Wednesday, April 1, 2009

Mr. Prats = NUTZ!!!!

This is my response to Decanter.com's online article reporting Chateau Cos 'Estournel owner's insane comment on Bordeaux 2008 en primeur pricing.

What in God's holy name is he blathering about? Mr. Prats has finally lost it and has ensured that I will buy none of his wine - whatever its release price. He says that first growths substantially lowering their price "'would seriously anger their other clients' by implying they had been paying over the odds since 2005." Is this man a fool? Is he blind? Both? These clients (although in 2007 at least, these "clients" are rather scarce) HAVE been paying over the odds since 2005! They know it; I know it; the editors, contributors and readers of Decanter magazine know it. I would venture to guess that even Mr. Prats knows this startlingly obvious fact; admitting it is obviously the problem here. He is correct, however, in saying that if the first growths released at €100, a lot of new purchasers would emerge (of which I am one).

I was particularly moved by Mr. Prats' heartfelt concern for the negociants and merchants who may be left holding stock of the 2007s. It's amusing (or more appropriately, a little sad) that chateau owners weren't thinking about the welfare of these concerns over the last two years. The simple and undeniable fact is that any merchant or negociant holding stocks of 2007 wines (and probably 2006 as well) WILL lose money on these vintages; it is simply a question of when, because the only way anyone will ever buy them is if they are VERY heavily discounted (ie bargain-binned). I would imagine that for cash flow reasons some of these outfits would be wise to start this process now - they'll never get what they paid for them anyway and so just cut their losses and move on. I'm sure they'll be very appreciative, however (as I am), that Mr. Prats has the negotiants', merchants' and customers' best interest at heart when he suggests that prices remain inflated and out of touch with reality.

I now understand why so many people who have been in the wine game for a lot longer than me have long ago given up on Bordeaux, and it now seems (if Mr. Prats' comments hold weight) that their betrayal of a new generation of customers is warming up on the sidelines.

That 2007 Domaine de la Mordoree is looking really tempting right about now.