In virtually every offer we have made on the 2020 red Burgundies, we have included our monologue about how special a moment it is for Burgundy fans. It’s something of a harmonic convergence of a number of factors that have created what we see as one of the most opportune buying windows we have ever scene for this difficult-to-play category. We’ll synopsize as best we can.
First, global warming has raised the bar for a lot of so-called lesser Burgundy appellations from a historic perspective. Prices in the region have been established over decades (centuries?) based on the consistent performances of certain villages. Conversely, those villages that haven’t been able to be as dependable because their climate is more marginal have an upper limit on what they can charge for their wines. Global warming has added a couple degrees of ripeness to those marginal Burgundy regions (Marsannay, Mercurey, Givry, for example) and created far more consistent, engaging and successful harvests while the prices have been slow to adjust upward.
The 2020 vintage was a flashpoint as a warm, ripe harvest combined with an abnormally short crop (also thanks to the quirky weather patterns brought on by global warming, but that’s a much more complicated explanation) has created a crop of rich, deeply colored, well endowed red Burgundies the likes of which we can’t recall. The 2019 vintage was also extremely successful and there are a few bits of that vintage still around.
Even though the crop loads have been lighter, most producers have thus far mainly kept prices relatively reasonable. The situation has also been aided (to an extent) by an extremely attractive, historically low exchange rate with the eruo vis-à-vis the U.S. Dollar. To summarize, you’ve got one of the best vintages we have ever seen on the market at a time when the prices are based on the most opportune exchange rate.
Looking forward, the 2021 vintage was an even shorter crop and, according to most accounts, not particularly special. Given the extreme shortages, to put it bluntly, prices will rise even without additional help from a declining exchange rate or a highly collectable vintage. Any additional negative ‘money’ moves will only augment the problem. So you will effectively be asked to pay more for lesser wines with the 2021s. Thus far 2022, the vintage, looks positive, but also vulnerable to yet another round of price increases.
Right now, Burgundy lovers, you are in the perfect window…a broad selection of viable wines from a historic vintage at some of the best prices relatively. To be sure, things are starting to change. Some of those ‘lesser’ appellations are edging up pricewise in this extremely successful vintage. But the prices for what’s in the bottle in most cases are still at a relatively good value point for the category. In other words, you may never have the opportunity to get Burgundy this good for this kind of money in the foreseeable future.
We keep to the message not because we’re like those nagging ‘aunts’ on that TV insurance commercial (“expired…expired”), but because it’s the truth. Sure, there will be people that will ‘opt out’ if Burgundy gets too crazy. The recent spate of good vintages and relative affordability, however, have reminded us how much we love Burgundy. Maybe you’ve felt that, too.
There have been long stretches over the years with Burgundy where either the vintage or the price (or both) have not been particularly accommodating. The last couple of years have been really fun. But as we know with Mother Nature, nothing lasts forever. This is a rare, special moment where Burgundy aficionados have an advantage. It’s our job to point that out (even if it might sound a little naggy). But this too will pass and these times will become the ‘good old days of yore’. Stock lists below, good hunting!