Victory for Château Ausone and Barrière Frères in trademark dispute in China

The Chinese Trademark Office (CTO) supported the two Bordeaux companies, rejecting and outlawing two uses of similar names and images.

Négociant, Barrière Frères was challenging the submission of a ship logo which it said was too similar to the ship it uses for its “Grand Bateau” label.

Ausone also won its case to abolish the use of its name in Chinese characters.

The offender in the case is said to be known in Bordeaux circles as “the trademark squatter”, and was accused by the CTO as acting in bad faith.

source: www.thedrinksbusiness.com

Vigneron’s across France endured a disastrous spring, followed by an equally unpromising start to the summer, however the recent emergence of the sun means that the 2013 vintage could now become one to remember.

Hail storms and heavy rains throughout the spring delayed harvest by at least two weeks, however, the current forecast is favourable and indicates that the warm weather is here to stay throughout the summer and into the autumn.

Pascal Férat, president of the representative body of grape growers, the SGV, in Champagne explained that: “The current weather report is favourable, flowering has finished, with the potential of a generous yield, but the summer months will determine the quality of the grapes and the wine,”

Growers are certain that the harvest will be late: “The harvest will not be as early as last year, that’s for sure,” said Jean Bourjade of Inter Beaujolais, the gamay-producing region’s wine trade body.

This situation is mirrored in Bordeaux: “We are two to three weeks behind, compared to a normal year. A beautiful summer, which is expected, will allow us to make up a week but we will certainly have a very late harvest,” said Benoît Purbet, vineyard manager in Saint-Émilion region.

Again, in the Loire Valley, Jean-Martin Dutour, of InterLoire commented: “Compared to recent years, we are between 10 and 20 days behind. If we have good weather in the months of July, August and September, it may not be so late in the end.”

The general consensus is that a reasonable crop is expected, but not outstanding. Cold weather and hail have still reduced yields considerably.

Comparisons are being made between this year and the conditions of 1983- a rainy spring followed by a dry summer.

Source: www.wine-searcher.com

Château Latour 1982 @ £17,000 per case

 Parker Notes:

“Always somewhat atypical (which I suspect will be the case with the more modern day 2003), the 1982 Latour has been the most opulent, flamboyant, and precocious of the northern Medocs, especially the St.-Juliens, Pauillacs, and St.-Estephes. It hasn’t changed much over the last 10-15 years, revealing sweet tannins as well as extraordinarily decadent, even extravagant levels of fruit, glycerin, and body. It is an amazing wine, and on several occasions, I have actually picked it as a right bank Pomerol because of the lushness and succulence of the cedary, blackberry, black currant fruit. This vintage has always tasted great, even in its youth, and revealed a precociousness that one does not associate with this Chateau. However, the 1982 is still evolving at a glacial pace. The concentration remains remarkable, and the wine is a full-bodied, exuberant, rich, classic Pauillac in its aromatic and flavor profiles. It’s just juiced up (similar to an athlete on steroids) and is all the better for it. This remarkable effort will last as long as the 1982 Mouton, but it has always been more approachable and decadently fruity. Drink it now, in 20 years, and in 50 years! Don’t miss it if you are a wine lover. Release price: ($350.00/case)” Robert Parker Jnr; Wine Advocate (183), June 2009

• £17,000 per 12 (IB, OWC, immaculate condition)
• Lowest priced under bond, original wooden case in the UK market and globally on Wine Searcher
• 100 points RPJ, most recently June 2009 and has attained perfect score three times consistently since 1995
• Only other perfectly-scored back vintage is the 1961
• Cases (12x75cl) of the ’61 currently trade over £50k for wines in reasonable condition
• There are currently only 13 cases (12x75cl) listed globally for the 1982 vintage – compare this to other perfectly-scored vintages below and it’s discerning to see how a reduction in available volume affects price over time.

The condition of this case is truly exceptional and we’re pleased to offer as per the attached photo.

Had Sotheby’s April 3^rd auction been held two days prior, the results would have been dismissed as codswallop. But alas, there were no fools and the Hong Kong auction was truly an indication that the Chinese appetite for the Bordeaux Grand Cru wines is as strong as ever.

The eleventh offering from the ‘A Great American Collector’ series was described by Sotheby’s as featuring “the finest selection of wines from Bordeaux, Burgundy, Champagne, California and Italy”. And they were clearly not exaggerating, with 97.5% sold by lot and 99.8% sold by value! Perhaps the most impressive figures though, were those of the top Bordeaux lots, which surpassed expectations by some way.

