Wines Then and Now: Part 3
Old World big boys: Burgundy and Bordeaux
Since we’re using a compressed time frame here, changes in the exchange rate can hardly be blamed for price jumps, and jumps in pricing similar to or greater than what we’ve seen in other regions should be even more alarming. Let’s see what the numbers say.
2005 Domaine Georges Mugneret/Mugneret-Gibourg Nuits St. Georges 1er Cru Les Chaignots $80 now $110 The 2010 is $120
Well, the number’s don’t lie. What we’re seeing are jumps similar to those experiences over a decade, yet in other regions occurring in just five years. 2010 was a low yielding vintage in Burgundy so supply is unusually depressed, but in many cases these 2010 prices are very similar to their 2009 counterparts. Once the marketplace has crossed a threshold and determined that Domaine X in a good vintage is worth $Y, it’s almost impossible to uncross that threshold, particularly in a region like Burgundy where there might be a touch less influence wielded by the major critics.