When is a Wine Worth Too Much to Drink?

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JLee
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Re: When is a Wine Worth Too Much to Drink?

#51 Post by JLee » April 29th, 2020, 8:53 am

john stimson wrote:
April 28th, 2020, 9:13 pm
Money is just money. If wine was simply a rational exercise it wouldn't be any fun at all.
One can be rational about spending or saving money on wine and still have plenty of fun.
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Re: When is a Wine Worth Too Much to Drink?

#52 Post by Marshall Manning » April 29th, 2020, 9:07 am

Thanks to all of you for your thoughts on this. I'm still debating...it's a combination of trying to balance passion and emotional connection with certain wines and producers, some which I might never have the opportunity to try again, but also trying to do what makes economic sense.
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Re: When is a Wine Worth Too Much to Drink?

#53 Post by Marshall Manning » April 29th, 2020, 9:12 am

Howard Cooper wrote:
April 29th, 2020, 5:18 am
And, it would be a hard sell because I have met Jacky Truchot on a number of occasions and would feel like a traitor selling them.
I totally get this too, Howard. While the Cornas from Clape haven't appreciated nearly as much as Verset, I don't think I'd sell them because I've been to the cellars, tasted with the family, and feel more of a connection there (even thought they probably wouldn't remember ME [notworthy.gif] ). For many of us, the wines we love can bring back memories and experiences in our past.
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Re: When is a Wine Worth Too Much to Drink?

#54 Post by M Passo » April 29th, 2020, 9:22 am

Ask a simple question: what gives you more fun: opening a bottle that is inexpensive and awesome, or opening a bottle worth a lot of money and is awesome. Now factor in the "there is no such thing as good vintages, only good bottles". Now add in the shelter at home and a need to do somethings that elevate the mundane to the supreme but may be more like masturbation (self gratifying). Then add in the story behind the acquisition. No right answer---a 1% issue for sure.
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Re: When is a Wine Worth Too Much to Drink?

#55 Post by alan weinberg » April 29th, 2020, 9:24 am

Howard Cooper wrote:
April 29th, 2020, 5:18 am
And, it would be a hard sell because I have met Jacky Truchot on a number of occasions and would feel like a traitor selling them.
I sort of understand but it sounds like some of you, for instance, have cases and cases of Truchot, and selling some would not significantly negatively impact the supply and it would also allow others to experience the magic—something maybe Mssr. Truchot would appreciate.

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Re: When is a Wine Worth Too Much to Drink?

#56 Post by Anton D » April 29th, 2020, 9:30 am

I better restate:

If I already own it, don't care about 'worth.'

If I am about to spend money, I top out at 280-ish....that magic 300 mark gets me.

Disclaimer: I have two bottles I will never drink because they became worth too much money.
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Re: When is a Wine Worth Too Much to Drink?

#57 Post by m. ristev » April 29th, 2020, 9:47 am

i always struggle with 'value' when it comes to wine. there is a huge lack of transparency in the market in my opinion. i just drank a wine from a cult burgundy producer that i purchased before they were on the radar. i just took a peek at wine-searcher and the same bottle ranges from $168 to $945. auction results over the past two years range from $380 all the way to $1200 per bottle. what exactly is this wine worth? clearly there are many factors at play but ultimately it is worth only as much as what someone *believes* it to be worth. belief is often manipulated with marketing. in today's day and age, this type of perception management accounts for a huge role in driving up prices. how sustainable is it though?
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Re: When is a Wine Worth Too Much to Drink?

#58 Post by Tom Lee » April 29th, 2020, 10:08 am

I've never understood wine drinkers who wear the "I've never sold a bottle of wine" badge. I was once offered $1000 for a bottle of 07 Schrader CCS. I sold it and never looked back. Just common sense in my opinion.

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Re: When is a Wine Worth Too Much to Drink?

