Consumers’ passion for Piedmont continues, but how and what they drink is changing. Climate change is making Nebbiolo bottlings more accessible on release, reducing the need for cellaring and eliminating the art of decanting. While Barolo and Barbaresco have traditionally led the way, red blends, Alto Piemonte, and Timorasso are making waves now, too. Four key industry figures, who closely follow the market for Piedmont wines from different vantage points in the U.S., shared their latest observations about buying Piedmont wines in today's marketplace. 

I don't get a lot of inquiries from clients about newer stuff in Barolo and Barbaresco, just because it takes so long to age. A lot of collectors are slowing down—buying and drinking less. These classic collectors have the money to get access to whatever they want. What they have bought has already increased in value. They're thinking, "Why would I buy some new vintage that I can't even drink for 20 years?"

The old-school collectors might reduce quantities of their overall purchases, but they keep their verticals going. Ten years ago, the big spenders were like, "If I don't buy this now, I might die before tomorrow." Now, they're waiting.

The newer generation is happy to spend money on a few bottles and share them with friends. They're not interested in amassing wine in the same way. The market has changed a lot in the last few years. A lot of the new money coming in wants to know if it is a natural wine, or the production has to come from specific types of social groups: women, LGBTQ+, black-owned. That's all great!

But Barolo and Barbaresco—they're seen as grandad wines, even though they are the cornerstone of Italian wine. These are wines that have dictated how other wines should be made. They're responsible for putting Italy on the map. 

From a collectible, fine wine standpoint, we are losing a bit of that culture. The people who used to want to buy the great new vintages—and still do, to an extent—realize they may not be alive to drink them.

It's a weird time. You have to get people in the right mindset. People might ask for a specific wine in a specific vintage, but it's not like everyone is emailing and talking up whole vintages any more.

A lot of buyers want to look back to classic vintages. They say, "Sure, I'll buy some new vintages, but I'd rather buy 2010 Barolo in six-pack. The interest out there is for something that is more mature but still fresh and drinkable. There are very good back vintages available, and they're probably around the same price and may be a better value than what you get with the new stuff. 

Where is the next line of wine buyers coming from? The new generations—wow, I feel like the old person now—they are very unwilling to accept suggestions. They are very much about doing their own research. They ask for opinions, but then they often disagree. They know better. New buyers could use some hand holding for big ticket wines, but they are like teenagers. Not interested. (There's something about wine, too, where people do not like to be wrong.) 

All we can do is listen carefully, be very honest, and find the best wines we can for what they want. Because they don't want to build a 10,000-bottle collection. They want to share some wines with wine geek friends now. I'm genuinely concerned about who the hell is going to buy these great wines moving forward.

Plus, people are more cautious in an election year. Twelve or 13 years ago, Flaccianello was $70. Now, it's $250. Take Rosso di Montalcino. These used to be $20. Now, all the good ones are $40, $50, $80. This is something they make to train the vines to make Brunello! (Sorry, I'm looking at a bunch of Tuscan wines in front of me!) You can apply these examples to lots of Piedmont wines. People say, "I appreciate the wine, but how can I justify spending that?" Alto Piemonte is more approachable and interesting, with smaller production wines, and seems to be gaining a lot of interest. 

These days, you get all sorts of people when it comes to vintage ratings. There are people that obsess about a certain vintage, whether it was a 100-point vintage, or only one critic loved it, or that's the only vintage their friends talk about. 

I'm excited about 2019s. I've had a few Barolos that really surprised me. They have approachability with good structure. It's odd, because they're ageworthy, too. You don't have to decant them for 16 hours before serving!

With 2021, I am particularly excited to see how Barbaresco comes out. Barbaresco is getting more traction than Barolo these days. No one buys Giacosa anymore. No one buys the crus because they are too expensive. [Christy’s take: Where are those bottles? I'll come get them!] The same with the 2020s, which are balanced with some really good results. I think we'll sell more Barbaresco simply because it has a wider range of price points.

Around wine people, the idea of MGAs [Menzioni Geografiche Aggiuntive, similar to a climat in France and a step up in quality and price] are mainstream concepts. Basically, these are great vineyards. If you're not following the "grand cru" talk, it is a bit of a hold back. Brunate, Bussia, Le Coste—people are talking in the language of Ratti and Masnaghetti now. [The former drew the first "cru" maps of Barolo in the 1960s; the latter published the modern MGA maps.] Over the last 13 years, since I started this business, this has greatly influenced the market and pricing. 

It's complex today. We talk about blue-chip Piedmont producers—Bartolo or Giuseppe Mascarello, for example—and they get treated very differently from the rest of your portfolio. We make equivalencies to Burgundy. Barolo has its Musigny and Chambertin now.

These producers, along with certain wines from Fenocchio, Oddero, Roccheviberti (which only has 2.5 hectares) and others run out of allocations quickly. We're talking hundreds of thousands of dollars of allocations. 

