More Graham’s ‟Single Tawnies”

[JacobH]

I noticed on the Graham’s Blog the comment:

In addition, Euan Mackay also shared a cask sample of a 1969 Single Harvest Tawny, which Graham’s will be bottling in the coming year (watch for more news on this soon!).

I think this is quite interesting for a few reasons. It must mean that the first ‟Single Harvest Tawny” sold well enough, even at its premium price, that they think it is worth doing again and that Graham’s has decided to properly enter the colheita market. I do wonder if it might have an inflationary effect on other colheitas, though, if they can sell a fourty-year-old colheita at about the same price as a fifty-year-old one? I suppose if that happened it wouldn’t be too surprising. Colheitas have the advantage that they are from a single harvest (and so appeal to wine collectors who are often confused by blended products), can be very old, but have guaranteed quality due to being aged in wood; all of which should appeal to those interested in trophy bottles.

If I were running Dalva, Kopke or Krohn, I would be starting to look at ordering some fancy glass decanters and naming-rights to some defunct English shipper as soon as I possibly could...

[DRT]

I can well imagine that the Graham 61 will have sold well in the UK but it would be very interesting to know how well it has sold in traditional Colheita markets where those in the know are used to paying considerably less for wines of the same age.

It will be interesting to see what the price of the 69 is.

[Alex Bridgeman]

Does anyone else see it as odd that a 1969 should be bottled and released in 2012 when the 1961 was successful because it was bottled and sold in 2011? I spot an inconsistency in the marketing strategy, perhaps.

[uncle tom]

Does anyone else see it as odd that a 1969 should be bottled and released in 2012 when the 1961 was successful because it was bottled and sold in 2011? I spot an inconsistency in the marketing strategy, perhaps.

Agree - the '61 only sold on the back of the birth year market - they won't get big money for a '69 for another eight years.

Tom

[Andy Velebil]

Does anyone else see it as odd that a 1969 should be bottled and released in 2012 when the 1961 was successful because it was bottled and sold in 2011? I spot an inconsistency in the marketing strategy, perhaps.

Agree - the '61 only sold on the back of the birth year market - they won't get big money for a '69 for another eight years.

Tom

It sold because it was good. If the next one is that good so will it.

[uncle tom]

It sold because it was good. If the next one is that good so will it.

Sorry Andy, but they don't have a snowball''s chance in hell of commanding the same sort of money for a '69 until it becomes a landmark year.

People get a bit irrational when it comes to buying gifts for 40th and 50th birthdays - the sales of the '61 were not remotely driven by tasting notes..

Tom

[PhilW]

It will be interesting to see what the price of the 69 is.

The release of a Graham 69 colheita will at least increase the available ports from my birth year to 3, the other options of which I am aware being Taylor Vargellas and a Dow colheita; The latter retails for ~£60-90, if that is any guide.

[uncle tom]

The latter retails for ~£60-90, if that is any guide

Can supply you a bottle of the Dow '69 Colheita for £30 - if you want one..

Tom

[PhilW]

Can supply you a bottle of the Dow '69 Colheita for £30 - if you want one..

Yes please, will definitely take you up on that please Tom - thank you for the offer

[Andy Velebil]

It sold because it was good. If the next one is that good so will it.

Sorry Andy, but they don't have a snowball''s chance in hell of commanding the same sort of money for a '69 until it becomes a landmark year.

People get a bit irrational when it comes to buying gifts for 40th and 50th birthdays - the sales of the '61 were not remotely driven by tasting notes..

Tom

With all due respect, people don't buy a product that sucks even in their birthyear. They bought it because it was good.

Just curious, have you had it?

[RAYC]

Andy - I don't think anyone has suggested that the port itself is not good, but I do think that there is a certain level of truth to what Tom says.

To me, the Graham '61 was a very well positioned, well marketed product. Although colheitas are a bit of an unknown quantity with UK consumers and bottles of equivalent quality/age still sit on the shelf at lower prices, my gut feeling is that there were several factors that contributed to the G61's success: being rebranded a "single harvest tawny" whilst also drawing on the UK consumer's familiarity with the status and cache of Graham; the broadly contemporaneous and high profile promotion of the (much more expensive) Taylor Scion, which raised people's awareness of this type of product; and the attractive premium packaging combined with release in time for the 50th birthday market (which really does seem to be huge at the moment).

I find it interesting that I am not aware of anyone from TPF who purchased a bottle, yet someone at work who was not a regular port drinker emailed me the BBR link to ask whether it would make a good 50th / anniversary present, and I recommended it to a second person when asked who was using 61 claret as a benchmark for price. So I must admit, I don't think its a stretch to say that without the packaging or the year on the label, these people would not have been purchasers, even at a lower price.

For Grahams/the Symingtons, this is fantastic - they succeeded in releasing a truly aspirational product that appealed to a new segment of consumers.

But will be interesting to see if they are able to retain interest second time round at this price point - especially without the anniversary market. But people born in '69 do have birthdays every year...

Despite the fact that I will be priced out, I sincerely hope they are successful! (But let me get my life supply of G63/G70 before people move to VP...)

[uncle tom]

Just curious, have you had it?

No - and nor has anyone else that I know. The whole marketing thrust of this product is presentational, taking full advantage of the 50th birthday market.

As Rob says, good luck to them, but don't go spinning the line that this is the greatest thing since sliced bread.

If you want a superb Graham's tawny, look no further than their 30yr, which ranks in my estimation as the best of all the brands. The good people in the Graham's lodge are very fond of proffering it to me - and I'm very grateful for the treat!

The 30yr sells on taste alone, whilst the '61 sells on a dream - let's not pretend otherwise..

Tom

[Zelandakh]

Unfortunately not caused by anything I did but my birth year is 1970. It is a bugger to get decently price port. At least my son had the fortitude to be born in 1999 which is at least vaguely affordable.

Can I suggest that you change your birth year by dead poll to something that had a good year - you could make yourself younger like your wife

[uncle tom]

It is a bugger to get decently price port

By my reckoning, 1970 was the best vintage of the last 50 years, and yet despite that, the auction prices are really quite modest, especially for the second division VPs..

Tom

[Glenn E.]

Does anyone else see it as odd that a 1969 should be bottled and released in 2012 when the 1961 was successful because it was bottled and sold in 2011? I spot an inconsistency in the marketing strategy, perhaps.

Agree - the '61 only sold on the back of the birth year market - they won't get big money for a '69 for another eight years.

Tom

It sold because it was good. If the next one is that good so will it.

You two aren't disagreeing.

It sold because it was good. If the Port is bad people won't buy it. The 1961 Graham Colheita was clearly a good Port. Excellent or outstanding, even.

It sold for big money because it was well marketed, well presented, and released in an anniversary year. I do not believe it would have sold as well as it did for that kind of money had it been released in a non-anniversary year. 1961 isn't a well-known Port year, yet it sold for a high price anyway. That's the result of targeting the proper (anniversary) market.

If the 1969 is good then it will sell. But if it is released before 2019 (or possibly 2014) then the price will have to be less extreme than the 1961's price was on release. The quality creates the bulk of the sales, but it's the anniversary year that jacks up the price.

[JacobH]

There’s also a problem with these sorts of products in that the first releases were sold almost as a one-offs, made from the greatest barrel found in the cellars. I, rather cynically, am not convinced how you can then find another barrel to do it again the next year, but then I suppose the claret-producers are quite happy to market a ‟vintage of the century” every year...