Not Banking on Bordeaux!
I've been looking around for alternative investments recently and have just ruled out buying some vintage Bordeaux.
The prices for the latest 2023 en primeur vintage are astronomical
Starting at £140 a bottle...
And going up to over £2000 a bottle.
And for the 2023 year, the vintage won't be delivered until two to three years down the line, so this is effectively a futures market.
Stiff competition
And since 2017 the pricing of every primeur 'vintage' bar 2019 has gone up, meaning it's much more difficult to turn a profit on these wine-futures purchases.
This is because we've just had some VERY good years over the last decade, maybe an upside of global warming, who knows...?!?
2022 was an exceptional year apparently, I mean I don't know, my pallet thankfully can't tell, but I guess for those who do know, there's A LOT of very nice wine out there, meaning those 2023 prices are looking steep.
And Bordeaux wine sales are down, UK retailers sold 38% less of it last year compared to 2016.
Stiffer competition...
And let's face it, these are luxury and/ or status items. These prices are not coming from everyday drinking, these wines are for the cellar and special occasions, and the problem is with so many good vintages recently, buying a REASONABLE vintage in 2023 is a punt when there's every chance there might be a better one in a few years time.
And then there's all the OTHER wine producing regions the world over, I mean at some point pure taste beats the Bordeaux name in wine circles, after all!
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38%, that's a very reasonable decrease for someone who want to buy Bordeaux, but for me, I think the wine is so costly, that money it's sold at, can buy a lot of others wine.
These prices are way too much!
In my country, anything can be bought rather than staying in cash due to the inflation.
That might make sense!
Really looking at wine/whiskey investments at the moment but i would be too tempted to open a bottle!