I’ve been bemoaning the high prices of Bordeaux wines for a good while now, that’s been clear. It seems though, that the auction markets have finally slowed, and prices have fallen slightly more in line. Bloomberg recently reported that Chateau Lafite prices have slid 25%. The Wall Street Journal also mentioned that Lafite 2011’s prices have dropped 18%. 2011 was an off-vintage to be sure, but nothing to sneeze at.
It seems Asian buyers are moving toward other regions to find collectible wines. I still don’t quite know if the bubble has burst, or just shifted. It doesn’t seem like an issue that will come to light overnight, but something that will evolve over the next decade or so. I’ll keep drinking my secret labels, thank you very much.