Collectors preference for library wines means more on the shelves in the future
Library wines have become fashionable with collectors, so expect to see more of them on the shelves, writes Robin Lynam
Now that buying wines en primeur is no longer de rigueur, it seems that "museum release", "late release" or "library" wines are coming into fashion with collectors.
As asking prices have risen, the practice of buying Bordeaux, in particular, en primeur - that is to say investing in the wine before it is bottled, dealing either directly with the estate or using the services of a well connected wine merchant - has come to be perceived as risky.
Secondary market prices when the vintage is released can be lower then the en primeur cost. Wines which have been kept by the producers long enough to show some form, however, are seen as a safer, if more expensive, bet. Some of these are sold as "library wines" by the producers long after the vintage is released.
Altaya Wines supplies library wines from some of the most prestigious names in France and Italy, including Salon and Pol Roger champagnes, DRC, and Gaja. Older vintages command a substantial premium.
"Ultimately, the value of old and rare wines comes down to supply and demand," says James Rowell, Altaya's corporate & VIP sales manager.
"Each one of these wines represents a unique combination of place, producer and vintage which can never be reproduced in the same way. There are significant numbers of connoisseurs, trophy hunters and those who wish to impress who have both the desire and the ability to buy or consume these bottles," says Rowell.
"At the risk of stating the obvious, each time a cork is pulled and a bottle consumed there is one less bottle in existence, and both the rarity status and price are bound to rise."