Bordeaux 2009 - Parker in ANTEPRIMA!!!

Springtime in Bordeaux

Well, you know if spring has arrived, then it must be nearly time for the entire wine world to focus on the newest vintage of Bordeaux. The Bordeaux wine hype machine is the best there is, and they are skilled at creating an amazing amount of worldwide interest in their spring wine tastings. Bordeaux wines are among the very finest in the world, and not only appreciate in value from the best vintages, but are also remarkably long-lived, even in lighter, so-so qualitative vintages. I just came back from nearly two weeks in Bordeaux, and now, as I am writing this, there are over 400 journalists and wine traders there, being wined and dined by the châteaux (something I assiduously avoid). They are showcasing the newest vintage, 2009, which many Bordelais have already pronounced the greatest vintage ever, and of course, only the third "vintage of the century" in the last ten years, if we start with 2000.

Wine drinkers, rather than speculators, need to have a coherent strategy to deal with all of this. I think it is important to reiterate that when I go to Bordeaux, I have no meals at any châteaux, I accept no hospitality, and I try to taste as many of the wines as I can, three to five different times over the course of a nearly two-week stay. I don't issue tasting notes from the hip, but rather assemble all of them I have on each château, then put together a thoughtful and well-reasoned synopsis of what I think each estate and appellation has accomplished. I will have my full report coming out at the end of April, but here are a couple of preview comments for wine drinkers.

1. 2009 is an incredibly exciting vintage of opulence, power, and richness, yet the better wines have a precision and delicacy that is unprecedented. There will be worldwide demand - that is assured. Many people have said, "Well, the Asians don't buy Bordeaux wine futures," but of course, the Americans didn't either 30 years ago, and when I was in Bordeaux recently, the place was overrun by Asian wine buyers giving out lists of preferred wines to all the leading négociants. In short, they are going to buy in 2009. In fact, they already started buying in 2008, so we have a new factor, and a major one at that. The questions that will be answered in May and June are (1) Will the Asians buy more than the first growths? and (2) How much wine in total will they purchase? Luckily, the American dollar has increased rather dramatically in value against the euro, and if that continues, we could have the scenario that unfolded both in 1991, when Americans could purchase 1990s with a strong dollar, and in 1983, when Americans first jumped big-time into buying Bordeaux wine futures to buy the 1982s with a strong dollar.

However, finding value in 2009 will be the challenge. Forget the first growths or the super seconds. The prices for these wines, I fear, are going to return to the 2005 levels, which were absurd. But this is the new reality. Like Lamborginis, Porsches, haute couture houses such as Chanel, or top-level watch companies like Berguet, International Watch Company, or Roger Dubuis, today's top 24 Bordeaux châteaux are exquisite brands of status and prestige. That, unfortunately, is not going to change, even with a global economy struggling to rebound. There is just not much of these wines made. The 15,000-20,000 case production may sound like a lot of wine for one market or two, but spread it around the world to every civilized city, luxury restaurant, and hotel, and the supply quickly evaporates. However, there are hundreds of Bordeaux châteaux today releasing beautiful wines, and this was not the case 20 or 30 years ago. These are the value wines, and although many include some of the lesser known classified growths, the others emerge from backwater appellations lacking the prestige to fetch high prices. This is where wine drinkers should be focusing their energy.

2. The vintage that was underpriced by the Bordelais, after foolishly overpricing the far inferior vintage of 2007, are the 2008s. This is a classic vintage, with some very strong wines, particularly from the top properties in the Médoc and on the Right Bank of Pomerol and St.-Emilion. There actually may be some Pomerols and St.Emilions that eclipse what those châteaux did in 2009. This is still a reasonably priced vintage, but the problem is that it is a very tiny crop, much smaller than either 2009 or 2007 (which, of course, accounts for the impressive concentration the best wines have), but they still represent a bargain. And given what will be the enormous hype machine buttressing the 2009 campaign, 2008 is a vintage that smart money will seek out.

3. With respect to 2007, which was overpriced by the Bordelais, this is a vintage that has a number of very good wines, but unless they are discounted or dumped by the trade, I don't anticipate significant consumer interest. 2007 benefitted from an Indian summer that saved the vintage from disaster, and many of the wines are front-end loaded and fruity. The best wines, which will be reported on in the April issue as well, are delicious and can be drunk now or over the next 10-15 years. But unless they come down in price, they are too expensive for what they are. However, it's a great vintage for the dry white wines of Bordeaux (as is 2009), and a fabulous vintage for the sweet wines of Bordeaux, which don't really have a large market, but are beautiful wines.