2016 Barolo and Barbaresco - what have you bought?

My last note, just over a year ago...

Brovia, Barolo 2004
Translucent dark damson red with orange tones at the edge. Gorgeous nose - briar and woodsmoke, tobacco, dried herbs, orange peel & brioche. Tarry black fruit. Really lush and deep. Not much in the way of high tones, but it’s all so lovely now that they’re not missed (& will come in time). Palate still has mid-weight fine-textured tannins, lovely integrating texture, peppery red & black fruit, great length & balance. Still has juicy fruit, plenty of acid balance.

This note is pretty similar to the one before, which was 18 months earlier so it’s behaving as Barolo should and evolving slowly.

Soooo, I think this is very attractive now but if you like mature traditional Barolo it will be significantly better in 5-10 years.

Hope this is helpful.

Many thanks, Andy. Most helpful.
 
Very nice Alex.

Returning the thread back to Piedmont, I see that the excellent Walter Speller (the sole reason I take a JR subscription) has relayed producers views on the 2020 vintage and generally on the issues of the day.

It seems that despite a great start to 2020 (2016 sales) by March the US market came to a screeching halt. He also mentions that the price of Nebbiolo certified to become Barolo had crashed to EUR2.40.

Overall impression from reading it is that things are not too bad generally in Piedmont and that the vintage is potentially very decent although heterogeneous.
 
Very nice Alex.

Returning the thread back to Piedmont, I see that the excellent Walter Speller (the sole reason I take a JR subscription) has relayed producers views on the 2020 vintage and generally on the issues of the day.

It seems that despite a great start to 2020 (2016 sales) by March the US market came to a screeching halt. He also mentions that the price of Nebbiolo certified to become Barolo had crashed to EUR2.40.

Overall impression from reading it is that things are not too bad generally in Piedmont and that the vintage is potentially very decent although heterogeneous.
The “Trump Tax” was indeed a big worry for several producers, as was Brexit. One in particular seemed very worried about both these events, although I did tell him I would gladly help him out and buy much more :D (then he received two 100-point scores from Galloni and could easilly have sold out five times over).

Good to hear about 2020, I have just made a (very) early request for a large format of a particular wine as it is my second sons birth year. His brother (2019) might end up with the better wine but sure they will both be great.

Back to purchases - I resisted some Chiara Boschis Via Nuova ‘16 slightly below market (but 1/3 above release) today but succumbed to Cogno Vigna Elena ‘14 (which sounds like it might be wine of the vintage).
 
The “Trump Tax” was indeed a big worry for several producers, as was Brexit. One in particular seemed very worried about both these events, although I did tell him I would gladly help him out and buy much more :D (then he received two 100-point scores from Galloni and could easilly have sold out five times over).
??? The Trump tariff only applies to French, German, and Spanish wines, not to Italian ones. If anything, it has boosted Italian imports to the US vs. those other countries.
 
@Claude Kolm - maybe notwithstanding scope of Trump tax, US demand collapsed in the Spring because of Covid? Anecdotally the Americans I know are crazy about Piedmont yet they usually buy in smaller volumes than we do, but just many more of them buying (usually). Walter Speller would not have put it in his report without research and a consensus of opinion so it is a curious one, especially as 2016 vintage was still selling like hot cakes. Leaves quite a few questions unanswered and maybe worth putting to him on HRH forum.
 
@Claude Kolm - maybe notwithstanding scope of Trump tax, US demand collapsed in the Spring because of Covid? Anecdotally the Americans I know are crazy about Piedmont yet they usually buy in smaller volumes than we do, but just many more of them buying (usually). Walter Speller would not have put it in his report without research and a consensus of opinion so it is a curious one, especially as 2016 vintage was still selling like hot cakes. Leaves quite a few questions unanswered and maybe worth putting to him on HRH forum.
Graeme -- Obviously restaurant buying ceased due to substantial periods of lockdown, especially in prime markets such as NYC and SF, but there's been much enthusiasm for 2016 here among individuals and I get multiple offers for them on a daily basis.
 
Yes, merchants have had no issue selling 2016s in the US. I too was surprised by that remark in his report and can only assume it refers to the temporary pause in shipping that occurred in the early days of Covid in the spring of 2020. I can assure you that private collectors in the US are buying just as much - probably more - wine than ever and retail had a bumper year last year.
 
