It is still too early to say what will happen to the Bordeaux prices. The presentation phase of the primeur campaign (wines from 2008) is now over and we are moving to the “price game”. Up? Stable? Down? We will know in the coming days and weeks. The UK market (most loudly) has clamoured for lower prices. Among the very first (perhaps the only one so far) to “release” its price for the 2008s is Chateau l’Angélus, owned by the business man Hubert de Boüard. He has launched his wine at 50 euro, compared to 85 euro for the 2007 – down by 40%. de Boüard says that his primary markets are in a crisis and that the 2008 is released at the same price as the 2004. One can then do the reverse calculation and note that between 2004 and 2007 Angélus raised their prices with 70%! So there is perhaps some margin for falling prices. Not many suppliers get a 70% price increase in three years.