#59 Post by Howard Cooper » April 29th, 2020, 10:23 am

alan weinberg wrote:
April 29th, 2020, 9:24 am
Howard Cooper wrote:
April 29th, 2020, 5:18 am
And, it would be a hard sell because I have met Jacky Truchot on a number of occasions and would feel like a traitor selling them.
I sort of understand but it sounds like some of you, for instance, have cases and cases of Truchot, and selling some would not significantly negatively impact the supply and it would also allow others to experience the magic—something maybe Mssr. Truchot would appreciate.
How many wines from DRC, Ramonet, Coche, etc., are you selling?
Last edited by Howard Cooper on April 29th, 2020, 10:32 am, edited 2 times in total.
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Re: When is a Wine Worth Too Much to Drink?

#60 Post by alan weinberg » April 29th, 2020, 10:29 am

Howard Cooper wrote:
April 29th, 2020, 10:23 am
alan weinberg wrote:
April 29th, 2020, 9:24 am
Howard Cooper wrote:
April 29th, 2020, 5:18 am
And, it would be a hard sell because I have met Jacky Truchot on a number of occasions and would feel like a traitor selling them.
I sort of understand but it sounds like some of you, for instance, have cases and cases of Truchot, and selling some would not significantly negatively impact the supply and it would also allow others to experience the magic—something maybe Mssr. Truchot would appreciate.
How many wines from DRC, Ramonet, Coche, etc., are you selling?
some. I’m still in commerce corner selling some Coche.

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Re: When is a Wine Worth Too Much to Drink?

#61 Post by Howard Cooper » April 29th, 2020, 10:32 am

I would say I don't have more Truchots than I expect to drink in my lifetime. Also, these are all wines that I bought on release and know how the wines have been stored. If I used the money I would get to buy other wines, (1) if I bought older wines, there would be more duds because of poor storage, fraud, etc., and (2) I am not buying younger wines of top quality anymore because of my age. I don't need to buy a whole bunch of cheaper wines. I have a lot of those, again with more age on them - really good less expensive wines like Prum, Zilliken, 2005 Beaune premier crus, etc., etc. As I said earlier, if someone offered me $600 for the 2005 Bourgogne Rouge, I would probably sell some to them and buy Musigny or something , but I want the better ones.
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Re: When is a Wine Worth Too Much to Drink?

#62 Post by Mike Evans » April 29th, 2020, 10:52 am

Whether to sell any of my wines that have appreciated greatly is a difficult and complicated decision. The biggest complication is that I don’t have more than 1-2 bottles of almost any of them, so selling the wine means that I may never get to have another of them.

Next, most of my highly appreciated wines are very special to me for one reason or another, so their value to me is more than monetary. I have no knack for converting emotional or sentimental values to economic ones, in part because I’ve been fortunate enough that there isn’t anything that selling even the three or four most valuable wines in my cellar would allow me to do that it wouldn’t be too painful to do without selling those bottles. I’m also not sitting on any high four or five figure bottles so we aren’t talking new car or kitchen renovation bucks here.

Finally, I have a pretty limited quantity of highly valuable wines that I can share with some very generous friends as an reciprocal expression of my appreciation for their generosity. Some I also hold on to because bringing them allow me to attend tastings of wines with comparable value.

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Re: When is a Wine Worth Too Much to Drink?

#63 Post by LMD Ermitaño » April 29th, 2020, 10:54 am

Tom Lee wrote:
April 29th, 2020, 10:08 am
I've never understood wine drinkers who wear the "I've never sold a bottle of wine" badge. I was once offered $1000 for a bottle of 07 Schrader CCS. I sold it and never looked back. Just common sense in my opinion.

Tom
No badge in my case. I was just stating a fact.

To explain, in my own case anyway:

I buy a bottle (because I want to drink it, naturally), say, for $100 (for simple math). After some time, buying that same bottle would cost me $1000. Some person then offers me $1000 for it. I wouldn’t sell because I still want to drink that wine.

However, with the same above givens save that said person offers me, say, $2000 for my (then appreciated) $1000 bottle, I’d just tell him he could buy it for $1000 somewhere else.
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Re: When is a Wine Worth Too Much to Drink?

