The Bump: Putting Wines On Lists Raises Prices
This week, the mostly unheard of 2005 Quinta do Crasto Reserva landed at #3 on Wine Spectator’s top 100 wines of the year list.
Demand has spiked and retailer’s phones have likely been ringing off the hook for the juice ever since the announcement (Something from Portugal that isn’t Port? I MUST drink it now!). Zachy’s has the 2005 Quinta do Crasto Reserva listed for $54.99, *on sale* from $59.99. Both of those numbers are a 50% premium over the retail average of $36.70. Quite a sale they’ve got going on up in New York.
To be fair, I’m sure Zachy’s distributor ran up prices on them so they, in turn, ran up prices. A market is a market and if you want the cool hip wine of the moment, then you’re going to pay for it. Zachy’s has the #2 2005 Rauzan Segla listed at a reasonable $149 a bottle.
December 2nd, 2008 at 5:25 pm
Hi Gary,
the same wine in Portugal will cost you between 25 and 50 euros (or $30 to $60) and that’s if you can find it.
It’s not short of amazing that the Wine Spectactor is a publication that people in Portugal don’t read (if they know it exists).
But hype travels fast and the news that a Portuguese wine made to the top 10 of a publication (no matter which) is news all over the Portuguese media.
Now, obviously, the wine is nowhere to be found.
December 4th, 2008 at 7:54 am
“Now, obviously, the wine is nowhere to be found.”
That figures. If you want it, you have to get it *before* the hype.