▻ Omnibus Eighteenth Edition
Episode Eighteen – sponsored by D.O. Rueda
(click here for some amazing facts on this fascinating region)
Episode Summary:-
Arrests, floods, Napa Valley controversy, is English still wine good enough to serve at the palace? As we close out the year, Omnibus 18 takes a look at the stories which are making the headlines in the wine world. John Stimpfig reports on the results from the Hospice de Beaune auction in Burgundy, which has just taken place. The auction raised 31 million euros, double the amount tallied last year. John reflects on the reasons why this year was such a resounding success, and believes it was down to a few key factors: Sotheby’s injected a great deal of energy into the auction; the increase in the number of lots offered due to the 2022 vintage producing higher yields; and the enormous amount raised (800,000 euros) for the President’s lot, which was in honour of the late Louis-Fabrice Latour who died far too young earlier this year.
The demand for top-class Burgundy has been the leading fine-wine story of the last ten years. Burgundy claims over 30 spots in the Liv-Ex Top 100 Brands, and 7 of the top 10 slots. All of this is at the expense of Bordeaux. Will it last? John cautions that there are signs of the market softening as economic headwinds affect buyers. Over in Italy, the Consorzio di Tutela Barolo Barberesco Alba Langhe e Dogliani held an auction with Christie’s that raised over 800,000 euros, a major increase over their first year. John reveals that they are considering setting up a barrel En Primeur tasting in 2024, which will bring huge attention to the region.
Then, as we note, it’s hard to record an episode of Omnibus without mentioning the weather. Extreme weather conditions have affected the 2023 harvest in Australia and Argentina. New South Wales, Victoria, and Tasmania have seen severe floods, with some reports of water rising over the tops of vineyard posts; downy mildew is running riot, and a significant proportion of the crop has been lost. In Argentina, a severe frost affected parts of the Uco Valley and Southern Patagonia: early reports say that a third of the yield could be lost in these areas.
In the UK, King Charles III held his first state banquet, for the Prime Minister of South Africa. A sparkling wine from Ridgeview, in East Sussex, was served, but the other wines were French, causing some people to question why the United Kingdom’s still wines weren’t being served. Sarah Kemp and John Stimpfig debate the issue, and ask, “are the still wines ready to be put on the King’s table?”
““Experimenting isn’t just for the winemakers, it’s for us too. It’s for people who are consumers. We all need to be adventurous, because the 21st century is the century of being adventurous in wine.” ”
Over in the US, Elin McCoy reports on the sale of Seven Stones, a boutique winery close to Meadowood in the Napa Valley, a transaction that’s newsworthy because it is the second winery in the Napa Valley sold to a South Korean conglomerate in the past couple of years (the first being Shafer). “I think it is very interesting that South Koreans are becoming bigger players in the Napa Valley, and the wine world altogether,“ Elin says. She and Sarah also pay tribute to one of Napa’s trail-blazers, Margaret Duckhorn, who co-founded Duckhorn Winery, and recently died. They discuss her life and how she became one of Napa’s greatest ambassadors. Then, on the other hand, they report on someone who has not become one of Napa’s greatest ambassadors: Tuck Beckstoffer, son of Andy Beckstoffer, who owns some of the Napa Valley’s finest vineyards. Tuck Beckstoffer has been ordered to pay back US$5.1 million to his partners at Amulet Estate, previously called Tuck Beckstoffer Wines and Dancing Hares Vineyard. Beckstoffer’s business partners filed a lawsuit against him for misusing company funds for personal use, including private planes, guns and fly-fishing trips. Also in the news for the wrong reasons is WINC wine club, which has filed for bankruptcy, leaving thousands of creditors in the lurch. Elin was not impressed with the company, which used algorithms to predict customers’ preferences.
Still in the Napa Valley, Elin reports on the long-running battles over who gets to develop vineyards in America’s most iconic region, and how that development should be done. She comments on two cases on Atlas Peak: Walt Ranch, owned by Kathryn Hall, and Acumen Wines. Elin discusses the environmental issues at stake, declaring, “Napa is at an environmental crossroads in what the future is going to look like.”
Elsewhere in California, an increasing number of wineries are planting grape varieties that many people have never heard of. Elin reports on how grape varieties which had been abandoned in the past, as they did not ripen early enough, are now exactly what producers are looking for as they face climate change. Many of these obscure or mostly unknown varieties hold onto their acidity and are able to survive droughts, ideal attributes for the future. At Tablas Creek in Paso Robles, for example, they are bottling Counoise, a dark-skinned variety used in the production of blended Rhone wines, as a single varietal. Elin is encouraged by this trend, and says, “Experimenting isn’t just for winemakers, it’s for us too. It’s for people who are consumers. We all need to be adventurous, because the 21st century is the century of being adventurous in wine.”
Elin rounds up her report with comments on some new releases: Dom Perignon 2013, and 2004 Dom Perignon Plénitude 2, both of which she recommends highly, and the first new wine from Château Lafite in over 100 years, called Anseillan. The wine is made from a plot on the eastern side of the estate closer to the Gironde. The first vintage is 2018, the year the estate was celebrating its 150th anniversary under Rothschild ownership and is a blend of 48% Merlot, 39% Cabernet Sauvignon and 13% Petit Verdot. Elin is impressed that it is priced at under US$100, allowing more consumers to enjoy some of the Lafite magic.
Running Order:-
-
0.00 – 24.04
“In late November it was called a major emergency in South Australia.” – John Stimpfig
– Burgundy’s Hospice de Beaune’s auction sets a record.
– The Burgundy fine wine market – is it softening?
– Consorzio di Tutela Barolo Barbaresco Alba Langhe e Dogliani auction.
– Extreme weather in Australia and Argentina affecting the 2023 vintage.
– Should English still wine be served at State Banquets? -
24.05 – 41.00
“The Napa Valley has been--at least in the past two to three decades--a hotbed of controversy over development.” – Elin McCoy
– Sale of Seven Stones vineyard to a South Korean conglomerate.
– Elin and Sarah pay tribute to Margaret Duckhorn, who died recently.
– Arrest of Tuck Beckstoffer.
– The collapse of wine club WINC.
– Controversial development updates on Atlas Peak. -
41.01 – 01.00
“There are an increasing number of wines from grape varieties no one has ever heard of.”— – Elin McCoy
– Revival of old, often obscure grape varieties in face of climate change.
– Dom Perignon’s latest releases.
– Château Lafite’s new wine, Anseillan.
From how vintners are coping in the Bekaa Valley to the major winery sales, one worth 1.95 billion US dollars - there is much to discuss. Find out how you can buy a little part of Burgundy history (road signs are coming up for auction), check our weather watch and harvest reports and much, much more. Brought to you by our Founder Sponsor Santa Rita Estates.