Bordeaux prices dropping
Lately, it seems like large wine e-tailers are cutting prices on '05, '04 and '03. The first growths are still a different animal but I'm seeing some pretty drastic drops in other great wines. JJ Buckley attributes it to the strong surge in the dollar (snicker) with no mention of the slow economy.
I wonder where these prices are gonna settle in a few years.
It's not just Bordeaux, and it's not just e-tailers.
I posted re. this same issue some time ago, nobody seemed to care much.
Anyways, big time for buyers.
Right now I'm happier than a dog with two tails.
BTW, Buckley's "explanation" re dollar/euro surge is BS.
This "surge" happend right now, the price drop has been going on back since the Euro was in the $1.60s
Yes, absolutely. The surge in the $ should have no effect on the prices of wines that have already arrived and are in the inventory of American retailers, which is true for the wines mentioned. The effect of the strong dollar likely won't be felt for another 5 or 6 months.
Generally, these Bordeaux were overpriced. It's not surprising to see them fall down to earth.