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Anyone going for '03 Sauternes futures?

I cannot help but ask... After making my first futures purchase ever on some '01 Sauternes/Barsacs and seeing the prices rise dramatically (most notably Climens), I am curious about whether or not to get into the '03 futures market while on the first tranche. It looks like the sweeties from this vintage are being met with pretty high praise from many sources. Are people buying? Is it wise this time around?

I know that it is all speculative but I would like to draw a little information from those that may have seen these types of "situations" in the past.

Thanks so much, jason

Reply to
Jaybert41
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Jason,

It depends on where you live and what the availability will be like after the wine actually is released. In Alabma, we get such limited quantities that if you didn't buy on futures you would probably be out of luck (especially in a year like 2003). However, if you live in a major market (NY, San Fran, Chicago, etc.) then the quantities available will probably let you decide if you want to wait until they release.

The disadvantage to buying now on futures is that the dollar is so weak against the Euro that if the situation improves over the next 2 years before release, you will have paid more just because of exchange rates. So it's really a gamble on that score, though I tend to believe that within 2 years the dollar will be stronger....

And the short answer to your question is that I will be buying futures due to the limited availability in my market plus my desire to keep my collection strong in my favorites.

Cheers, Gary

Reply to
CabFan

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