For The Love Of Port

Since the poop hit the fan w/the worldwide economy in late '08, prices dropped on many wines from top to bottom. Ports which were already great values for the most part, declined in price and bargains were aplenty for the sharp buyers willing to do their diligence. But pricing has headed back up and not only for Port.

Where does it go from here?

I've been buying Madeira at auction lately and the prices are definitely up. Bad for the pocketbook.

Given this week's grab bag, it is apparent the deals are still around, but typically on YOUNGER bottlings of Port.

Roy Hersh wrote:Given this week's grab bag, it is apparent the deals are still around, but typically on YOUNGER bottlings of Port.

Yes, I'd agree. In general I've seen the younger ones have better pricing at auction recently than the older ones. But it will be interesting to see how things develop after the holidays.

From what I've heard there is a huge amount of dry wines left unsold in US importers/distributors warehouses and people have predicted that sometime soon that levy will break and there will be a flood of good deals. How that may affect Port prices, I'm not sure. Unless they are sitting on large stocks of unsold Port. But if the perception of "everything needs to be a deal before I buy" takes hold, that could translate to Port prices having to come down by default if people don't buy due to a lack of a "good deal."

The one thing I have seen come down in the past year or so is Douro dry wines comnig down a bit in price (a few super high end ones being the exception).

Echoing what Andy says, I just saw some Barolos offered at Binny's for less than $30, and they're not 2002, either. And if all these emails I get from wtso.com are any indication, California wines are really taking a hit right now, also. It just feels like there are more bargains in the pipeline right now. When I see someone mention a deal on here where 20 year tawny is only $20,that too makes me wonder. Restaurants are starting to cut prices, too. There are a lot of different promotions they offer. One place by me offers a free bottle with two entrees on one select weeknight, I kid you not. Not like these bottles are to die for, but that is an indicator of sorts. Jobs are not coming back very quickly. Wine seems like a lagging economic indicator of sorts. I just keep seeing wines coming down in price. I don't feel like I am getting burned very often by waiting.

How does this apply to port? Well, I am noticing more sales on port at Binny's lately. I mentioned the 2005 Silval. I think I will be seeing more deals like that in the future, and probably even better ones. We are talking about luxury items. In this economic climate, I just don't see luxury items holding value so much. i would think that higher end wine is a lagging economic indicator, and we are starting to see the fallout right now. I can't say whether we are bottoming out now, but some of these price drops are mind boggling.

Here's my take: For older Ports the amazing deals are probably a thing of the past.... but you can still get lucky occasionally at auction. For younger Ports you should still be able to find deals - shops or distributers just closing out on certain wines, or also the always productive "Change of Distributor" (where the former distributor dumps huge quatities on the market of a particular brand). You just need to move quickly when you see it.