Galloni gives them giant points. That, especially with fashionable vintages, drives U.S. sales. Lots of people still buy on points, especially for those expensive wines.

Look at auctions. Italian wines—especially Piedmont and Tuscany—are the biggest growing sector. Why wouldn't you buy a "grand cru" Piedmont instead of a village-level Burgundy? Piedmont producers are aware of this. Piedmont has always channeled Burgundy. 

As an importer, I benefit from wines selling more easily. On the other hand, there is a whole base of consumers that need to learn what Piedmont is. We are working with those consumers to help them understand this window of opportunity, with pricing that is still good with respect to the very high quality. The allocation windows are smaller and smaller. The Burgundy allocation window is closed. This is on the way for Piedmont. It's going to be a tricky thing.

At least there is more great wine now! When I worked with him, Enrico Scavino—R.I.P.—used to reminisce about his 65 years of vintages. He said that when he was a kid, two in 10 vintages were good. Now, it is eight out of 10. 

Global warming gives you more approachable wine, outside of extreme vintages like 2003 and 2017. We generally don't have these vintages that are suffering from too much from climate change—yet. Although Piedmont is a non-irrigation spot. So if you have young wines, that is a problem. But generally, if you look at the Masnaghetti studies and the Renato Ratti classifications, those great, historic vineyards are still producing the great wines. You don't have to plant the north sides of slopes just yet to make great wines. Besides, Nebbiolo can't sit all day in the shade. 

Still, ageability has changed. You look at recent, warm vintages when you harvest in mid- or late September. You have very pretty wines, but you don't have the tannins, alcohols, and structures super integrated. For the 2019s and 2021s, I think too many people will write good things. Americans will pick up their wine magazines, walk into bottle shops and buy. The ‘19s and ‘21s are super pure and very good vintages for modern-day Piedmont.

Vintages like '18 and '20 get lost in the shuffle. I love "off" vintages. My friends make fun of me for liking 2014 in Piedmont. If you didn't get hail, you harvested in November. That is a grand cru, no baby fat vintage— again, if you didn't get hail. There's purity. 

Changes are coming elsewhere in Piedmont. Look at Roberto Conterno buying Nervi [in Alto Piemonte]. That was a game changer. You now see Gattinara over $100 at retail. The problem is that these are still a hand sell. We are way behind teaching consumers about Alto Piemonte.

Then, there is Timorasso. Anyone who knows about Piedmont and cares about white wines needs to pay attention to it. It deserves to be known globally as a great variety. It's the great white frontier.

Everyone who is anyone in the Langhe has invested in it. When it is young, it is like a tightly-wound Chenin—wooly, nervy, structured. When aged, it can turn rich, round and open. Also as they age, they can have that hydrocarbon note, like Riesling often does. Timorasso has a salty, green herb note, too. These can age 10 years, even in a bad vintage. Can't say that about many varieties!

Everyone starts with Sangiovese [and Tuscany]. Then, they move to Piedmont. But Piedmont has always been a very important part of my wine program, even if it isn't the focus. Barolo and Barbaresco have always been deep in producers and vintages on Vegas lists. 

If you consider a novice palate, Brunello is more drinkable. Montalcino tannins are easier. Also, there are quite a few producers who still use French oak in Montalcino, which is more familiar in taste to lots of consumers.

By the bottle I sell more Brunello, but Barolo is second. Interestingly though, I sell more Nebbiolo by the glass—whether Barolo or Barbaresco.  

I've played with older vintages, but it is hard to keep them on the list. I just got in some 2010 Pio Cesare, and it will be gone within two months—tops. The wine world is generally drinking Burgundy and Bordeaux. We have a lot of people drinking Château Latour, Domaine de la Romanée-Conti, and so on. When they drink Piedmont, it tends to be seen as an area of value. The beauty of Barolo is that you can find something that, at $150 to $180 on the list, represents good value and a great bottle of Nebbiolo. Prices for Barolo and Barbaresco are holding up okay, and they deliver a lot of complexity for their prices. 

The 2019s are already in my market, but I'm pouring a lot of 2017s and 2018s. There was a breath of fresh air when the '15s and '16s rolled out. They made Barolo so approachable and understandable. We need more of this.

Most consumers don't have a perspective on the vintage. For them, it doesn't matter if it is a 2017 or a 2018. Anyway, we do the work for them. Working with 2019s is a challenge because I know they will age well—but they drink well now, too.

The program I run is fluid. Demand is high. I would like to keep wines around—especially Riservas. Giacomo Borgogno released a 2014 Riserva last year. Unfortunately, given the market I'm in, I'd have to take it off the list and sell it on the side. If it is on the list, it will sell. What may stay on the list longer is Romanée-Conti, just because it is that much more expensive. I recently sold some 2017 Sorìs [single vineyard Nebbiolos] from Gaja. Nothing stays around long.