Some highlights are detailed below:

Both the variety of wines and vintages purchased and the consistency of sale prices over and above high estimates provide a discerning example of the premiums buyers will pay for stock with outstanding provenance.

Serena Sutcliffe MW said of the sale items: “It is always stimulating to catalogue the impeccably sourced and stored wines amassed by this discerning collector – it is a flawless cellar…”. A strong argument for only buying fine wine from reputable sources and at the youngest possible age.

From a market point of view, these results have to be treated as outliers, but it must be said that it’s encouraging news that there is resurgent demand for First Growth Bordeaux.

With en primeur 2012 fast approaching and the first quarter of the year drawing to a close we took time out to speak with Aarash Ghatineh, our UK Sales Manager, to understand his thoughts on the start of the year for the fine wine market, and what he expects for the rest of 2013. As UK Sales Manager his day-to-day role involves liaising with all new and existing clients as well as overseeing our entire sales team, formulating existing and on-going investment strategies.

2012 was a tumultuous year for all investment markets, including fine wine, what were your thoughts on the year and were there any positives to take out of 2012?

A.G: 2012 saw more worries with continued fears about Europe, U.S. double dip concerns & weaker growth in the emerging markets. These tough economic conditions coupled with faltering prices for investment grade wines & a dismal Bordeaux en primeur campaign contributed to what was a testing year for the Fine Wine Market. Withstanding the turbulent market conditions, there are some great highlights & positives to take out the year’s trading. The Bordeaux 2009 vintage fared extremely well upon Parker’s in bottle assessment awarding 19 estates the coveted 100pts, leading to strong price development. Foretelling Parker’s scores can be a risky business but our stock selections from the 2009 vintage saw an average increase of over 50%. Exciting developments for the Right Bank at the end of last year, with Angelus & Pavie which were promoted in the recent St. Emilion Classification and are now trading at all-time highs. The market correction for Top end Bordeaux meant that buyer’s appetites widened with an increase in demand for Burgundy, Super-Tuscans & Champagne, and I expect this interest in other regions to continue in 2013.

People are predicting a positive year for the wine market in 2013, would you go along with this?

A.G: 2013 has started very positively & the general global demand for Fine Wine is at a high point, which suggests that we are in line for a market resurgence this year. In the past, prices reached ‘bubble’ territory for certain wines & the aftermath of that bubble bursting has undoubtedly been tough. However, the market correction represents a good buying opportunity and it seems that confidence is returning to the market.

What trends would you expect to shape the wine market this year?

A.G: I think a lot of buyers have learnt their lessons over the past 18-24 months and the days of sustained blanket buying are behind us. I think we will witness a return to a genuine focus on quality and value, with a much more selective market. I think our customers will continue to diversify their portfolios, paying particular attention to Rhone and Super-Tuscans. The regions that have been relatively untouched by new markets offer a strong investment opportunity.

And subsequently where do you think there are investment opportunities?

A.G: The Bordeaux First Growth market has come down significantly in price so I think there are some strong buying opportunities for well scored vintages. The Bordeaux 2010 in-bottle scores have been released & whilst certain wines were released slightly high En Primeur, we feel there is some great value to be had in the top scored wines such as Pape Clément 2010, the best value 100-point wine currently available at £1,500 per case of 12. There is no doubt that the market focus will be firmly directed at the 2009/2010 vintages which represent the pinnacle of Bordeaux wine making. The recent acknowledgement from Parker of Northern Rhone’s achievements in the last three vintages will undoubtedly stimulate interest in the region’s top producers such as Guigal & Chapoutier. Production for these specialist wines are extremely limited, and they often become very scarce within a few years of release. With the market continuing to broaden further, Champagne is a worthy portfolio addition, it is quite a safe option, as it is a region also untouched by the Far Eastern market, and could be in line for a substantial price increase in the coming years.

Following the disappointing EP2011 campaign, how important do you think EP2012 will be to the on-going recovery of the market?