#64 Post by Nathan Smyth » April 29th, 2020, 11:09 am

In a deflationary environment, you want to be sitting on cold hard cash.

But in an inflationary environment [and especially an hyper-inflationary environment], you want to be sitting on tangible assets [like that '99 Verset Cornas].

So you have to decide - are we headed into deflation [which is what the demographics would dictate], or are we headed into inflation [which is what the legislators & their bankster overlords would like to achieve], or possibly even into hyper-inflation?

PS: You also have to ask yourself how long the Northern Rhone will continue to be the "It Girl", until inevitably she hits the wall and gets supplanted by younger hotter tighter.....
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Re: When is a Wine Worth Too Much to Drink?

#65 Post by Marshall Gelb » April 29th, 2020, 12:12 pm

When I first started buying wines I never planned on selling them. It never even crossed my mind as a possibility. However, since I got "lucky" and was able to buy some (now valuable ) wines in larger quantities, I am contemplating selling a few bottles. For me, this would be the best of both worlds since I would get to experience a few of the wines as well as sell a few. Considering my age, and the amount of wine that I have, this approach makes the most sense. To be a bit more specific, I was able to buy a considerable amount of '82 Bordeaux at "futures" prices. Truthfully, I have drunk and shared a good portion of these wines. Many with fellow Berserkers. However, a couple of wines, such as the Lafleur have had some very serious price appreciation. It is a perfect example of where I will drink a few and also sell a few. To me, this is just common sense and simple economics.

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Re: When is a Wine Worth Too Much to Drink?

#66 Post by Scott G r u n e r » April 29th, 2020, 12:14 pm

Ha. This thread made me go and look up verset pricing. I had no freaking idea how that had exploded. I think I have one bottle of the 1998 left which I think I paid $50 for. champagne.gif
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Re: When is a Wine Worth Too Much to Drink?

#67 Post by Marshall Manning » April 29th, 2020, 1:04 pm

Scott G r u n e r wrote:
April 29th, 2020, 12:14 pm
Ha. This thread made me go and look up verset pricing. I had no freaking idea how that had exploded. I think I have one bottle of the 1998 left which I think I paid $50 for. champagne.gif
Scott, I opened one of those 3 years ago, and it was delicious, and probably at its peak? No reason to wait....
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Re: When is a Wine Worth Too Much to Drink?

#68 Post by Josh Grossman » April 29th, 2020, 1:17 pm

If I ever have wines that are Veblen goods, I'd sell them (and try not to buy them in the first place). Turns out it's hard to define exactly what that is though.

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Re: When is a Wine Worth Too Much to Drink?

#69 Post by Howard Cooper » April 29th, 2020, 1:37 pm

Mike Evans wrote:
April 29th, 2020, 10:52 am


Finally, I have a pretty limited quantity of highly valuable wines that I can share with some very generous friends as an reciprocal expression of my appreciation for their generosity. Some I also hold on to because bringing them allow me to attend tastings of wines with comparable value.
This is certainly a factor for me as it impacts my social life.
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Re: When is a Wine Worth Too Much to Drink?

#70 Post by AndrewH » April 29th, 2020, 2:50 pm

alan weinberg wrote:
April 28th, 2020, 2:11 pm
it’s just wine and economics. I always wonder if these people who say they look at the wine at what they paid for it and not the current value would sell their appreciated house or stocks for what they paid for them.
The endowment effect is strong with many people.

IF I had wines that had increased 300-400% or more I'd do as suggested in the early posts - sell most, and keep one or two.
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Re: When is a Wine Worth Too Much to Drink?

#71 Post by alan weinberg » April 29th, 2020, 6:42 pm

AndrewH wrote:
April 29th, 2020, 2:50 pm
alan weinberg wrote:
April 28th, 2020, 2:11 pm
it’s just wine and economics. I always wonder if these people who say they look at the wine at what they paid for it and not the current value would sell their appreciated house or stocks for what they paid for them.
The endowment effect is strong with many people.

