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Costco Fairfax Sells Out Lafite in 24 Hours

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Costco Fairfax Sells Out Lafite in 24 Hours

Joe H. | Aug 19, 2003 11:27 AM

Last week several Costco stores (Fairfax, Sterling, Pentagon City) received stocks of various 2000 bordeaux including several first growths. Costco's pricing on some of this is simply the lowest in the United States, perhaps the world: they are charging the second round of futures price for several bottles including Lafite and Margaux. What this means is that Lafite Rothschild, rated 100 points by both Parker and The Wine Spectator, sold for $299.99. While this seems like an incredible amount for a bottle of wine most stores are selling it for the mid to high $400's per bottle-if they have it. In Paris two months ago Hediard was asking US $775 per bottle for this!

Curiously, Wine Commune lists a number of single and small number of bottles for sale all with bids in the range of the mid to high 300's with closing dates of around the 23rd. The implication of this is that a lot of people both here and elsewhere went into Costco, bought a bottle or two for $299 plus tax and are now trying to sell it at a profit through auctions such as Wine Commune. If anyone did happen to buy one of the two cases total that were put on sale in Fairfax (I am not certain of how much elsewhere) this is a wine that properly stored for ten or so years should double in price from the purchase price of $299.

Other 2000 bordeux that Costco feature do not show the same relative value of Lafite and Margaux (due in any day) although the second label of Latour at $45 was a real value considering that stores are asking close to 90. Pavie (another 100 point fro Parker) is STILL on the shelf in Fairax for $199 but this is only $30 less than what is available elsewhere. Haut Brion, Mouton and others represent only small savings. Yet for some of the 2000 bordeaux such as Gruard Larose ($39.99-$110+ elsewhere for this 95 point wine), Costco has had incredible bargains if carefully searched over and lucky enough to be there when it hits the shelf.

There are some who believe that a case of Margaux or Lafite, purchased at 60% of the cost of other stores is a good investment if properly stored for a decade and then sold at auction. The trick, though, is not to drink wine that might be 600 to 700 a bottle after storing it for so long.

More is due in soon.

Link: http://www.winecommune.com/search2.cf...

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