33
businesses to support academic study
and wine culture, international market
development, media relations, scientific
research and education programs
that benefit the entire wine industry
and consumers. The Wine Institute
also pursues numerous programs and
community alliances that promote
sustainable and healthy practices from
the ground to the bottle”
74
.
WINE IDENTIFICATION
TOOLS
Examples of other new innovations
include LWIN – a universal product
identifier – which will facilitate a system
of messaging over the internet allowing
the trade to share information with
each other electronically. Liv-ex has also
introduced a unique identity number
(UID) that allows merchants (and their
customers) to track wine through the
supply chain at the individual case level,
something that has always been difficult
in the wine trade. Liv-ex believes that,
these and similar initiatives have the
potential to drive down costs and speed
up cycle times.
75
ROBERT PARKER
Another major influence on the market
is likely to be the Robert Parker’s
gradual withdrawal from the Bordeaux
scene, starting with his stepping down
from En Primeur coverage and handing
over responsibility for barrel tastings
to Neal Martin, which was announced
in February 2015. This will mean that
the number of wines scored at 100
points by the most influential figure
in fine wine assessment in the last
thirty years cannot increase and those
which currently hold the accolade
may find themselves under increasing
demand and focus. It also removes the
possibility of their scores being adjusted
downwards at any future tasting.
Other predictions are that Mr. Parker’s
announcement was good news for En
Primeur as châteaux will be forced to
start pricing conservatively again. Gary
Boom, managing director of fine wine
company Bordeaux Index believes they
will either release their prices before the
scores are published or they will follow
the scores of Neal Martin which have in
the past been more conservative than
Mr. Parker’s.
76
THE DEATH OF HIGH
PROFILE PRODUCERS
Another consideration for the future of
fine wine products is the not only the
effect of changes of critics, but of losing
high profile producers as they age. This
obviously renders the wines they have
produced finite, having a potentially
huge impact on collectability, demand
and thereby, valuation. This was
demonstrated by the recent passing
of Henri Jayer and the record prices
achieved by some of his vintages at a
February 2015 auction. This may not be
the biggest consideration for long term
investors, but it has been demonstrated
that it can certainly have a notable
influence.
THE RETURN OF BORDEAUX
AS AN ATTRACTIVE
INVESTMENT PROPOSITION
Positive influences are certainly being
felt within the investment market,
with many commentators stating that
Bordeaux prices have now bottomed
out, meaning that great vintages,
including the spectacular 2009, are
currently sitting at their most affordable
price in a market that is set to grow and
making the argument to allocate capital
towards 2009 over a medium to long
term hold an appealing one.
Furthermore, Cult Wines feels that, “It
is not only the big names and 100pt
wines that are now offering investors
and collectors value, there is arguably
as much opportunity in a host of wines
that have been awarded scores within
the 95-100 point range, particularly
those of the 1982 vintage, which were
the reigning best vintage before 2009
came along; over the past 10 years
the 1982 wines, have entered their
appropriate drinking windows and
as a result, the inherently rare wines
have become even scarcer. The unique
aspect of the 2009 vintage is that a lot
of wines are drinking very well now
and should continue to do so for the
next 30+ years. This is highly relevant
from an investment perspective, as the
supply demand imbalance that drives
the price up for a wine should have a
more significant impact in the short
term than previous prime vintages“
77
.
“It is not only the big
names and 100pt wines
that are now offering
investors and collectors
value, there is arguably
as much opportunity in
a host of wines that have
been awarded scores within
the 95-100 point range,
particularly those of the 1982
vintage which were the
reigning best vintage before
2009 came along”
TomGearing, Cult Wines
“The wine makers are not just focused on protecting their wine, but also on making better
wine to protect”