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I opened this Pira Chiara Boschis yesterday. I went to a tasting a few years back, and one could see the evolution and pulling back of new oak, the wines much better for it. This is still a little too slick for my tastes: but, ultimately, irrespective of that I find it just a bit boring. I’m glad to have tried it, recommended by a local wine shop, but won’t be rushing out to buy any more.
 
I've tried both 2016 Cannubi and VN (via 67PM tasting) and own some of both. I didn't love VN although it's now worth a lot more than I paid so no regrets there. Cannubi I enjoyed quite a bit, although some won't as it's notably oaky.
 
Still some confusion there, Oliver, as the tariff went into effect in late 2019 and had been announced well before.
You are quite right Claude, now I recall a bit more that he was concerned about additional tariffs but thankful nothing had been implemented for Italian wine. In general we both found the conversation rather funny when we met again in September - how little we knew about the COVID disruption that was shortly to start back then.

@Graeme Harvie - I am not close at all to the US market, but from online activity from our cousins over the pond, I haven’t seen much slowing down. My feeling is that the interest and involvement in Piedmont has a lot higher in the US for longer, compared to it being a niche interest here even only 10 years ago. There are many American collectors who will have filled their boots far more than we have.
 
Had a couple of emails about the PdB crus boxes today at £460-£470 ib. Haven’t bitten on account I’ve spent enough already. Haven’t bought the box before but seems like a price increase from previous vintages I’ve looked at
 
Had a couple of emails about the PdB crus boxes today at £460-£470 ib. Haven’t bitten on account I’ve spent enough already. Haven’t bought the box before but seems like a price increase from previous vintages I’ve looked at

Well done on holding your nerve Simon!

I did bite today - have been waiting on these and also a birth year for us, so I caved quickly...

Definitely a big step up in price though - I think this case has been around 360 in previous vintages (£40pb ib) but today's offer was 460. However it looks like the better back vintages are available around this level, so looks like they may have decided to price to the market value of strong vintages. I paid 360 for 2013 but cannot see it around for less than 460.
 
I've recently started making a dent in my 2007 PdB crus box, which cost £250ib for which you got thrown in not just the 9 riservas, but a bottle each of the barbaresco normale from 2005, 2006 and 2007. The days of these wines being reasonably priced has long gone, but if the current levels are justified by the market etc then I suppose that's the way it is.
 
I've recently started making a dent in my 2007 PdB crus box, which cost £250ib for which you got thrown in not just the 9 riservas, but a bottle each of the barbaresco normale from 2005, 2006 and 2007. The days of these wines being reasonably priced has long gone, but if the current levels are justified by the market etc then I suppose that's the way it is.
Are they not still reasonably priced given the quality in relation to other producers?
 
Are they not still reasonably priced given the quality in relation to other producers?
great question Gareth. Merchants are asking more than £500ib for the 2016 cru collectors' case of 9 bottles, ie £70/btl by the time it gets to your table. Cheaper than the celebrity Barbaresco producers but a lot more than others. for example, more than two and a half times the cost of a Ca'Nova. No doubt the PdB is better, but that's quite a premium. 2016-fever accounts for some of the disparity; less heralded vintages of PdB are more sensibly priced. but perhaps the days of regarding PdB as a good value producer are slipping away?
 
Are they not still reasonably priced given the quality in relation to other producers?

I think if people can stand back and look at the prices objectively they are relative bargains rather than keeping in mind previous prices. Same argument re Vajra wines as I note that one or two find them too expensive these days which is clearly a view coloured by a yearning for very attractive past prices rather than relative quality.
 
great question Gareth. Merchants are asking more than £500ib for the 2016 cru collectors' case of 9 bottles, ie £70/btl by the time it gets to your table. Cheaper than the celebrity Barbaresco producers but a lot more than others. for example, more than two and a half times the cost of a Ca'Nova. No doubt the PdB is better, but that's quite a premium. 2016-fever accounts for some of the disparity; less heralded vintages of PdB are more sensibly priced. but perhaps the days of regarding PdB as a good value producer are slipping away?
Is that not just speculation? I cannot see any 2016 for sale anywhere. I'd still expect them to come out around £50-55 all in a bottle. If not I'll pick some up in Italy again and collect them in Calais as I'm sure they'll be £40-45 over there!
 
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