IF I had wines that had increased 300-400% or more I'd do as suggested in the early posts - sell most, and keep one or two.
my magnum of 90 La Tâche cost $500. It’s now worth about $15,000, 30 times what I paid or 3000% increase.

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Re: When is a Wine Worth Too Much to Drink?

#72 Post by john stimson » April 29th, 2020, 6:47 pm

You should have put the money in the stock market.

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Re: When is a Wine Worth Too Much to Drink?

#73 Post by john stimson » April 29th, 2020, 7:14 pm

alan weinberg wrote:
April 29th, 2020, 6:42 pm
AndrewH wrote:
April 29th, 2020, 2:50 pm
alan weinberg wrote:
April 28th, 2020, 2:11 pm
it’s just wine and economics. I always wonder if these people who say they look at the wine at what they paid for it and not the current value would sell their appreciated house or stocks for what they paid for them.
The endowment effect is strong with many people.

IF I had wines that had increased 300-400% or more I'd do as suggested in the early posts - sell most, and keep one or two.
my magnum of 90 La Tâche cost $500. It’s now worth about $15,000, 30 times what I paid or 3000% increase.
Wait--ignore whatever I said before. Sell!

More seriously, if I remember correctly, it was a serious strain for you to buy this wine when you did. Now, I'm assuming that you have the freedom to do whatever you want with it--sell, or DRINK. I learned at some point a while ago that money on it's own doesn't make you happy. It's the freedom that it gives you that makes you happy. So now you have the freedom to do whatever you want with it. I would think that the sacrifice entailed in acquiring it, and the emotional investment in saving it and maturing it would make you want to drink it. But it aint my wine.

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Re: When is a Wine Worth Too Much to Drink?

#74 Post by alan weinberg » April 29th, 2020, 7:56 pm

john stimson wrote:
April 29th, 2020, 7:14 pm
alan weinberg wrote:
April 29th, 2020, 6:42 pm
AndrewH wrote:
April 29th, 2020, 2:50 pm


The endowment effect is strong with many people.

IF I had wines that had increased 300-400% or more I'd do as suggested in the early posts - sell most, and keep one or two.
my magnum of 90 La Tâche cost $500. It’s now worth about $15,000, 30 times what I paid or 3000% increase.
Wait--ignore whatever I said before. Sell!

More seriously, if I remember correctly, it was a serious strain for you to buy this wine when you did. Now, I'm assuming that you have the freedom to do whatever you want with it--sell, or DRINK. I learned at some point a while ago that money on it's own doesn't make you happy. It's the freedom that it gives you that makes you happy. So now you have the freedom to do whatever you want with it. I would think that the sacrifice entailed in acquiring it, and the emotional investment in saving it and maturing it would make you want to drink it. But it aint my wine.

.
ha. Last big wine like this I opened, a magnum of 1990 DRC Richebourg—for a big birthday party—was corked. That hurt.

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Re: When is a Wine Worth Too Much to Drink?

#75 Post by john stimson » April 29th, 2020, 10:11 pm

Actually, that's the one thing--that risk--that might make me want to sell single exalted bottles.

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Re: When is a Wine Worth Too Much to Drink?

#76 Post by Andy Steinman » April 29th, 2020, 10:18 pm

An old friend aptly referred to his collection of a list-only "Cult Wine" accumulated over 25+ years worth vastly more than it's original cost as his "401W".
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Re: When is a Wine Worth Too Much to Drink?

