While some of this is simply a function of practicality (each consumer has an individual willingness to pay for wine depending on their purchasing power, the occasion, and a variety of other factors), differentiating on price in the super and ultra-premium bands $20-$50 is tricky. Additionally, given the 3 -tier system and the truth behind markups, how does one know what they are paying for? To what extent is the price due to supply chain and distribution vs the quality of the wine. Furthermore, after learning about grand crus and its impact on pricing, despite variability in quality and improvements/degradation over the decades, I find myself wanting guidelines for how to interpret what is signaled by price and how to make a smart choice.
Price and quality must be connected in some way, for example, if a wine originates from a small winery on another continent, the markup probably reflects something special about the wine (e.g. that it was hard to obtain, was produced with care and expertise in small batches/from low yield vineyards). However, how does one take the next step to understand the association between price and quality/taste? To what extent can a bottle's price be used as a proxy for how much someone might like the wine?
This next note "culled from the collective wisdom of sommeliers and other wine professionals", did not help to clarify the situation:
""Restaurants will likely jack up the price by two to three times the retail price, but the more expensive the wine, the less the mark up," Soltani told INSIDER. "So even if you are on a budget, don't pick the cheapest wine on the list. I would go for the second cheapest. Also, one bottle of wine equals about four glasses. But if you pour tasting pours (two ounces), the wine will go a lot further."
(Our experts disagreed on whether or not the cheapest or second-cheapest was the worst option to order on a wine menu. If you're on a budget, it's safe to go with a cheaper mid-range bottle.)" - How to Order Wine Without Looking Like an Idiot, Serious Eats
It pays (no pun intended!) to recognize how complicated this question is given the psychological factors that feed into human satisfaction and perception of value. "Value", "quality", cheap/expensive, and what is considered to be a valid substitute for a "good" wine is all at least somewhat subjective, and therefore varies from person to person. As an example, someone who doesn't place a high premium on rare wines or the story behind a wine might be upset by a higher price, particularly if they are able to identify a lower-priced (better value) substitute.
It is difficult to ascribe "rules" to guide making wine purchasing decisions based on price. It is hard to hold anything constant given the compounding complexity of consumer perceptions and preferences, and the many ways in which the products of the wine industry can be cut and examined. To be continued!
I definitely agree with your frustration regarding how "price" seems to be the primary signaler of "quality". Despite drinking wine quite often (and venturing into $10-$30 territory!), I still have no idea how to decide whether to choose a wine for home consumption or in a restaurant. I either end up buying a nice-looking $15 wine of a varietal that I am familiar with or asking a server what they recommend under budget.
ReplyDeleteOne of the biggest problems I find with this price/quality conundrum is that I am hesitant to try varietals or regions I am unfamiliar with, especially when they seem cheaper. Cheapness may just result from the region or wine being less well-known but to me, it signals lower quality. I definitely should be more open to trying "cheaper" unique wines - but what could be more disappointing than opening a bottle of low quality wine?
Maybe Vivino will help solve this problem (but then again, I'm relying on the mass market to tell me what it likes for better or for worse...).