INFLUENTIAL WINE CRITICS
There is no doubt that there is an element of subjectivity when it comes to determining the quality of wine inside the bottle — and to some extent that should remain so. However, it does take a highly trained palate to identify not only quality but also the ageing ability of a particular wine – and therefore it’s potential as an ideal investment opportunity. Of course there are other influences, including ‘brand’ recognition, as well as the demand and supply factor in the ‘Secondary’ market.
PAY ATTENTION TO PARKER!
There is no doubt that the market value of a wine leans heavily on the opinions offered by influential wine critics. None is more powerful than the acclaimed critic Robert Parker Jr. Since his well recorded ‘call’ on the now legendary 1982 vintage, and his 100-point rating system (created with friend, Victor Morgenroth), the majority of the wine investment community (including the Chateaux owners) wait every year with bated breath for his En Primeur tasting notes to determine if they should buy or not.
Featured left (Source: Liv-ex) , is a chart showing the trading price for Chateau Lafite Rothschild 2008 from it’s En Primeur release dated 16th April 2009 to when, 13 days later, Parker released his notes.
Despite the influence of Parker, which is difficult to ignore, there are many other ‘voices’ that T&J take note of when assessing investment potential.
Jancis Robinson (and her Purple Pages) has for many years played a vital role in aiding the consumer and writes for the Financial Times here in the UK; Allen Meadows (Burghound.com) has become a guru for lovers of Burgundy; James Suckling (another American) has also become renowned and well respected within the market place; Jeanie Cho-Lee (asianpalate.com) was the first ethnic Asian to receive the title Master of Wine in 2008 and for obvious reasons is recognised as a voice of the Asian consumer.
ROBERT PARKER’S ‘MAGICAL 20’ FROM THE ‘GREATEST VINTAGE’ OF OUR TIME
Another example of Robert Parker’s influence in the wine investment market was apparent when he released his ‘Magical 20’ list from the acclaimed 2009 Vintage – deemed to be one of the ‘Greatest vintages’ of all-time.
At a tasting event in Hong Kong, with 1,000 (paying) ‘tasters’ – sipping from 20,000 glasses of Bordeaux 2009, Robert Parker spoke passionately of his “Magical 20”
In his own words…………………………………….“These are the greatest wines from the greatest region on earth. These wines are better than any wines the First Growths produced in the ’50s and ’60s, and as good as the wines they are producing today.”
NEEDLESS TO SAY, DEMAND WENT ONLY ONE WAY!