#77 Post by Michael O'Brien » April 30th, 2020, 10:11 am

Marshall Manning wrote:
April 28th, 2020, 1:07 pm
Michael O'Brien wrote:
April 28th, 2020, 12:40 pm
I buy to drink and share with others and for no other reason. I do not drink the value; I drink the wine.
I've always purchased with that intention, too, but have just been contemplating selling off a case or so. Maybe just getting older, or realizing that I usually spend more than I should on wine?
I am definitely in the "older" category. Retired in 2002. Over the years, I have slowly reduced my holdings by drinking them down, offlines, house parties. I have also been far more selective about what I buy and I almost never buy a case of anything. With the exception of Thomas PN, I am no longer on any mailing lists. My current strategy is to buy mostly old world wines with 10 or more years of age on them and mostly in quantities of three. For me limiting purchases to three is a function of my age. Daily drinker Champagne and exceptional bargain vintage Champagne (2008 Cristal for $180 and 2009 Dom for $112) are the exceptions to the rule of threes. Selling was never a part of my strategy to reduce my holdings. Self-discipline with purchasing was my strategy but I will admit there were times when I failed to execute my strategy.[wink.gif] Over time though, it has worked out.[winner.gif]
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Re: When is a Wine Worth Too Much to Drink?

#78 Post by Jay Miller » April 30th, 2020, 11:33 am

Regarding '99 Verset in particular. I opened my last 750 about 2 years ago and it was delicious. Despite that I decided to sell the magnum I had given the ridiculous price increases. Before it sold a friend talked me into keeping it so I could open it alongside his magnum of 1999 Allemand Reynard.

Hopefully that will happen some day.
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Re: When is a Wine Worth Too Much to Drink?

#79 Post by Sarah Kirschbaum » April 30th, 2020, 1:49 pm

Remember regret can cut both ways. My husband, a number of years ago, sold '85 Jayer Richbourg for about $5k, figuring he'd rather have that money in his bank account.

Wait for that to sink in...
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Re: When is a Wine Worth Too Much to Drink?

#80 Post by David Glasser » April 30th, 2020, 8:02 pm

When the pleasure of drinking it is less than the discomfort associated with telling my wife how much it is worth.

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Re: When is a Wine Worth Too Much to Drink?

#81 Post by Stan Y. » May 1st, 2020, 5:37 am

That 30x Burgundy appreciation has made it much easier rationalize spending money on another expensive hobby or two that I take great joy from. When pricing gets that silly I'm not going to enjoy drinking something anyway.
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Re: When is a Wine Worth Too Much to Drink?

#82 Post by Rob_S » May 1st, 2020, 7:39 am

I bought a 6l of 2009 pontet canet for $999 from k&l on the first day of futures and sold my position for $3k before taking delivery. It's probably worth more now but I came to the realization that even though it's my wedding year, when would we ever be able to open it? Plus a triple in 3 months is a pretty good IRR...

The 2015 DRC RC I got for $3.3k I may never drink either and bought it with that in mind.

I'm a big believer of the cost is what you bought it for and that was sunk a long time ago. Don't worry or care about current value. On the other hand it's a relationship to scale. A few hundred dollars isn't immaterial to me but also isn't really meaningful. Bought it for $200, it's now worth $600? Don't even hesitate. Drink up. That 2015 DRC though in 20 years it might be $50k+. That scale becomes harder for me to ignore.

Then again there is still a much greater than zero chance I drink it anyway.
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Re: When is a Wine Worth Too Much to Drink?

#83 Post by Nathan V. » May 1st, 2020, 8:02 am

Robert.A.Jr. wrote:
April 29th, 2020, 4:52 am
Jürgen Steinke wrote:
April 29th, 2020, 3:08 am
I seldom sell wines. But I did. And the motive was always that I thought the wine is expensive but not really good. At least I could have the same pleasure or even more with wines of the same type but for less money. Some people say you get what you pay for. I have learned that this is not always true. A wine can be expensive but not really outstanding. This is something people who focus too much on a label will never believe.
The inverse is true as well! Lots of outstanding wine out there for fair prices, perhaps just not with the so-called fancy labels. I drink many of these wines.

The only wine I ever sold was 1991 Maya. I had a few of them that I sold in 1999 for $475 each. Was an insane price back then, and back then, I actually did need a little spare cash. Once in a while I regretted it, but just checked, and I can still grab some for $495.
Ha! I did the same thing! I sold that wine along with all my other early 90s cult wines to Premier Cru and used the proceeds to buy 1996 Barolo and my first bottles of Clos Rougeard among other Loire wines. 2 cases of 1996 Croix Boissée at $16.99 a bottle before case discount. It was a case stack at Mills in Annapolis.


