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Paul Bowker from Wilkinson Vintners recommends some wines that are great investments
Although the words "credit crunch" were on the lips of anyone involved in finance, investment and property since the middle of 2007, they did not start creeping in to the rarefied world of the fine wine market (which has historically had little or no correlation with financial markets) until the day Lehman Bros so publicly failed, almost exactly a year later. The wine market, along with everything else temporarily went in to shock, and witnessed a short-term correction in prices.
Resilient as ever, however, demand has remained very strong and signs for the future of the wine market are very encouraging. However, with the price corrections which occurred, it can be argued that there has not been as good a time to stock up on wines, both for consumption and for investment, for some considerable time.
Wines currently well worth looking at include the following:
Chateau Pichon Lalande 1996
A stunning example from this consistently top-performing second-growth Pauillac estate (almost invariably cited as an "honorary First-Growth). It has been sensationally impressive ever since the first barrel tastings, and whilst it is currently in a slightly closed phase, it will be a joy to watch its development. It has a good 30 years ahead of it. At £1250 per case in bond, (£1269 + VAT delivered) it looks cheap when compared to First-Growths from the same vintage (consider Lafite at £6500 per case), and is more than capable of holding its own in the company of its near neighbour.
Chateau Leoville Barton 2000
From a vintage described by Robert Parker as "Eldorado", and one of the most consistently outstanding vintages in recent years, a sublime example from this Chateau which has been a perennial favourite of the English wine lover. Its English (Irish, actually) owner, Anthony Barton, quite apart from producing consistently excellent wines whatever the vintage conditions, has also earned plaudits for his (all too rare) modesty when pricing the en primeur release of his wines. A huge wine, the 2000 has hugely intense jammy cassis character from its predominant Cabernet, and has the massive tannins and extract to see it into a long and healthy old age. This is arguably one of the finest wines ever made at this venerable estate (no mean feat given its heritage), and also one of the wines of the vintage. A relative bargain at £880 per case in bond (£898 + VAT delivered).
Chateau Beausejour Duffau 2000
An estate which under-performed for years, at the expense of its "twin" estate, Beausejour-Becot, Chateau Beausejour-Duffau-Lagarosse, to give it its full mouth-twisting title, leapt to prominence with its truly exceptional 1990 vintage, awarded 100 points by Robert Parker. Subsequent vintages have slightly failed to live up to the anticipation caused by the 1990, but the 2000, awarded 92 points by Parker, shows promise that the estate might finally be living up to expectations. Showing the ripeness of fruit always associated with this vintage, it also displays significant tannin levels which will soften and develop as the wine gains a few years of maturity. Exceptional value at £375 per case in bond (£394 + VAT delivered).
Chateau Ducru Beaucaillou 2003
After an exceptionally unusual growing season, characterised by difficult climatic conditions saved by a short burst of a massively hot summer, this has always been a controversial vintage. What is certain, is that the top wines, and Ducru is amongst the very top, are outstanding. Always an over-achiever, Ducru (under the new steward-ship of Bruno Borie), performed miracles in 2003, and produced a sensational, 80% Cabernet wine which should really be put away for at least five years, and which will provide greatest benefit in anything up to 20 years from now. An undoubted future classic, and now good value at £800 per case in bond (£819 + VAT delivered).
Chateau Talbot 2005
2005, the latest contender for "Vintage of the Century" was, rather like 2000, incredibly consistent, in a way which meant that the most minor cru bourgeois could scarcely fail to produce an exceptional wine. In a vintage like this, it is often worth looking out for wines like the St-Julien, Chateau Talbot, which, rather like Leoville Barton, has long been a favourite of the English. The 2005 was a very strong performance from Talbot, and although the vintage characteristics (hugely ripe fruit, relatively low acidity and soft tannins) make the wines drinkable and approachable at an early age, no one should be under any mis-apprehension. These are wines which will give enormous pleasure for 20+ years, and will happily last for 50+. And at £350 per case in bond (£369 + VAT delivered), it can be drunk without the associated guilt of super-high cost.
Talking of which...
Chateau Lafite 2005
It is slightly frivoulous to include this wine, since it is outside the reach of all but the most committed and affluent consumer. But it is worth mentioning for two reasons. Firstly to answer the question which we are constantly asked : is it worth the cost? To which the answer is a resounding yes - the quality levels that the five Bordeaux First Growths has achieved is quite extraordinary, and any opportunity to taste these wines should be seized with open arms. Secondly, from an investment view it is undoubtedly worth looking at. At the time, as mentioned above, when the wine market got temporarily cold feet, in September 2008, Lafite 2005 was happily selling at £9900 per case. It is now readily available at £6700. Given the track record of other great vintages of Lafite, and the ongoing Chinese obsession with Lafite, this would seem to be a fairly clear opportunity to purchase a wine at the bottom of it's price curve.
Paul Bowker has been in the wine trade for 25 years. Having started his career in 1984 in the Wine Department of Christies, he ended up as a Director of Christies, and Head of the Wine Department until 1998, when he left to become a partner in Wilkinson Vintners Ltd. Wilkinson Vintners is one of the largest UK specialist Fine Wine merchants, selling top-end claret around the globe.
To order any of these wines, contact:
Wilkinson Vintners Ltd
38 Chagford Street, London, NW1 6EB
Tel: +44 (0)20 7616 0404
Fax: +44 (0)20 7616 0400
