"...prospects for much lower prices for 2006s don't look promising....the vintage is significantly better than I thought....and there are at least 10 well known wines that made 2006s that blow away their 2005s...and the latter vintage is a very great one for many estates.....also huge global demand continues...there is very little stock left...even of 2004....and the wealthy Asians,South Americans,eastern Europeans,etc.....are increasingly big players......the wine world is changing dramatically....the USA market remains very important but we are no longer the 800 lb gorilla....more like an adolescent chimp..."
The full post can be read here.
I read Mr. Parker's comments as incredibly discouraging. Not only may 2006 not see the return to pricing pre-2005, it may actually see an increase on many of the better wines. As impossible as that seems, I can actually believe it. The current worldwide demand for Bordeaux has gone through the roof and I, for one, am convinced that no future recession will undo this trend. Once people talk about a bubble, it won't pop, it may deflate slowly. Sort of like the general US housing market right now.
High prices seem here to stay, but 2006 may offer good buys depending on prices. I do doubt though that buying futures will make much sense for us US consumers. I am curious to see the full assessment of the 2006 vintage in another month.
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