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EP2024 by Clinton Ang: My 28th Campaign: Challenging Conditions but Better than Expected?
Is it a BUY? Chateau Pavie 2017 Market BEST offer - 55% below EP etc
Its EP2024 half-time and days before Vinexpo Singapore so perfect time to share
For those who followed my sharing during EP2021 to EP2023 campaign to slow down buying, they saved themselves 30-50% drop in value
- Industry colleagues who pushed to sell had to sell to keep allocations and revenue but NOT us
- We have a belief in the NEXT purchase effect meaning we rather show our value and ethics to NOT
sell, prevent a loss, and create loyalty for future purchase, that’s how we last 87 years
EP 2024 - Better than expected?
Back from 3 weeks in Bordeaux, visited and tasted almost every Chateau, I can safely say challenging conditions put a CAP on how good the vintage can be
Unlike in 1964, 74, 84, 94 etc, tech advancement, utmost effort in the vineyard, money, and luck of timing allowed better than expected wines to be made through utmost stringent sorting, and reduction of yields.
The greatest wines they are NOT, but decent drinking wines…
Albeit, many were over-extracted with a dry finish, imbalance of acidity, too “soft and approachable”
From a homogeneous standpoint, I rated the regions of St Estephe, St Emilion the best but wait for the Quality Price ratio assessment
Dad always said – in a tough year, buy only the best. If reds are challenging usually means whites are great
He was right for 2024, whites were exceptional but due to limited nos of Bordeaux GCC whites, prices were also exceptional hence value likely better found elsewhere
Critic Scoring?
Offers interchangeably use highest scores from diff critics to emphasize quality but through years of tasting, comparing critic scores, we know they are human and their bandwidth of scoring varies greatly from one to another. They are human and are somewhat subjective?
Track your most trusted critic and follow that, albeit YOU are your most trusted critic
Release Prices?
Merchant offers focus on drops of 30% to entice but fail to share that recent years price increases have been exorbitant, and not market oriented
Bordeaux is not alone – champagne, burgundy, piedmont have done the same
Viability of an offer has to be looked at holistically, at the prices of their past vintages vs ratings vs peer Chateaus
Too many of the current releases are still too expensive when compared with past vintages still avail on the market, and better rated – sense or sensibility?
Unless there is a special reason to buy 2024(child’s birth year etc), there are only max 8 wines to buy
Counterparty RISK:
Buying futures is a min 2 year RISK. If fulfillment is not done, all you have is a piece of paper(many scams have happened in the past, albeit some tried but could not survive, still avoidable risk?)
The ALCOHOL world is in a challenging state - falling demand due to less disposable income(higher interest etc), mounting debt with higher interest, overhanging inventory and outlet closures.
For 1st time ever, we ask for bank guarantees from smaller to mid-size negos
This translates to consumers ensuring they best avoid smallish companies or overselling companies with no asset backup, else ask for BG(worst case, you can hang the defunct piece of EP contract on your wall)
My highest rated wines for the VINTAGE:
St Estephe - Cos, Montrose
Pauillac - Clerc Milon
St Julien - Leoville Barton
Margaux - Margaux, Brane Cantenac
Pessac - Carmes Haut Brion
St Emilion - Figeac
Pomerol - Eglise Clinet
When assessing Brand Quality Price Ratio:
UNDOUBTELY, there is only 2 that's ranks at the top, that's Lafite & Carruades - released at market lowest price across all vintages, whilst not highest rated, from an En Primeur standpoint to have best chance to GAINING in excess of 10% by time its physical in 2 years, I am buying BIG...
We are releasing primeur basis:
Lafite in OWC cases of 6 x 750ml - sgd$2970(495 per bottle)
Carruades in OWC cases of 6 x 750ml – sgd$1218(203 per bottle)
Special mention goes to Les Carmes Haut Brion & Brane Cantenac, where I witnessed an absolute transformation in past decade. Their wines now rival the best in Pessac, Margaux and overall.
Les Carmes Haut Brion has released at reasonable price, I am buying as usual for the last 10 years
Brane Cantenac has yet to release
am happy for Margaux which is one of my best tasted for 2024, having not enjoyed the releases of the past few years, and missing old friend Paul Pontailler(yet to release)
Super Price brand quality price ratio value for everyday enjoyment – Clerc Milon & Duhart Milon
Again, I share that my assessment is subjective, YOU are your most important barometer BUT from historical purchases so far since my 1st campaign in 1997, we have been blessed to outperform
Our Relationship Managers are on hand to answer any queries.
In Your Service with 87 years of commitment,
Clinton Ang, on behalf of the team at CornerStone
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