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Seriously thinking of getting into this. How many of you have bought more exclusive futures before?
As an investment or for your collection?
Who wants to explain this to me?
I think the biggest difference is distribution and the price game. It isn't difficult to find some '05 Bordeaux from major estates like Ausone at any number of retail stores. It is difficult to find the 200-300 case production 'cult' Cali cabs that cater to wait lists. In the case of Bordeaux, futures buyers seem to be chasing the lower futures price vs. the full release price, while Cali people are chasing allocation. When you really look at it, many Cali producers aren't futures at all, just wait list.
Have not bought French ones. Heard many horror stories about them not being honoured. Usually seems that if you got too good of a deal, the seller wants to reneg. With West Coast wines though, off the top of my head, I've gotten Stefania, DuMol, Loring, Beaux Freres, and probably one or two others. Lower price than release or wholesale and ensures I get the allocation I want.
I think the biggest difference is distribution and the price game. It isn't difficult to find some '05 Bordeaux from major estates like Ausone at any number of retail stores. It is difficult to find the 200-300 case production 'cult' Cali cabs that cater to wait lists. In the case of Bordeaux, futures buyers seem to be chasing the lower futures price vs. the full release price, while Cali people are chasing allocation. When you really look at it, many Cali producers aren't futures at all, just wait list.
another issue is that in times of economic difficulties, the wine company may not be around to honor the agreement when it matures. quite a few people got screwed when Carolina Wine Company suddenly went belly up with no warning, and are now faced with getting pennies on the dollar (at best) in bankruptcy court
I have to respectfully disagree. For instance, my recent Stefania futures. I could have waited until release and still gotten my allocation, only I would be paying $X per bottle. By purchasing the futures I was offered, I paid $X-Y. The only time you might not get your full allocation is if you waited until the end of the buying window to purchase. Most of the West Coast guys only allocate what they know they can cover plus substantial in reserve.