“I never buy such young vintages,” reflects wine consultant Simon Tam – who calls 2005 “a stunning vintage” – morosely. “I can’t trust myself. They’d all be gone within 12 months.”
According to Alun Griffiths, for those with the patience to cellar, the wines may still be a fair bet to appreciate in value.
“In terms of investment, the golden rule has always been to buy the best wines from the best vintages. In that respect buying 2005 top wines yielded a very good initial return, and although prices have dropped 30-40 percent since the recession they are now firming up again, and in my view they will always be highly desirable wines, and so should represent a very sound investment if well stored,” he states.
Chateau Latour 2005, Pegna advises, was sold en primeur for nine thousand pounds (approximately one hundred and fourteen thousand dollars) pre case and at its height was worth nine thousand five hundred. Thanks to economically hard times – which released a lot of the vintage prematurely back into the market – it fell at one point as low as six thousand eight hundred. It is now back to eight thousand, a roller coaster ride which raises some interesting questions about the merit of en primeur buying when prices reflect not only the quality of the wine but the Bordelais idea of what the market will bear.
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