This restaurant does $7 million a year in wine revenue. I don't think our diners have a problem with rising prices. Brunello—I have seen some absurdity, with some going up double or triple in a few years. I still buy them. I haven't seen this in Barolo or Barbaresco. 

But, there's more than red to Piedmont! I've got all my eggs in one basket for Timorasso. It can also, potentially, age gracefully, not that my customers are asking for aged whites from Piedmont. There's also Nascetta and Riesling. My customers are open to try wines that are vibrant, crisp, and showing plentiful acidity. I see mixed results with guests on older whites, wherever they are from and whatever variety they are made with.

Piedmont red blends are what everyone is drinking. Three, four, five years ago, customers started engaging in red wine blends from places other than California. In Piedmont, it was to the detriment of Dolcetto in particular. I think a lot of customers weren't finding much joy in the varietal yin-yang of Piedmont: the low tannin and high acid of Barbera or the low acid but high tannins of Dolcetto. Combine the two, and you get the right dynamic; add Nebbiolo for aromatics. Plus the wines are very affordable—usually $18 to $25. We probably sold 100 cases of Piemonte Rosso last year from four or five producers.

We also do well with Langhe Nebbiolo. You have to have them priced right now because producers are giving them more serious mark-ups. They are cresting over $30 to $35 on the shelf. On Wednesday night, people feel that is just too high. Barbera is also getting up there, and it's harder to sell at higher price points. 

We sell a lot of Barolo in the $50s, $60s, and $70s. Barolo has been one of my biggest categories for years. In Barolo, I skipped the 2017 vintage entirely. Didn't buy a single one. (Personally, I skipped ‘17, ‘18, and '19—I have too many wines from the late ‘90s to drink as it is.) Back to the ‘17s: there were ‘15s and ‘16s still in the market. Even if they weren't A-list producers, these were good vintages offering good value. We got to show off some different producers and broaden customers' horizons.

I bought the 2018s because we needed inventory. I generally told everyone to drink them now through the next seven to 10 years. There is just less complexity and dimension to evolve there.

The 2019s are a very nice vintage, even if not epic like the 2005s. I haven't tasted many 2020 Barolos yet, but the Langhe Nebbiolos are exciting. And, I cannot wait to see what the 2021s hold! Interestingly, the 2021 vintage was so problematic in France that I think Piedmont wines may be hard to sell. So, I am already signaling it's a great year in Italy by telling everyone to look at the 2021s Chiantis. They are terrific. You can easily age those seven to 10 years.

Style-wise, Piedmont is now a little bit of everything. The style of the [modern] Barolo Boys and the ultra-traditionalists have come to the middle ground over the last 20 years. I don't really see anything that strikes me as "fully modern" anymore. Everyone has become more reasonable. Luca Currado at Vietti doesn't use foudres any more [prior to his departure from the winery a year ago]. Elio Altare's daughter doesn't use all the new oak he used. Whatever. When I pour my late 1990s, derided at the time as too modern, the wood doesn't dominate, the fruit is still spectacular, and they are clean.

Now I'm mostly intrigued with small producers that still make $50 normale Barolos. These give us the opportunity to offer an easy step up [price-wise] when someone is into Piemonte Rosso or Nebbiolo. Scrimaglio and Ellena Giuseppe [next-door neighbor to Altare] are great. For the MGAs, Scavino resonates by far the best with my customers.

Then, there's Barbaresco. Giacosa and Marchesi di Grésy are still my Tiffany standards. But my best-selling wine from di Grésy is the Virtus—a Barbera-Cab blend. Truly superior quality to value there. 

In Alto Piemonte, my top-selling wine is from Tenuta La Pergola from Kermit Lynch. It's a Barbera, Dolcetto, Freisa, Grignolino blend—it changes with the vintages—that is under $20 on the shelf. It's fresh. You can chill it. Great red for warm Florida weather. I've got a new Gattinara Riserva that is just $49. Plus, we've also got three or four wines from Monferrato at any point, including a dry Brachetto. We've got 70 Piedmont reds and 12 are from Alto Piemonte. People think it's just Barolo and Barbaresco, but Piedmont is so much more.

We try to be comprehensive in the whites, too. We do a ton of Arneis—the gateway white. I love to sell Arneis to people who are getting tired of Sancerre and New Zealand Sauvignon Blanc but don't want Chardonnay. It has aromatics with texture—very versatile. Gavi di Gavi is great on the minerally side. Especially Villa Sparina's Monterotondo—stunning value. 

Everyone here likes Villa Sparina's sparkling Gavi, too. It's lots of fun. We also like Alto Piemonte's bubbles. We've really embraced the Enrico Serafino wines. I'm convinced that Alto Piemonte is the next big thing in sparkling. We just need more of it brought into this country.