Is Betting on Bordeaux Wines Pushing Your Luck?

December 19, 2014 7:35 AM

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Is Betting on Bordeaux Wines Pushing Your Luck?

THE DEBATE OVER whether Bordeaux will be able to sell its next vintage seems to be taking place earlier and earlier. It used to be that a few weeks before the annual unveiling of the wines, during the weeklong En Primeur tastings held every spring, you might get the odd broker or château owner opining about the present state of the market and warning that the prices would have to come down or go up, depending on their interest. But here we are in November, and already there’s much debate about whether 2014 will be the vintage that brings the whole Bordeaux wine futures system crashing down.

James Miles, co-founder and managing director of Liv-ex, the London-based fine-wine exchange, warned earlier this month that after three, arguably four, failed campaigns, “2014 has to work.” For this to be the case, he said, “prices will have to fall further than many in Bordeaux currently appreciat...

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