles had been opened and shared these past few years. The anecdote about one last Richebourg 1959 opened by the family last Christmas shows how much Henri Jayer’s descendants enjoy tasting their father and grandfather’s wine.”
Baghera Wines

Whilst I like Burgundy Report to be inclusive, indeed egalitarian, sometimes you cannot escape from the rarest of the rare – and today that’s unquestionably Henri Jayer. Domaines Romanée-Conti and Leroy command similar prices, but their supplies are replenished with a new vintage each year – but for the wines of Henri Jayer that’s not the case – and it’s no joke that more wines bearing his label have already been drunk, than he ever produced – and yet ever-more come to the market.

Henri, born in 1922, died in 2006. I never met him, though I have (allegedly) had his wine in my glass twice – once it was an awful, bretty abomination and probably not genuine, the other time it hinted at the sublime and was maybe genuine – both were villages wines of the 1980s, drunk in the early 2000s.

Jayer was the vigneron(ne)s’ vigneron, working his vines for upwards of 60 years and his influence on the region is as strong as that from today’s benchmarks like the aforementioned Domaine de la Romanée-Conti and Domaine Leroy – but he took a different path – decrying the use of whole clusters, choosing to destem all his grapes. Even when faced with great wines made with their stems, he remained resolute in his conviction. His wines remain highly sought-after, the problem is that his labels are also the most falsified and fabricated that you could imagine.

History is sometimes told with rose-tinted spectacles; it is said that Jayer was one of the first to reject fertilisers and reduce yields, but he began cultivation in the war years – there were no chemicals available so yields were inevitably low, though it’s true that, later, he never resorted to chemistry even when could – he used only his hands and his horse for his hard labour. And much hard labour was indeed required for his most famous of crus – Vosne-Romanée 1er Cros Parentoux – so small at 1.01 hectares that it is completely ignored in René Engel’s book Vosne-Romanée despite its position on the border of Richebourg and Petits Monts. When Jayer began his work, the whole of this unplanted plot was owned by Madame Noirot-Camuzet. Rented by Jayer, planting, dynamiting and even growing vegetables in the plot, he became not just the largest owner, after the family sold him 0.72 hectares in 1957, he continued to farm the vines retained by the Camuzet family. So Cros Parentoux, for so long bottled only as a villages wine, became for a time his monopole – though it was only in in 1978, that Jayer marketed Cros Parentoux for the first time under his own label.

In 1995, having officially retired, Jayer passed the management of 0.43 hectares of Cros to his nephew, Emmanuel Rouget, but he retained the balance of these vines as he ‘hobby vinified’ until the end of 2001 – from 2002 all of his vines were entrusted to Rouget.

The ‘Cros’ is by a long way the most populous wine in this sale and whilst, at first, it’s amazing that so many bottles remained at the domaine, given my recent experience of moving 800 bottles of my own wine, such a number can fit in a relatively small space, indeed could almost be lost in a, once, functioning cuverie. Once more the catalogue is a wonderful thing and full of detail – where else will you learn and see pictures of Jayer with his trusty horse Pilote and read the commentaries of Aubert de Villaine and Emmanuel Rouget?

We might not be able to afford such bottles, but we can always learn from them

[EDIT]: Here’s the PressRelease-Bagherawines-ENG-20180417

beaujolais exports grow

By billn on March 27, 2018 #the market

For the second year in a row, exports of Beaujolais have grown.

Figures compiled by Business France from French customs data show an increase of 5.7% in volume and 7.8% in value for the year 2017 versus the same in 2016. 40% of the production of Beaujolais is now exported.

Europe accounts for 35% of all exports by volume and 29% by value, growing in 2017 by 11% in volume and 14% in value versus 2016.

The five largest export markets today are, in order: the United States, Japan, the United Kingdom followed by Canada then China + Hong Kong (together) – this is the first year that China/Hong Kong have entered the top 5, having overtaken Belgium to do so. Of these markets, only Japan showed a reduction in sales – but it was an important 7% reduction in the second largest market outside of France, it is because of this reduction that the United States now have pole position.

a new record for the hospices de nuits

By billn on March 12, 2018 #the market

The auction of the Hospices de Nuits:

To quote Le Bien Public – or at least to translate them:

“The sale is over! The record set last year with 1.157 million euros was pulverised. The new record stands at 1.750M €. This record was expected since the number of barrels was much higher than in 2017 (143 vs 90.5)”

It’s worth noting that if the average price per barrel had been the same as last year, then the total would have been higher – €1.83 million. But it’s still a very good result for the charity!

offer of the day – william fevre 2016

By billn on February 17, 2018 #the market

Hot from my inbox from a Swiss importer. The prices of the 2015s are in brackets for you to compare:

CHABLIS Village 75cl 22.00 (19.00) Swiss Francs*
CHABLIS Montée de Tonnerre 75cl 45.00 (42.00)
CHABLIS Preuses 75cl 75.00 (65.00)
CHABLIS Bougros Côtes de Bouquerots 75cl 79.00 (65.00)
CHABLIS Les Clos 75cl 89.00 (75.00)

Quite large jumps versus last year, but Les Clos was one of the best wines of my whole tour of 60 domaines in January…
*The prices are ‘delivered’ but will attract another 8% Swiss tax

offer of the day – robert groffier 2016

By billn on February 02, 2018 #the market

The prices for the 2015s, offered last year, are included for reference, in the brackets:

Domaine Robert Groffier

Bourgogne Pinot Noir 2016 75cl 39.50 (38.00) (Swiss Francs*)
Gevrey-Chambertin Les Seuvrées 2016 75cl 89.00 (79.00)
Chambolle-Musigny 1er Cru Les Hauts Doix 2016 75cl 159.00 (146.00)
Chambolle-Musigny 1er Cru Les Sentiers 2016 75cl 179.00 (158.00)
Chambolle-Musigny 1er Cru Les Amoureuses 2016 75cl 399.00 (349.00)
Bonnes-Mares Grand Cru 2015 75cl 399.00 (349.00)
Chambertin Clos de Bèze Grand Cru 2016 75cl not offered (378.00)

First of all, I realise that yields in Chambolle were very low due to the frost, but these remain in my (old fuddy-duddy) mind, fantasy pricing. Yet I realise that whilst that is the common reaction for people who have been buying burgundy for 20+ years, for the new generation of buyers, they are the only prices that they know, and as one producer told me this year – ‘The higher I raise my prices, the more is the demand!

*There is an additional 8% Swiss sales tax to add to these prices, but there are no additional delivery costs.

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