I just got my Phelps Preferred information for this year and it looks like they will be raising the prices on some (most?) of their wines and not on others. Here are the prices of the wines I know about:

2000 Insignia $135 (up $10!)
2000 Backus $150 (no change)
2001 Le Mistral $30 (up $5!!)
2000 Napa Syrah $40 (up $3)
2000 Montrey Syrah $30 (I think this is new)
2000 Napa Cab $45 (up $3)
2000 Napa Merlot $42 (no change)
2001 Ovation $44 (?)

I'm kind of suprised they are rasing the prices on some of this stuff (especially the Insignia and the large hike on the Le Mistral). I do however expect to see these wines heavily discounted at most stores, particularly the larger stores. This isn't all of the wines they will release, just the only they sent me information on.

Interesting concerning the raise on the Insignia. I have local stores here so glutted with '98 and '99 Insignias, I think they will really hold off on heavy '00 orders. They simply will have no shelf space. They are discounting the '98s to $85 and the '99s to $90. I can't see them attempting to market the '00 at that price at the present time. Of course, there are bozos like myself who have a decent vertical going and will be buying some; but I will wait a year or so. It will still be out there.

Dick

I agree Dick. One local store here has been pricing the Insignias off and on for $70 for the '98, and $80 for the 99, and they still are not moving. This could prove to be real interesting.

Mike

Some stores around me never even saw the 1999 because the Insignia'a for $90-100 are not moving. This goes for the 1997 as well as the 1998.

These CA wineries have not realized that the wine boom is over. The pool of people who will pay over $100 for a wine is dramatically smaller these days. I for one will be happy when they do. Disclaimer: I really like Insignia but I will wait for it at Sam's Club and the like.

'99 Insignia at Sam's Club = $80 as of yesterday

Sounds like financial suicide to me. Hard to believe the market will readily support the escalation. What does Phelps know that we don't?

I wish them the best of luck (im Moving any of these).

I suspect that there is alot of room for discounting in the Phelps wines. Thus I would expect to see the 2000 Insignia for $90 or perhaps even less. I would not expect to see it at list price.

Agree with all the above comments except if I was going to buy these wines, I would buy upon release to insure proper storage. I wouldn't wait a year to buy because it will still be sitting on shelves in less than ideal conditions.

I would rather pass then be sure of proper storage. It's not worth it.

TCK, you are going to pass no matter what because of the prices so timing doesn't matter to you. Someone who is going to purchase the wines might want to give this some thought, especially with either the Insignia or Backus.

The storage issue makes a valid consideration, especially if as Seek1 says, there are still '97s sitting around. Gracious! '97s? Anyway, I do not think retailers will attempt to sell them at anywhere near release price. In fact, many will reduce their allotment due to the glut.

Dick

TCK

You missed the key word in my comment. "If".

Any preliminary notes on the 2000 Insignia? With the news about 2000 being such an off year..... but perhaps they think it's better than the '99 was?

But anyhow, what's the winery care, most likely the distributors will still buy it all up anyway, even if the retailers don't. Or is the winery still sitting on a lot of '99?

How does everyone know 2000 was such a poor vintage?

it must be true - I've read it in the press! (As if)

Just commenting on what I read.... only a little personal experience so far. Some lower bottlings are out, and I personally am not impressed yet.

Exactly Jones. Until you taste it yourself (or enough folks you trust do) then one really doesn't know. Remember that the decade of the 90's was a rather incredible one for the Napa Valley with only one year which could be labeled subpar. I'm wondering if the bar has been pushed so high that anything other than a stellar year will be considered a failure.

Btw, I've had all the 2000 Pride wines (except the reserves) and they are pretty darn tasty. The Montelena Chard is definitely of higher quality than the 1998 and I thought as good as the 1999 (but not up to the 1997). I've tasted the a barrel sample of the 2000 Insignia at the Insignia release party last year but can't remember much about it. The Duckhorn Merlot (the regular one) is drinking quite nicely right now, in fact I'd say it is drinking better than their 1999 vineyard designated or estate merlots at this time.

Overall I think you have to look around and see what you like. There were some very good wines made in Napa in 1998 (contrary to what some would have you believe). They just weren't falling off the wine racks, you actually had to search for them.

I definitely plan on finding out for myself as well...

Glad you are having a good experience so far skwid.

I will say this Revlis, I'm a much more discriminating buyer these days than in the past. I've got alot of wine so I don't know that I'll be buying tons of 2000's this year because I need to lower the fill level of the cellar, not raise it. I think that just like any year there will be great wines and stinkers. The ratio is what changes.