Do you think drinking vintage port early will boost prices
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simon Lisle
- Posts: 286
- Joined: Sun Jul 31, 2005 11:05 am
- Location: Newcastle, United Kingdom - UK
Do you think drinking vintage port early will boost prices
I am unsure of this because I have no figures
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Tom Archer
- Posts: 2790
- Joined: Tue Aug 09, 2005 8:09 pm
- Location: Near Saffron Walden, England
I think it already has - which is partly the reason we have raw young 2003's offered at higher prices than wines that are fully mature.
But this trend (and it has not been that seismic) may have provoked a price overreaction, with the result that those who bought en primeur '97's and '00's are probably looking at a significant loss if they now sell.
In time, this adjustment to drinking habits will work it's way out of the system to the point that it has no influence on prices at all.
In time too, those who have bought as an investment will eventually sell, and there will probably be a period when we see significantly more investors selling than buying.
This is likely to occur during a period of economic downturn, which of course is a time when people tend to go easy on expensive wines.
So it's not unreasonable to anticipate that at some point we will see a great buying opportunity emerge.
However, what happens to the vintage port market will be nothing compared to the Bordeaux scene...
Tom
But this trend (and it has not been that seismic) may have provoked a price overreaction, with the result that those who bought en primeur '97's and '00's are probably looking at a significant loss if they now sell.
In time, this adjustment to drinking habits will work it's way out of the system to the point that it has no influence on prices at all.
In time too, those who have bought as an investment will eventually sell, and there will probably be a period when we see significantly more investors selling than buying.
This is likely to occur during a period of economic downturn, which of course is a time when people tend to go easy on expensive wines.
So it's not unreasonable to anticipate that at some point we will see a great buying opportunity emerge.
However, what happens to the vintage port market will be nothing compared to the Bordeaux scene...
Tom