and Cabernet Sauvignon truly gathered momentum. Leeuwin Estate Art Series Chardonnay, the Jimmy Watson-winning Cape Mentelle Cabernet Sauvignon wines, and Moss Wood’s cult presence on the fledgling Australian secondary wine market established Margaret River as a new and exciting classic wine region. Much of this cut-through happened while I was working as a young wine auctioneer at Rushton’s, and then at Langton’s during the mid 1980s. The stock market crash of 1987, the weakening Australian dollar, and punitive import taxes also quarantined the wine industry from serious outside competition. More and more Australian collectors turned towards buying fine Australian wine. Trade in the secondary or re-sell markets, a very good indication of fine wine currency, showed consumer preferences. Although there were many emerging wineries (Tom Cullity suggests there were around 30 wineries in Margaret River in 1987), a few were beginning to attract significant attention. Collectability When we released our first Classification of Australian Wine in 1989, published in the 1990 Langton’s Wine Investment Guide , Margaret River featured quite prominently. (This was the prequel to the poster format, comprising 34 wines, that was released in 1991.) Moss Wood Cabernet Sauvignon, Cape Mentelle Cabernet Sauvignon, and Leeuwin Estate Chardonnay [ sic ] were listed Grade A (later Outstanding). The first Classification listed ‘The Performers’ and included Leeuwin Estate reds as well, which highlights the secondary market popularity of Margaret River wines post 1986. Today, the first Classification looks imprecise, but it gives a very good idea of the sentiment at the time. Of course, while the market has changed over the last 30 years or more, these wines remain in the Classification, with Cullen Diane Madeline Cabernet (which became recognised in the 1990s), Leeuwin Estate Art Series Chardonnay, and Moss Wood Cabernet Sauvignon sharing top ranking with Penfolds Grange, Mount Mary Quintet Cabernet Sauvignon, and others. In addition to these wines, other producers, including Cape Mentelle, Deep Woods, Howard Park (Lower Great Southern & Margaret River), Pierro, Vasse Felix, Voyager Estate, Woodlands, and Xanadu, are included in this
Margaret River
11
Powered by FlippingBook