Jean Luc Thunevin at the 2010 Hong Kong International Wine and Spirits Convention
The more things change, the more things stay the same, especially when it comes to Bordeaux Wine in China…
One other problem remains before China begins to demand and receive serious allocations of Bordeaux wine. They will need to buy Bordeaux wine futures. The hard truth is, as of today, very little wines are bought as futures in China. The concept of paying for wine 2-3 years before it’s delivered remains stubbornly difficult to overcome.
“Americans would never develop a palate. They would only buy the top wines like First Growths. Even then, American’s would not drink the wines. Instead, they will invest and sell what they purchase.” Do those remarks sound familiar? They should. Those comments are exactly what many American’s say about Chinese wine buyers today.
It is my view that from 1982 to 2006, America was the number one purchaser of all the top Bordeaux wine from the best vintages during that time period. If there were not enough wines allocated to satisfy America’s hunger for great Bordeaux wine, they purchased as much as possible from Londond, Switzerland and other countries that would sell to them. Due to the loss of the dollars purchasing power, bulging cellars and a weak economy, America is no longer seen as the top buyer of the best Bordeaux wines.