To Marshall-

I sell wines all the time, mostly for space reasons. This has included things like Rhys, Jadot, Pavelot that I either got my money back or took a loss.

For financial reasons, I struggle with Verset, but have decided to keep those after a discussion with Eric. I might sell Allemand (my oldest bottles still have the $30 price stickers on them, I like to bring these to offlines), I have sold Rougeard, Giacosa, Conterno, Cappelano, Mugnier and even a few Mugneret-Gibourg because the return was something 5 to 10x. The only sale I regretted was the Giacosa white labels but they did help finance a glorious trip to France so maybe that's mixed.

Over the last few years, selling has become super easy for me as the Leland Little auction house is only a few minutes away, so that changes the calculus.
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Re: When is a Wine Worth Too Much to Drink?

#84 Post by Stan Y. » May 1st, 2020, 8:58 am

Talk me out of selling my '90s Verset Nathan :-). They're pretty good but $800 good?
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Re: When is a Wine Worth Too Much to Drink?

#85 Post by Bob Davis » May 1st, 2020, 9:33 am

Marshall, i got on the Marcissan list to drink them but once I saw I could get 3-5x what I paid for them, off to auction they went. It all went to college tuition. I ave one bottle left out of probably 5 cases purchased.

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Re: When is a Wine Worth Too Much to Drink?

#86 Post by Chris Seiber » May 1st, 2020, 9:42 am

Marshall Manning wrote:
April 29th, 2020, 9:07 am
Thanks to all of you for your thoughts on this. I'm still debating...it's a combination of trying to balance passion and emotional connection with certain wines and producers, some which I might never have the opportunity to try again, but also trying to do what makes economic sense.
Make sure to consider the many other alternatives besides the "wine versus Italy" framework. One common mistake people, companies, governments, etc. make is framing a decision as a binary choice between two options, when there are usually many more options than just those two if you widen your thinking.

A good example from an excellent book I read ("Decisive") was when Quaker Oats decided to buy Snapple for $1.7 billion - yes, billion - back during the heyday of its popularity (something I never got in the slightest). As they dug into the decision, Quaker became focused solely on the decision of should they buy it or not. But they lost sight of the huge set of options that really existed -- what other things could they have done with $1.7 billion besides purchase Snapple? What were the pros and cons of those other options? Properly framed, the decision should not have been "buy Snapple or don't buy Snapple?" it should have been "buy Snapple, don't buy Snapple, keep the $1.7 billion for another time, or use all or some of it for other things now." By the way, they later sold Snapple for $300 million -- $1.4 billion down the drain.

The authors liken it to being a large dark room, with a flashlight just shining on one small area of the room. What if you turn on the lights or pan the flashlight beam around and look at everything else in the room instead of just that one thing?

Are there other places you could save the money to make that trip? Would those sacrifices be greater or smaller than the sacrifice of selling those appreciated bottles? Could you borrow it off your home equity line or something? Could you sell half of those appreciated bottles instead of all of them, and maybe combine that money with a smaller amount of savings from something else? Might you enjoy some less expensive trip to a different spot just as much as going to Italy?

I'm not at all trying to tell you what to do, just trying to encourage your thinking process here. Best wishes to you whatever you end up doing.

Nathan V.
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Re: When is a Wine Worth Too Much to Drink?

#87 Post by Nathan V. » May 1st, 2020, 9:45 am

Stan Y. wrote:
May 1st, 2020, 8:58 am
Talk me out of selling my '90s Verset Nathan :-). They're pretty good but $800 good?
They're the best wines that I've had in the last few years. Better than Chave, Gonon, Jamet, you name it. Better than anything I've had that sells in that price range. Eric's argument is more of a humanist/moral argument that resonated with me but I don't think would get much traction here. It's more personal.
ITB-ish.
V = V a n der g r i f t

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Yao C
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Re: When is a Wine Worth Too Much to Drink?

