New Port Bond from the Symingtons

[domfwc]

Hi all,

So what do you think of this?

http://www.thedrinksbusiness.com/2015/0 ... eme-in-uk/

It is a Port Bond for people wishing to gift vintage Port in the year that it is harvested rather than wait until it is launched in the traditional manner.

The bond will retail for about £390 and entitles the bearer to 6 bottles of Grahams VP, 12 bottles Malvedos if the vintage is not declared or a refund if no Port made in that vintage!

I can think of quite a few drawbacks here, it doesn't seem as if it has quite been thought through properly.

Cheers,

Dominic

[Andy Velebil]

I do believe this has already been discussed. Jdaw, can you find the link please.

[PhilW]

There was a short discussion in this thread last year when there was an earlier announcement; Personally I think it is a good idea. I would add two suggestions for further improvement, mostly to make it even simpler for the consumer (and hence make the decision to go ahead and purchase simpler):
1. That cases (or half-cases) purchased in this manner should be available in improved "presentation" case (as used for Vesuvio 6-packs currently), and
2. To provide the option of cashing in the certificate after 18 or 21yrs, rather than at 18-24months.
Clearly the latter would be more expensive, and would need to take into account storage costs, but I think that people who do not have cellars or wine collections already would value knowing that in 18 years time your child would receive bottles of perfectly-stored port, all taken care of by initial purchase, and would come smartly packaged to be presented.

[domfwc]

I did a quick search but didn't find anything, didn't look hard enough. Sorry.

[DRT]

2. To provide the option of cashing in the certificate after 18 or 21yrs, rather than at 18-24months.

I think this problem is best left to the professionals in the wine storage trade. The shippers have a very long history of selling wine through agents and not keeping stocks for private customers. The processes and control mechanisms required to keep track of this stuff, especially if the venture takes off, is not something the shippers currently do and it is likely to be something that would cause them difficulties in the long term. Sell it and punt it to BBR, Octavian, LCB, Seckfords, etc and let them do the bit they are good at. A secondary reason is that VNG is not the optimum place to store Vintage Port due to seasonal and daily temperature fluctuations.

[PhilW]

2. To provide the option of cashing in the certificate after 18 or 21yrs, rather than at 18-24months.

I think this problem is best left to the professionals in the wine storage trade. The shippers have a very long history of selling wine through agents and not keeping stocks for private customers. The processes and control mechanisms required to keep track of this stuff, especially if the venture takes off, is not something the shippers currently do and it is likely to be something that would cause them difficulties in the long term. Sell it and punt it to BBR, Octavian, LCB, Seckfords, etc and let them do the bit they are good at. A secondary reason is that VNG is not the optimum place to store Vintage Port due to seasonal and daily temperature fluctuations.

I was thinking that it would be done in partnership with one of the storage professionals you mention. For example, the G52SHT was made available by special arrangement with Berry Bros; I would have thought that this would be exactly the kind of venture for which Symingtons and Berry Bros (as an example) could partner. Symingtons could then still sell the bond as currently, but also sell the bond directly and/or through BBR to include storage at BBR cellars from release to 18th birthday.