Mind blown by Burgundy pricing

[David M. Bueker]

Got an email from Crush yesterday. No they are not the place for bargains, but they were offering the 2018 Mugneret-Gibourg Vosne Romanee for $429 a bottle. I paid $35 for the 2002 (should have bought a truckload), and dropped out after the price topped $100.

$429 for village Vosne from a producer that is still active? Then I saw 2019 Roumier Chambolle Musigny pricing elsewhere. Oh my gosh!

Looks like it’s Oregon Pinot from now on!

[Robin Garr]

It is insane. Those types of 'blue chip' producers are dead to normal humans in normal retail.

Thankfully, I still find joy in other names. But yes, there is a wide world of wine!

With the war in Ukraine and the Chinese economy languishing under the excesses of zero Covid and real estate debt, aren't asset markets of all kinds, including trophy wines, overdue for a correction? I can't see much enthusiasm from Russian oligarchs and Chinese billionaires in the near future and Europe's wealthy are likely to be almost as badly hit by the sanctions as the Russians.

[David M. Bueker]

There’s so much money out there, I really don’t see a meaningful correction in the cards.

I don't see a meaningful correction either, short of a worldwide depression. I'll probably never again buy Roumier, Mugnier, Mugneret-Gibourg, Lafarge, Angerville, Dujac, Ponsot.....wait, would be shorter to list those I can afford