2007 Quinta da Romaneira VP on sale for 6 hours

[David Spriggs]

The 2007 Quinta da Romaneira Vintage Port is on sale for 6 hours for $19.96 per bottle. That's a 750 ml bottle, not a half bottle. You must buy at leat 12 bottles to get that price. Hurry now if you want it. The offer ends today (Aug. 10th) at 6pm EDT.

https://winelibrary.com/specials/16181-romaneiraport6hr

[Roy Hersh]

Thanks David,

How can one resist an offer like this? 50 cases left on hand.

Roy

[Andy Velebil]

Wow a great price.

[Glenn E.]

Good grief... where am I going to put it???

In for a case anyway... At that price it'd be insane to pass it up - that's less than some Ruby Reserves here in WA!

[Brian C.]

I can't believe I missed this. Now I feel dumb for paying $30 for three of these awhile back. Noval Black is usually about $18. Crazy.

So what does this say about the overall market of port? Are there going to be more punts like this one? Between this and the Gould Campbell offers, I have to wonder what's going on. Is part of this downward pressure on price due to the economic situation in Europe, where much of the allocation goes? There's a cheaper Euro now, also.

I have seen some real weakness in SQVPs lately. I can locate 2005 Vargellas and 2005 Quinta da Rueda for $30 around Chicago, but I do have to drive a bit to get it. There just seem to be a lot more deals nowadays, but the $20 per bottle deal today was a new level.

I feel like all I have to do is outwait retailers and I can get stuff more cheaply. I rarely feel like I have to pull the trigger when I see a deal now. What is everyone else seeing lately?

[Eric Menchen]

I resisted as I'm not buying until the cellar is done, and I have more 2007 than I thought I needed. I might be kicking myself in 10 or 20 years, but WL and their Cindarella site have had a number of great Romaneira deals, so I wouldn't be surprised if this shows up again. It might be $30 then ...

[Andy Velebil]

I can't believe I missed this. Now I feel dumb for paying $30 for three of these awhile back. Noval Black is usually about $18. Crazy.

So what does this say about the overall market of port? Are there going to be more punts like this one? Between this and the Gould Campbell offers, I have to wonder what's going on. Is part of this downward pressure on price due to the economic situation in Europe, where much of the allocation goes? There's a cheaper Euro now, also.

I have seen some real weakness in SQVPs lately. I can locate 2005 Vargellas and 2005 Quinta da Rueda for $30 around Chicago, but I do have to drive a bit to get it. There just seem to be a lot more deals nowadays, but the $20 per bottle deal today was a new level.

I feel like all I have to do is outwait retailers and I can get stuff more cheaply. I rarely feel like I have to pull the trigger when I see a deal now. What is everyone else seeing lately?

Prices at recent auctions I've followed have come down, some vintages/producers more than others. but in general overall prices for Port are slowly going down on the secondary market. What effect that will have on the retail side is any ones guess.

[Brian C.]

I think there are inherent price relationships in the overall scheme of port. If some of the better SQVPs can be had for $30, and we see this insane punt for $20, what does this do to the pricing matrix? I would think there would be downward pressure more immediately on the nonvintage rubies and LBVs for sure. Wine Library seems to be showing this happening already. If auction prices are trending lower, then then retailers are probably going to see that and start marking down their inventories accordingly.

As Andy suggests, the secondary market is getting weaker. I think we've talked about the downward pressure on 1985 Fonseca, which seems to be a board favorite. As this gets cheaper, what happens to 1977 and 1994 Fonseca? How much more should one pay for 1977 and 1994 over 1985? The market seems to think 1985 should be cheaper, for sure, but there is an implied pricing relationship in there somewhere. Something has to give one way or the other.

The other question with the secondary market is how much cheaper should it trade than the market of perfect provenance? If the secondary market keeps dropping, what happens to the perfect provenance issues? Well, the Gould Campbell punt was certainly interesting in that regard. If Gould Campbell just got cheaper, do the premium brands start getting cheaper in those given years? As I mentioned, the cheaper end of the matrix usually is the next domino, but the question still remains.

I think it's pretty obvious that the nouveau riche from China and Russia are not very interested in port right now, anyway.

[Roy Hersh]

China and Russia have not caught on in a big way as of yet. Some of the Douro Boys and a few of the bigger players in the trade have spent significant time trying to crack those markets. Maybe in the future their watering the seeds so to speak, will pay dividends. However, at this point, the Asian market is not yet a serious player in the Port market.

[Brian C.]

That's good information to know about efforts being made in China and Russia. That said, it seems like a long term project, and not one that affects near term prices very much, which is good for anybody who is a buyer, though not so good for sellers. In the near and medium term outlooks, the European situation is probably going to drive this market more than anything.