It's 8:30 am on Wednesday. Day four and we're off to the races.
We're hitting some of the first and super seconds today. I'm looking forward to testing my "year of the terroir" theory.
First we hit Chateau Ducru Beaucaillou.
Bruno Borie, Ducru's owner always puts on a big show. En route to the tasting area, we stroll thru his contemporary art collection escorted by beautiful women. It's a big show that I've noticed is being emulated elsewhere so I'll have to rate the behind the scenes show as well. Pontet Canet has adopted the "James Bond girl" approach too, so today is going to be interesting on many levels.
Ducru - Beautiful nose, complex blue fruits. On the palate it's a beauty but not an all-time great. It's softer and easier with nice (not dry) tannins so it's great by comparison to the vintage. 94-96 DS.
Leoville Las Cases - I came in with high expectations but didn't love it. It's so pure and has gorgeous tannins but didn't have the power or flesh of 2009, which rocked my world. Hmmm, it seemed like Ducru but not as good. I was expecting more. Maybe St Julien was really affected this year. Well, I'm heading to the UGC tasting next to find out. 93-95 DS.
Here's my overview of the big UGC (Union des Grand Crus) tasting.
UCG tastings are events set-up to try the wines of each region. This year instead of hosting them in each region, Pauillac, St Estephe and St Julien are all in one room. I'll have 75 wines at my disposal, but will limit the tasting to the 15 or so that I'm most interested in. After all, how can you taste that many wines with any accuracy? In this tannic vintage there is extreme palate fatigue. I thrive at these events by only tasting wines that I'm interested in first so I dont burn out. I then go back and taste other wines after I taste the following 10ish wines:
BEYCHEVELLE - 93-95
GRUAUD LAROSE - 93-95
LANGOA BARTON - 91-93
LEOVILLE BARTON (I prefer my notes from yesterday so I give it 91-93 today but yesterday was much higher.) LEOVILLE POYFERRE - 92-94+
CLERC MILON - 94-96
D'ARMAILHAC - 93-95
GRAND PUY LACOSTE - 90-93
LYNCH BAGES - 96-98 (yes, never such purity and precision at Lynch Bages.)
PICHON BARON - 93-95
PICHON LALANDE - 93-95 (Much better today, I prefer this sample to the chateau tasting.)
After the UGC, we head off to visit some of Bordeaux best.
Chateau Pontet Canet - This is right around the corner from Mouton. Most people don't realize that this is a first-growth buster and much of the general public has probaly never tried it. Let's be clear, it's a super second growth or better. This vintage is very dark with a purple ring around it. The nose is exquisitely focused, intense and powerful. Not a monster wine but harmonius. Not a fruit bomb like it could be. 94-96 DS
Chateau Lafite - Lafite is the most expensive wine in the world because of Asia. Today, most bottles young or old start at $1500. Even the Carruades de Lafite, their second wine, formerly $30 btl, is now $500. If you believe that Asia will continue to grow, then assume these prices will grow in lockstep since it's synonymous with success in the Asian culture.
Lafite Rothschild - I have to give it up, Lafite is classic in style. It never changes stylistically, it just improves. This is velvet and silk, more silk actually. This is old world wine modernized just a bit. From one perspective it's too thick, then from another direction it's seamless and elegant. Complex. 97-99 DS
Chateau Carruades de Lafite - Best ever, whoa! It's like silk and it never was before. Asia pays $500 bottle for this so it's not for the US market anymore, but at least they have a good vintage. 93-95 DS
Chateau Duhart-Milon - Heavy and not so dynamic but still good. Again this is for Asia, you'll never pay the price. 90-92 DS.
After Lafite, we headed over to Chateau Mouton Rothschild. Mouton has a big lineup and it seems like their lower end wines have exploded in Asia. Prices have gone up even more than Mouton.
Mouton Rothschild - It's more modern than the rest, seems very modern after Lafite. Thick and good tannin. 95-97 DS.
Clerc Milon - Another rising star in Asia, I liked this slightly less than at the UGC tasting. 93-95 DS.
D'Armailhac - Interestingly it was much better at the vineyard than two days ago, and somewhat better than earlier today. 94-96 DS.
Le Petit Mouton- Formerly at $20 wine it's now about $200 due to Asian demand, this (unfortunately for the US) is so yummy and juicy!! No other words. 92-94 DS.
Today's thoughts and conclusions:
I think this is a very good vintage in a limited number of wines, and is just ok in many others. I think it's been over-hyped. A few wines have power and a finesse/lightness that's hard to find in a world of heavy over-extracted wines. This is the biggest plus of this vintage. I'm in serious "like" with a few wines. But then comes price.
At the beginning of the 2009 futures campaign last year the dollar to euro exchange rate was about 1.21. Today its around 1.41 so futures will be 20% higher before price increases which sound like 20% from what I've hear.
Here are the implications:
- For the US market, 2010's will roughly be 30-40% more expensive than the more desirable 2009 vintage. There will be a group of top 25 wines that people will want anyway.
- Other countries like Switzerland have seen their currency appreciate against the euro so they will have an edge. I'm not a currency expert but it does change the game from country to country.
- Apparently there is enough demand in Asia , Brazil and Europe to take everything. It seems that half the people here are from Asia this year.
Even if 2010's are judged to be of equal quality to 2009 (which in most cases they won't) the 2009's are cheaper and will drink younger. There's also a slick currency trade to be made on 2009's since merchants like myself have priced them based on last year's currency rate and have not raised prices. Bang, you've made a 20% currency trade win at time of purchase.
I'm not dismissing the 2010's and you've seen some good scores from me. It's just that I write from an American perspective. We have our currency issues and plenty of 09's for sale here at great prices. The wine world is growing and changing and I'd spend my money chasing back-vintages while everyone else is chasing 2010's. Back-vintages are lower priced, have more intrinsic value, drink now, age well and this could be the last chance to get them at these price.