A.G: I will defer opinion on the vintage until the rest of the team and I taste the wines in April. It is clear that the market is in recovery mode and a lot healthier in terms of demand, but of course the EP2012 campaign is a key cog in this wheel. In terms of pricing, you would like to think that the prices will have to come down on the last three years to really excite buyers but I feel that the price of 2012 will be similar to the 2011s. Historically, en primeur returns have been at their greatest in off-prime vintages so if pricing & timing is right then it could provide a boost to the on-going market recovery. Equally, if prices are too high this will have a negative impact on the market.

Having advised private clients in the market for the past 5 years, what would be your best piece of advice?

A.G: This is a cyclical market, do not take a snapshot view or expect to make a quick buck, take a medium to long term outlook.

What is your desert island wine?

A.G: Ch. d’Yquem 1988

What would you eat with it?

A.G: If there doesn’t happen to be a big slab of blue cheese knocking about, it would have to go with a freshly caught Salmon.

The Cult Wines team from left to right: Aarash Ghatineh (Sales Manager), Tom Gearing (Director) Philip Gearing (Director) Tom Turner (Head Buyer) Jonathan Stevenson (Senior Portfolio Manager) Helen Tate (Sales and Marketing Manager).

The first day of en primeur tasting has been a really long and arduous day (but someone’s got to do it!). We arrived in Bordeaux last night just in time for aperitifs on the terrace in our très belle, centre of town maison. We wisely turned in at a conservative hour in order to wake up fresh for the first day of tasting on the right bank.

Our first destination was Château Cheval Blanc, we arrived full of excitement- naturally, as we were about to taste one of the right banks most revered wines.

En primeur tends to be a rather one in one out kind of affair, as schedules are packed, so the pressure is on for the wines to make a significant enough impression during those vital minutes, so that merchants and critics leave feeling inspired and delighted by the wines – and our first appointment didn’t disappoint. Château Cheval Blanc’s grand vin was fresh, vibrant, structured and elegant, displaying a delicate floral bouquet with profound violets and rose aromas and flavours.

Cheval Blanc introduced new tanks two years ago, of which they own the patent to the design, the genius thing about their tanks is that the conical shape allows for less ‘remontage’ to be carried out. The carbon dioxide generated through fermentation forces the grapes upwards and naturally funnels them into the tighter area at the top of the tank, thus achieving a natural maceration via the grapes being squashed together.

The team concurred that the grand vin, which is a blend of 54% Merlot and 46% Cabernet Franc is a powerful wine of exceptional length and precision, and will therefore be eager to taste this wine again in 2014.

Next stop was Château Ausone, a humble operation by Bordeaux standards, but producers of phenomenal wines and one of the most picturesque settings in all of Bordeaux. We were suitably impressed by Ausone and its second wine Chapelle D’Ausone, which exhibited astonishing concentration, and we feel that this wine offers excellent value for money. Having said that the Fonbel also really shone, clearly the Vauthier family along with Michel Rolland have worked hard to achieve such excellence during a tough vintage.

Following this we visited Château Pavie which having been upgraded in the September Saint Emilion re-classification and a few weeks away from the completion of their new cellars are having a particularly good year. Tasting the range of Gerard Perse wines the team very much enjoyed the Clos Lunelles and the Bordeaux Blanc, Chateau Monbousquet, both were expressive and refreshing. Pavie itself was a slightly different in character to previous years when it has been criticised by some from being over-extracted and not representative of the terroir – but in our opinion the team here can be very proud of producing a very good wine once again.

After a tough morning and with the storm clouds gathering overhead, we headed off for Lunch which turned out to be quite a decadent affair, at Château Fombrauge hosted by Bernard Magrez and the multi-michelin starred Joël Robuchon . We sat with some good suppliers of ours from Bordeaux, and enjoyed a fantastic meal. The menu was the perfect mid tasting revitaliser, a starter of Chou farci du homard with a beurre rouge (yes…we were as confused as you – it turned out to be an exquisite lobster and cabbage dish), a main of chicken with foie gras stuffed ravioli, accompanied by two vintages of fombrauge blanc and rouge.

The afternoon highlights were abundant.

Château L’Eglise Clinet was a refreshingly un ostentatious experience, the tasting room is a very plain room adorned with some slightly dubious artwork. Sadly, Dennis Durantou wasn’t there to host to the tasting, but the wines spoke for themselves. Again, intensity, freshness and balance was found.

