|
Tasting Notes:
|
|
|
|
This tasting only serves to highlight just how great the 2004 Dom Pérignon is. A wine that has totally blossomed in bottle, the 2004 is firing on all cylinders right now. Rich, ample and beautifully nuanced, the 2004 has it all; expressive aromatics, deep fruit and more than enough structure to age well for decades. I have been tasting the 2004 since before it was released
and it just keeps getting better and better. Today, it is stunning. It is amazing to consider that in 2004, yields were the largest ever recorded in Champagne.
|
|
|
|
|
| Score: 97 |
Antonio Galloni, Vinousmedia.com, May 2014
|
|
|
|
|
|
The 2004 Dom Pérignon continues to develop beautifully. A vibrant, focused Champagne, the 2004 clearly reflects the personality of the year. Freshly cut flowers, white peaches and pears are woven together in a Champagne that impresses for its focus and energy. Chiselled saline note support the crystalline finish. I imagine the 2004 will always remain relatively bright and
linear, but at the same time, each time I have tasted it over the last two years the 2004 seems to have a little more body and broader shoulders. The 2004 will appeal most to readers who find the 2002 and 2003 too exuberant. There is a lot to like in the glass.
|
|
|
|
|
| Score: 96 |
Antonio Galloni, Vinousmedia.com, May 2013
|
|
The 2002 was rescored from 96 up to 98 pts 4 years after it was released. The 2004 has already been rescored after just one year.
It is interesting to note that Galloni decided to revisit the 2004 so soon after release, but clearly it was worthwhile. Such comments as ‘this tasting only serves to highlight just how great the 2004 is’ and ‘the 2004 is firing on all cylinders right now’ give strong suggestion that the 2004 is going to improve further over time.
Champagne Performance
The index for Champagne over the last 12-24 months has witnessed growth of over 10% and with the total share of market trade increasing year on year coupled with Asia’s growing thirst for the flagship brands, we expect Champagne to continue to be a consistent growth area of the market over the next decade.
Early focus from emergent Champagne collectors and drinkers in Hong Kong has naturally been on the top houses and we expect this to filter through to mainland China over the next few years. Japan is currently the most important market in Asia for Champagne with China quite some distance behind, but we expect a rapid convergence in the next few years as all the ingredients are in place driven by the demand
for acquiring luxury brands.
As you can clearly see from the above graph, the performance of champagne has been very stable with limited volatility, highlighting the region as a staple addition to a diverse portfolio within the market.
The table below highlights the top market movers over the past month and it is encouraging to see the Dom Perignon 2004 grouped with some of the on trend wines from Bordeaux, Burgundy and Tuscany. It is interesting to note that the recent upturn in price/demand has coincided with Galloni’s early rescore up to 97 pts from 96.
|
Wine/Vintage
|
12 Aug-14 Mid Price
|
Sep - 14 Mid Price
|
Mid move
|
|
DRC, Tache 2010
|
£19,051
|
£21,500
|
12.9%
|
| Latour 2006
|
£3,300
|
£3,550
|
7.6%
|
| Dom Pérignon 2004
|
£798
|
£850
|
6.5%
|
| Solaia 2010
|
£1,134
|
£1,200
|
5.8%
|
Dom Perignon under the Hammer
- A recent Christie’s auction saw a lot of 10 bottles of Dom Perignon 1982 sell for $4,560 on a pre-sale high estimate of $3,600.
- In another Christies Auction a 14 bottle Dom Perignon 90’s vertical collection was sold. The price achieved of $33,880 was 21% over the top estimate (HK$22,000 - HK$28,000).
Champagne vs FTSE 100
Taking a step away from the wine market, it seems an opportune time to draw comparison to the FTSE 100 that has stabilised of late. The graph below highlights the long term (10 year) performance of the Champagne 50 Index and the FTSE 100. The following findings are clear;
- Champagne has proved a better investment over the last 5 years.
- Champagne has proved less volatile.
- Champagne remains largely unaffected by wider economic downturn/uncertainty.
Vintage Comparison 2004 vs 2002
A quick look at the 5 year performance for the 2002 makes for encouraging viewing. Added to the stable growth rates, we can lean on speculation that the 2004 may yet eclipse the 2002 when rescored again by Galloni.
If we assume that the 2004 gets rescored again over the next 3-5 years and either reaches parity or eclipses the 2002 in score then the long term price highs of the vintages from the early to mid-90’s will leave 5 year growth rates of 80-100% more than realistic.
|