#88 Post by Yao C » May 1st, 2020, 12:19 pm

Nathan V. wrote:
May 1st, 2020, 9:45 am
Stan Y. wrote:
May 1st, 2020, 8:58 am
Talk me out of selling my '90s Verset Nathan :-). They're pretty good but $800 good?
They're the best wines that I've had in the last few years. Better than Chave, Gonon, Jamet, you name it. Better than anything I've had that sells in that price range. Eric's argument is more of a humanist/moral argument that resonated with me but I don't think would get much traction here. It's more personal.
I just think we're far beyond talking about mere points and tasting descriptors, and into the realm of the emotional. We expect wines of this caliber to elicit emotions and memories. How can you put a price on that? There can be no exchange rate from one type of emotion to another. By that same token, there is no rational way to evaluate 'better than' between wines that are of this caliber (which I admit is rare, and we can certainly differentiate between wines that are of this caliber, and wines that are not...)

Just my opinion, as someone that has had more than my fair share of '90s Verset...
C h 0 o n 6

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lleichtman
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Re: When is a Wine Worth Too Much to Drink?

#89 Post by lleichtman » May 1st, 2020, 2:17 pm

Marshall Manning wrote:
April 28th, 2020, 12:03 pm
I've been buying and drinking wine for over 30 years now, and while everything I've purchased over the years has been acquired with the intention of drinking it at some point, I find I have a few bottles that are worth far more now than I ever imagined. I've always thought that the value of a particular wine is what I paid for it, and have never felt bad about drinking them (or sharing them with others) if they've appreciated in a normal way.

But what about those wines that appreciated due to rarity and are now commanding $500-1000 per bottle? I've always been very middle class, so while I've spent a good sum on wine over the years, it's been more about building a fun, interesting cellar, but with affordable (mostly $20-$75 bottle cost) wines that I enjoy. I just happened to pick up a few things along the way that have gone insane recently ('99 Verset Cornas, as an example), and I'm thinking about selling a few of these gems.

I know I will really love the wines when I open them...but is the enjoyment of a case of wine worth the current price? I could sell a mixed case of various items that originally cost under $500 and pay for a trip to Italy for my wife and I. But I also know that I will never be able to drink or afford these wines again unless I open the ones I own. Obviously this is a very personal issue, I just wonder how others deal with it and if there is a point in people's minds where they think "I can't afford not to sell this."
I'm at an age where there is no such thing as too expensive to drink unless I want to leave it to my kids (I don't) We have been drinking older vintage Champagnes, Cabs, Burgundies, and Barolos. Some of these are in the $ 500-1000 range now but were in the low $100 range when first purchased. OTOH, if you need to sell to make a trip, I would recommend to just put off the trip and drink. These sound like wines you may never ever see again and Italy will always be there.
Lawrence G. Leichtman

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Re: When is a Wine Worth Too Much to Drink?

#90 Post by Tom Chen » May 1st, 2020, 2:32 pm

To sell or not to sell.

I would not sell just to realize a profit and stick then stick that money in the bank or in the market. That gets forgotten pretty quickly, unless you used it to buy some early stage stock like Apple or Amazon and then you have a great story to tell.

I would sell if that money was then used for something very memorable.

While I sold the La Tache because my wife said she could not enjoy drinking a bottle worth that much, on the flip side, after we had our first child, we took a bottle of 1971 Petrus (her birth year) to a really nice restaurant (Studio in Laguna Beach) as soon as she felt comfortable going out and drinking a bit, and to this day, she still remembers that night over 14 years ago). I got so much more value drinking that bottle and having those memories than realizing some big profit from selling it.

Memories are forever.

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Re: When is a Wine Worth Too Much to Drink?

#91 Post by David Kubiak » May 1st, 2020, 6:41 pm

For what it’s worth I recently drank a Leroy bottle I could have sold for $3,000 or so. It was meh. Not corked, not heat damaged, just meh.

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