Château Le Pin was an almost surreal experience, a first time for everyone in the team. We were all struck by the absolute minuteness of the property; the tanks, vineyards and cellar are all a reminder of how tiny this property of 2.7 ha is. Jacques Thienpont greeted us, along with his two young sons, we all felt extremely privileged to taste the wine in his company. We were surprised by his excellent sense of humour, not that Belgians have a reputation for having a dodgy sense of humour or anything… But he really proved that there is no need for taking things too seriously when you know you’re at the top. Unsurprisingly the Merlot dominated wine topped most of our team’s list at the end of the day.

Château Vieux Chateaux Certan was next on our itinerary and also the other Thienpont family run vineyard just a short drive away from the tiny Le Pin vineyard. Alexandre Thienpont hovered unassumingly throughout our tasting hosted by his son in their cellar surrounded by picturesque buildings and vineyards. Thienpont quotes on the homepage of their website that his job is ‘to know how to stay in the background and let the wine express its true personality’. This couldn’t be more accurate, their minimal intervention approach results in a massively complex and elegant wine that probably exhibited the most individuality of the whole day.

Last stop, Château Clinet, for perhaps the most fun winery experience one can have. Monique Montepini, head of marketing, explained that Ronan Laborde, the owner of the Château wakes up each morning with a new, eccentric idea for his estate. His vision for the en primeur tasting week experience was to transform his winery with coloured lights and a huge, highly detailed cinema screen backdrop with incredible images of the estates projected on a slide show behind the tanks and press. There was also a film premiere style pop-up photo studio erected for visitors to have their photo taken in front of= FUN! (especially for those of the team that like to have their photo taken) The wines were striking, the Ronan-Clinet was fruit driven with excellent structure and length, whilst being a total steal at less than 10 Euros a bottle. The Fleur de Clinet was equal to this and their top wine outstanding too. We got to re-taste the 2010 Clinet as well which really showed what a fantastic wine it is.

The sun made a sneaky, brief appearance for the last few hours of day light, so we headed for St Emillion for a beer to round the day off with. But not without a lot of walking up and down cobbled streets, which proved difficult for our newest member of the team in her high heels.

Our overall conclusion for the day was that the wines were genuinely impressive and expressive, our Château visits couldn’t have been more varied in terms of how the wines were presented. However, this just proves that with the average size of vineyards in St Emillion, being around 7 ha, the region provides a joyous tapestry of diversity and personality, and whilst it may sound like a bit of a cliché, the characters we encountered were also evident in their wines.

it was also clear at the end of our first day that 2012 is a vintage that suited the Merlot grape and with many of the properties we saw today using record levels of Merlot in their final blend, it will be interesting to see how the left bank wines compare.

Tonight we are relaxing at the house, where PG is cooking dinner ………check back tomorrow for more on Bordeaux 2012. You can also keep unto date with us via twitter @cultwinesuk and by using the #bdx12 hashtag.

The first quarter of this year has rapidly vanished, and spring has arrived symbolising the tasting of wines ‘en primeur’ (wine futures), from the previous year’s harvest. (Read last week’s post by Tom Gearing for a comprehensive overview of the system). For the past five years the Cult Wines team have attended the illustrious en primeur tasting in Bordeaux, each year has been a unique and enlightening experience. Wine aside, this is a week of grandeur in many ways; the Châteaux’s themselves are silently competing to provide the most memorable experience, and it is often the ‘extra little touches’ employed, that generate the most discussion.

Bordeaux is besieged by journalists, merchants and aficionados, resulting in colourful array of characters, creating an electric atmosphere. With close to a potential 1,000 different wines to try and innumerable venues to choose from, devising a schedule is the first major challenge to overcome. It is necessary to pack a lot in throughout the four days, and as our timetable illustrates we have done just that.

Our objective next week is to visit the Châteaux’s, taste the wines which are still in barrel, and assess the price quality ratio, whilst avoiding palate fatigue induced by the young sometimes tannic wines, but alleviated (according to Jonathan Stevenson -Portfolio Manager) by the outstanding cheesy snacks on offer at most of the Châteaux’s, especially Angelus.

