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Ch. Valandraud Lowers Prices for 2004 Vintage
Garagiste Jean-Luc Thunevin is first major producer in Bordeaux to release futures prices to the trade
Jo Cooke
Posted: Tuesday, April 05, 2005
Ch. Valandraud in St.-Emilion is the first major name in Bordeaux to announce the price for its 2004 futures, and it has cut the cost substantially from recent years in an effort to stimulate what is expected to be slow demand for the region's wines from this vintage.
Owner Jean-Luc Thunevin has set a price of 85 euros ($109)--nearly half the 165-euro price tag for the 2003 vintage and less than the price for the 2002, which was released at 100 euros. Thunevin said the 85-euro price--which is the cost to the wine trade, before the various markups are passed on to consumers--will remain in force until the end of April. The wine, which is currently aging in barrels, will be released in bottle in 2006.
Thunevin chose to make his announcement much earlier than normal in Bordeaux's futures campaign. It coincided with the arrival in the region of members of the wine trade and journalists from all over the world, who are participating in the first official 2004 barrel tastings, which started on April 4.
Thunevin said he hopes the "half-price" offer will attract clients, especially those whose purchasing power is affected by the weak dollar. "I want people to be able to come and taste the wine with the price in mind," he said.
Price is predicted to be the dominant issue of the 2004 futures campaign, as proprietors face the prospect of selling what Wine Spectator senior editor James Suckling has called a less-than-ideal vintage in the context of a difficult economic climate.
Valandraud, whose bottlings have often rated outstanding, is one of a number of "garage" wines produced on Bordeaux's Right Bank in very limited quantities for high prices. The garage-wine trend started in the mid-1990s, but has lost some of its market appeal in recent years.
"Garage wines have become less interesting to serious buyers," said one London-based wine merchant, "[because] the classic chโteaus are making such good wines in recent good vintages."
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