Bordeaux 2008 Futures. To buy or not to buy?

As an avid fan of Bordeaux wines, I've been closely watching the 2008 Bordeaux futures campaign. I've been reading all the impressions from professional and recreational critics, and it seems that good values can be had in 2008.

Because of a more favorable exchange rate between the USD and the EURO, as well as a somewhat disastrous 2006 and 2007 futures campaign for the Bordelais, prices have been very reasonable across the board for the most part.

I think if one looks at value, there are undeniably good buys in the market place. Based on my personal preferences and tasting history, I would put Calon Segur, Lynch Bages, Pichon Lalande, Gruaud Larose and Leoville Poyferre into the group of wines I would buy a futures right now. Of course, tons of great chateaux have yet to release their wines and prices, so this list will likely grow longer.

One reason I think buying futures right now is a smart thing to do is that I believe the USD will again lose ground to the Euro in the coming years as the Euro nations are being more fiscally conservative with respect to inflating their currency. If I am right, then locking prices in right now is the smart thing to do. If I am wrong, well then I may lose a buck or two. The other, and age-old reason why to buy futures is to lock in provenance of the wines.

One issue of concern when buying futures in the current economic climate is whether the retailer one buys them from is going to weather the current economic times and resulting sales slump. So if you buy futures, make sure the retailer has a solid history of delivery and operates a model that can't be subject to cashflow issues. I won't go into detail which retailers to avoid or patronize, but I urge you to do your homework on this front.

As releases keep coming, I'll update my list of value buys.

Until then, A sante and don't forget to comment with your impressions on the 2008 futures campaign.

SP