The general consensus this year is that prices need to decrease by at least 15% and 30% for First Growths, in order to avoid last year’s scenario of high prices creating deterring buyers.  It is common knowledge that 2012 was a tricky year, and producers will be sure to stress the effort and sacrifices incurred in order to maintain quality. Click here to read: The 2012 vintage report by Professor Denis Dubourdieu

Our schedule:

Day one: focuses on the Right Bank wines, which received some good feedback at the Cercle Rive Droite tasting in March. Critics noted that the wines in general had impressive aromatics, as well as being flavoursome and well balanced.  Alain Raynaud, the president of the Cercle Rive Droite, said that the grapes had good polyphenols and anthocyanins, which would imply the wines would age well. Châteaux’s Le Pin and Valandraud will be visited by us for the first time, serving as an exciting addition.

Day two: focuses more on the Left Bank, visiting three out of five Premier Grand Cru Châteaux’s. As well as Pontet Canet, Montrose, Calon Segur and Cos D’ Estournel. In between a busy tasting schedule it is also important to re fuel, and this year we are particularly lucky to be having lunch at three estates who have produced 100-point wines recently, Pontet Canet, Pape Clement & Le Dome. Last year lunch at Chateau Pontet Canet was widely regarded as one of the highlights of the trip and no doubt, this year will be just as impressive.

Day three: Some slightly lighter wines of the St-Julien and Beychevelle commune on the left bank to start the day of.  Then along to Premier Grand Cru Châteaux Margaux, and to finish the afternoon Chateau Palmer.

Day four: Kick starting the day with Premier Grand Cru Château Haut Brion, followed by Le Dome, which is a first for the CW team, so naturally we are eagerly anticipating this experience. Chateau Pape Clemant serves as the ultimate finale destination, as it is one of our favourite producers.

In order to ensure that we are able to fully re-charge our batteries each night, we have arranged to stay in beautiful XIX century hotel private mansion in the center of the city. Hopefully the weather holds out so that we can make use of the roof terrace! If not we will have to relax in the underground cinema instead!

You will be very pleased to know that we will be taking things fairly lightly each evening in order to preserve our sensitive palates, so for those in the area wishing to catch up for a glass in the evening we will be dining ‘Chez Base’ on Monday, where the team will be enjoying the sensory delights of PG’s culinary skills. Tuesday much of the same with a local chef providing us with a feast of Bordeaux gastronomy, and finally on Wednesday we venture out into Bordeaux, dining at a superb restaurant called Comptoir Cuisine. We will be providing a culinary update for those interested including wines consumed (tasting notes if we can find the napkins at the end of each meal), and you will be pleased to know that we will be imposing a curfew of 10pm to ensure the team are fresh and ready for the next challenge!!

We will be posting daily updates on this blog detailing our thoughts on the wines we have tried, you can also communicate with us on twitter @cultwinesuk

In 2009 Liv-ex devised a well needed recreation of the 1855 classification, ranking major left bank wines according to price, this was then updated in 2011, and again, last week.

The original 1855 classification was developed by brokers at the time at the request of the Bordeaux Chamber of Commerce as part of a display at the Paris Universal Exhibition of 1855. The classifications were based entirely on price, and only included major Left Bank estates.

The theory behind the Liv-ex Bordeaux Classification system states that wines have to be from the Left Bank (including Pessac-Leognan) and have production levels in excess of 2,000 cases. The average price for every qualifying wine is calculated taking the: (lowest available wholesale price for an in-bond owc 12x75cl case in good condition, excluding duty and sales tax) for the past five vintages, 2007-2011. Prices are in GBP and as of 28 February 2013.

The wines are then grouped into price bands, which for 2013 include:

• 1^st Growths: £2,600 a case and above
• 2^nd Growths: £700 to £2,599
• 3^rd Growths: £450 to £699
• 4^th Growths: £320 to £449
• 5^th Growths: £250 to £319

Further information click here!

Following a challenging year weather wise, Bordeaux wines are said to be expressing ‘finesse, rather than power’. Dry whites and rosés were said to have enjoyed a superior harvest in comparison with the reds and dessert wines, with major obstacles including mildew, rot, poor flowering and fruit set.

Christian Hostein, vineyard manager at Château Talbot in St-Julien, explained that a high level of rainfall in September, resulted in an explosion of rot in October, despite this he describes the wines as: ‘totally classic Bordeaux’.

Xavier Planty of Château Guiraud, explained that for Sauternes, yields were small and quality highly variable.

Philippe Dambrine, manager at Château Cantemerle, summarised saying that: ‘The unusual power of recent vintages will probably give way to finesse this year, but the 2012 wines will certainly give pleasure in a few years’ time, just as the 2001s and 2004s are doing now.’