Bargains!

Tis NOT the season to be a wine seller. Check this out:

K&L Wines in California, a tremendously recommendable wine retailer, is selling 2003 Chateau Latour at $500 off. Not a price of $500 per bottle (that would be remarkable enough), but a price that is discounted by $500!!!!! Given 100 points by Robt Parker, this wine was priced at $1499 and is now offered at $999.

What a bargain! (not)

But I think this rampant discounting may be only temporary. There are greater trends at work which are pushing up wine prices over the long haul: I can remember a time, not more than about 8 years ago, when one could purchase a 100-point First Growth Bordeaux for about $150. I think the culprit here is a combination of (i) US dollar devaluation; (ii) inflation (both hidden and overt), (iii) growing demand from China and India for these wines. I believe that over the long term, all three trends are likely to continue (albeit jaggedly), so I don't expect a return to 2002 pricing, absent some kind of Global Depression.

Don't forget those great 90-94 point wines that you can buy for less than $30. They deliver fantastic flavor and value. And if you decide that you need a 100-point Bordeaux, by all means, CALL ME! ;)