FUTURES 2005

The buying of Futures, is pretty much limited to Bordeaux. It can be a very good deal, but remember the old adage, Ceveat Emptor. The last few years have seen one of the biggest sources in America, compress their buying, and what they offer. When I was in Importing we represented this House and had huge allocations of Haut Brion, Lafite, Petrus and most of the Names in Bordeaux. The last vintage they really had depth was the 2005, and that was much reduced from previous campaigns. The 2006 were offered at higher prices because the dollar was weaker, and like the housing market, the big Negociants thought prices would hold. Like many I advised customers to go heavy on 2005s but pass on the 2006. I stand by that advice, prices on 2006 are in flux, and there is a lot of wine in Bordeaux. If you can find good deals on 2001 or 2004, buy them for current drinking. Many merchants are offering the 2005 at prices that reflect their original cost. If it is a property you collect, and a fair price, buy in. I predict that Fall 2009 will have some truly collectible deals.

The other important thing to look for is Integrity; does your Wine Merchant have a track record? Experience and integrity are important, and have a relationship with your Merchant. From experience, I try and know customers preferences, and keep that in my mind when I buy. Many times we get offered special lots from suppliers, but it will be a limited amount of cases. A phone call or two and its gone. So its important to make your interests known. My other tip, is trust your palate, buy what you like. We just sold out a 2002 Grand Cru Bordeaux, from a property I have had very seldom. It turned out to be drinking very well and at $9.99 we could have sold so much more than the 3 cases we purchased. I bought it because it was a good value, it turned out to be a great value. Now, I must find new Super Values for customers. Its a changing process, every day.