High Bordeaux prices are whinemaking

BORDEAUX, France Among the barrels lined up in the cellars ofChateau Cos d'Estournel's winery, Managing Director Jean-GuillaumePrats and his chief cellar man, Francis Carles, taste red wine fromthe September 1997 harvest.

They are reassuring themselves that the vintage, which has justbeen bottled and will be shipped later this year, is up to scratch.It has to be. In March 1998, Prats sold the entire year's productionto 120 wholesalers for a record 280 francs ($44.14 at current rates)a bottle - 3 1/2 times what he charged for 1994 wine.

Back in the cellar sit barrels of the estate's 1998 vintage wine,maturing for another year. Prats has already sold that wine …