Bordeaux 2011: Lafite price down on last year

News that Château Lafite has dropped the price of its 2011 vintage on last year will have little impact on what other chateaux choose to do, according to top merchants.

The price to negociants is 350 euros + 2% courtage and in theory it should sell to the trade at around 420 euros.

Farr Vintners¡¯ chairman Stephen Browett said it should go on sale with merchants at about 20% less than any other Lafite vintage.

¡°This is great news for Bordeaux buyers and we sincerely hope that it sets a trend for other chateaux to follow. This is a decent, not great, vintage that we need to be able to offer to our customers en primeur at a lower price than they can currently purchase physically available vintages such as 2008, 2006, 2004 and 2001,¡± said Browett.

Berry Bros & Rudd¡¯s Bordeaux buyer, Max Lalondrelle, said: ¡°The early release of Lafite will have little impact on the release of the other first growths and other wines in general.

¡°The first growths usually release together but this time I feel that the others cannot go out at the same price and will need time to think things through - mainly because there aren¡¯t any cheaper vintages of Lafite on the market but there are plenty of Mouton, Margaux, Haut Brion and Latour from drinking vintages at much cheaper prices.¡±

¡°I think everyone in Bordeaux will take a deep breath and a normal release pattern will resume from tomorrow. There are still major risks of frost in the region and most chateaux will wait for another week or two before releasing - things will be quick after that.¡±

Mark Schuringa, managing director of Ditton Wine Traders, said Lafite¡¯s price was ¡°fair¡±. he continued: ¡°It will allow the trade to sell this cheaper than any physically available vintage of Lafite. Which is both how en primeur should be and much needed considering the quality of the vintage.

¡°It¡¯s also very encouraging that Lafite release so early in the campaign and, importantly, before Robert Parker releases his scores.

¡°However, the price drop of 25% as compared to 2010, might work for Lafite, it won¡¯t work for the other first growths as that would price the 2011 above physically available vintages.¡±

Two thirds of last year¡¯s tranches at Lafite have been released, and there is speculation at this stage that they are keeing the additional third back for a second tranche.

Meanwhile, on Twitter, Tim Atkin MW described Lafite¡¯s 50% drop on last year as ¡°about right, given the drop in quality¡±.

Hamish Wakes-Miller, who owns wine distribution firm Bella Wines in the UK, was unconvinced it was a big enough reduction. He tweeted: ¡°50%???? The release price ex negoce (€450) is 25% below the 2010 (€600) but 246% above the 2008 price (€130). A big enough drop?¡±