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Given the price at which Farr is quoting the 2006 Vesuvio, I fear that the 2006 wines may be very slow to sell. It seems extraordinary to increase the price again for a vintage that is known to be "ordinary".

The Vesuvio first release prices have increased considerably over the years. My records show the following pattern:

1989 - £25 duty paid, equivalent to about £19 in bond
1990 - £20 in bond
1991 - £21.50 duty paid, equivalent to about £16 in bond
1992 - £25 in bond
1994 - £24.66 in bond
1995 - £23.50 in bond
1996 - £24.50 in bond
1997 - £29.50 in bond
1998 - £25.75 in bond
1999 - £24.95 in bond
2000 - £29.00 in bond
2001 - £32.37 in bond
2003 - £29.00 in bond
2004 - £24.00 in bond
2005 - £27.50 in bond

2006 Farr's prices is £31-32 per bottle, in bond.

Then contrast these prices with the current wine-searcher low prices for these wines - I have given the equivalent of an "in bond price" so that you can compare directly.
1989 - £28
1990 - £28
1991 - £28
1992 - £25
1994 - £37
1995 - £21
1996 - £22
1997 - £23
1998 - £27
1999 - £25
2000 - £24
2001 - £31
2003 - £30
2004 - £28
2005 - £25

No messages or judgements from me, just some hard facts for people to use as they wish when they come to buy or not buy wines from the 2006 vintage.

Alex

Here is a judgement from me.

The planned £31-32 release price for 2006 is, in my view, ridiculous. Three or four weeks ago I paid £20 per bottle for a case of Vesuvio 1997 from a well known UK retailer. That price included Duty, which puts those bottles at <£18 on a comparitive basis to In Bond wines. I also purchased 2 cases of the 1996 for even less, although this was through an auction so perhaps that comparison isn't too relevant.

Although I have not tasted the 2006 I would lay a hefty bet now that it is nowhere near as good as the Vesuvio 1997. If retailers plan to ask me to pay 77% more to buy a V06 compared to the price that I just paid for a superior wine that already has 9 years of bottle age on it then they have a very hard sell on their hands.

Wait for the second time around offers... I am can't imagine buying a 2000+ port right now...

One of the great mantras of business is that 'money goes to money', and when that money is invested in something bulky, that needs special storage, the costs of that storage can weigh heavily as well.

So what should 2006 Vesuvio sell for at this stage?

My initial take is that this is probably a reasonable wine, but possibly their weakest declared wine of the decade to date. In another decade it might reasonably command a retail price of £20 (plus inflation from now), indicating a trade price of about £13.

Take off bulk storage costs, and we are down to around £10. Take off capital appreciation, and we are looking, at most, at £7/bottle.

So, £72 + VAT per dozen, duty paid

Tom