You can ask the question differently (many do): “should we all be able to buy e.g. classed growth claret at reasonably affordable prices?” surprisingly often you get the answer “yes” to both questions. Many seem to be upset about the extraordinary prices that the best (or at least most expensive) wines in e.g. Bordeaux have reached recently. But is it really unreasonable? Is there anything that says that we should be able to buy the wines we bought yesterday also in the future?
Many consumers see in a nostalgic light the bottles they bought years ago without too much pain inflicted on the wallet. Many wine writers have been outraged over the price rises in recent years. One who just shrugs the shoulders is Robert Joseph, a well-respected British wine writer. His view is that today some wines have become pure luxury goods, and there’s nothing wrong with that. “the $1,000 bottle is no more crazy than the $10,000 handbag“. We agree.
For the rest of us, who don’t want to pay 1000€ for a bottle of wine, or not “even” 100€, there are plenty (more than ever) good and excellent wines to buy at reasonable prices. And the producers of those wines probably needs our money more than those who make the diamond studded wines. Read all of Robert Joseph’s article here Plus ça change
2 Responses
Yes, as both you and Robert Joseph say, the luxury good market different. People who buy €1000 bottles of wine are living in a different planet from the majority of us mortal who have to think and worry about our job, income, expenses and now even a bit of belt-tightening during this recession.
It's obvious that a €1000 bottle is not 10 times better quality than a €100 bottle; it's purely the status-symbol value so that they can show off how much money they have! C'est le capitalisme!
Indeed it is. Thank God. Life would be more boring without it.