Yquem, Cheval ‘tricky’ to sell?
June 20, 2008
Sophie Kevany in Bordeaux
Chateau d’Yquem and Cheval Blanc are on the market with mixed messages from the trade as to their saleability.
Yquem was released yesterday at €330 euro ex-chateau, up about 9% on the €300 ex-chateau price for 2006.
Cheval Blanc 2007, released earlier this week at €320 ex-chateau, was down about 25% from €400 for the 2006, with no recommended resale price.
‘Yquem is the best wine of 2007. I have sold out, and if I had another 1,000 bottles of Pétrus I would sell those too,’ said negociant Jean-Luc Thunevin, adding that demand for Yquem was mainly from Europe.
Prices for Pétrus are not widely available to merchants, but Thunevin estimated it was selling for about €330 to merchants, and about €700 to clients, a probable decrease of 30% on 2006.
While Thunevin is upbeat, other professionals are not so sanguine, with some reporting Yquem was only selling below its recommended resale price of €390.
Bordeaux based negociant Jeffrey Davies, who works closely with the US market, said Yquem was a tricky sell. ‘In the US Yquem will be upwards of US$700 per bottle, for something that they won’t get for three years and shouldn’t drink for 20,’ he said.
‘Demand for Yquem started well yesterday morning but then tailed off, as it seemed other negociants were offering it at €360 or €365,’ said Philippe Larché of Vintexnégociants.
A merchant, who did not wish to be named, claimed that people were already selling Yquem at the ex-château price, so as not to get landed with stocks.
Another senior source who also did not wish to be named described Yquem and Cheval Blanc as ‘a horrible sell.’
‘This may be the first time that a first growth many not be able to allocate all its wine.’
Decanter gave Cheval Blanc 17/20, while Robert Parker’s Wine Advocate awarded it 88-91 points - relatively mediocre considering the price tag.
Decanter gave Yquem 19/20, and Wine Advocate gave it one of the highest scores of the vintage: 96-98 points.
As follows is a capture of what the foreign reviewers wrote about the above 2 trophy labels, published for the benefit of non-subscribers and our readers.
Source & Credits: Decanter (UK).
2007 Château d’Yquem
France, Bordeaux, Sauternes
Neal Martin Wine Advocate Issue #176 April 2008 (96-98): A sample blend excluding the 7th passage (80% of the blending). The Yquem ‘07 was cropped at 18hl/ha, reportedly similar to the 1967 in the middle of the harvest and 188 towards the later picking. This has a very concentrated nose although it is less showy at the moment. But there is tremendous power here, touches of marmalade, honey, peach and orange zest. Superb delineation. The palate is striking but its sense of urgency and nervosité, real vibrancy in the mouth even at this early stage. Pure clear honey, a touch of spice, orange cut marmalade and supreme focus on the almost Zen-like finish that will be bolstered with the later tries are added. Lovely touch of quince paste and dried lychee on the finish, which has 130gms/L residual. Superb Yquem, though not in the class of the ‘01. Drink 2012-2050.
James Suckling Wine Spectator (97-100): This is amazing. Full of spicy botrytis character, with smoke and piecrust underneath. Full and rich, yet not cloying or too dense. It’s lively and long, finishing with intensity and powerl. A unnerving combination of wild ripe fruit and intense botrytis, with lively acidity. Really powerful. Should be a perfect wine.
Jancis Robinson (19): Deep golden with an orange tinge. Very tangy. And thick. At the same time. Massive weight! Extraordinary fullness. An edge of something a bit corrective - almost bitter. Very big and hits you between eyeballs. Citrus pith. Needs to settle down and become more gentle. Big and round. Almost over the top. So rich!!!!! But definite bitterness on the finish. Winemaker Sandrine Garbay, who has been there an incredible 14 years, thinks the 2001 has more finesse. I agree.
David Peppercorn MW Decanter (19): Very aromatic and unctuous with a lovely point of freshness coming through at the end. On the palate there is a great concentration and richness (130g residual sugar in this sample). Very unctuous yet complex and fresh. A touch of alcohol shows through on the finish but these are early days and this is only a marker for the finished article. This will be one of the great Yquem vintages, though on the day Climens was even more impressive.
2007 Château Cheval Blanc
France, Bordeaux, Libournais, St. Émilion Grand Cru
Neal Martin May 2008 Wine Journal (93-95): The Cheval Blanc has a deep garnet/purple colour. The nose is reticent at first, it definitely needs time so wait 3 minutes and it unfurls some attractive earthy aromas with tobacco becoming ever-stronger with time. The palate is very intense, superb acidity and what I really like about this year’s Cheval is the tension in the wine (a while since I mentioned that at en primeur.) This Cheval Blanc has a sense of urgency that I adore. Very well defined on the finish – masculine, almost Cabernet Sauvignon in quality but I think this is one of the few 2007’s with long-term potential. Great wine.
James Suckling Wine Spectator (99-93): Has gorgeous aromas already, with plum, sweet tobacco, violet and a little coffee. Medium-bodied, with ultrafine tannins and a long finish. This is 30 percent of the harvest. 60 percent Cabernet Franc and 40 percent Merlot.
Jancis Robinson (18): 55% Cabernet Franc, 45% Merlot. Selection of the grand vin was limited by the amount of good Merlot available. They made only one third of the usual volume. Quite a long harvest. They usually pick early but had to wait to get full ripeness. More complex than Petit Cheval and lovely freshness and minerality but the difference between Petit Cheval and Cheval Blanc seems much less than in some more dramatically successful years. Cool and calm. Malted milk. Maybe not really really dramatic. Quality of the fruit of 2004 but with softer tannins. So mellow! From 1998, Cheval have made significant amounts of a third wine which they bottle and sell within LVMH companies. I’d like to taste it. Drink 2013-21.
James Lawther MW Decanter (19): The trademark elegance is there in the bouquet which shows a poise and freshness of fruit (55% Cabernet Franc in the blend). The palate also shows smoothness and suavity of texture with a crisp tannic edge but the finish is just a little less polished than the rest. Drink 2013-2020.