Dig deep, because who wouldn’t want to buy a $5,000 holiday wine?
If you spend $5,000 for a bottle of wine, do you actually drink it? That, to me, would be the most fascinating part about a wine auction next month at Christie’s in New York. Among the variety of rare wines for sale: a red Bordeaux, tthe 1990 Chateau Haut-Brion, expected to fetch between $4,000 and $6,000. And such a deal: it’s a large format bottle, an imperial, the equivalent of eight regular-sized bottles.
We’ve discussed this before on the blog: These auctions, their fantastic prices, and the idea that people who pay this much money for wine don’t necessarily drink it. Instead, they keep it in their cellar and show it off like an Old Masters painting or a rare postage stamp.
A good friend of mine, who associates with a much more Gatsby-esque crowd than the Wine Curmudgeon does, says he once knew someone like that. The guy would invite him over to look at the wine, but not to drink it. My friend, after this happened several times, asked the guy when he was going to open a bottle. “Never,” the guy said. “These aren’t for drinking. They’re for looking.”
Is it any wonder I worry about the future of the wine business?
The other thing worth noting is the price discrepancy between the French and California wines in the auction. The top estimated prices for California are about $600 a bottle, which is about half of the top price for a variety of red Bordeaux and Burgundy. Which makes this about the only place where paying $300 for a bottle of Shafer, a top Napa cabernet sauvignon, can be seen as a bargain.