There’s Absolutely No Reason To Spend More Than $3 on a Bottle of Wine

Started by jimmy olsen, November 03, 2011, 05:21:07 PM

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The Minsky Moment

Quote from: crazy canuck on November 04, 2011, 01:13:35 PM
Not so much here JR.  It is not uncommon for local producers to price their wine in the 30-40 dollar range.  Way overpriced.

My knowledge of Canadian wine basically begins and ends with the Ontario icewines. (and icewine tends to have higher production costs and lower yields for obvious reasons).  I am aware there is production in BC but I have never tried any.  There is a dynamic in some local wine markets whereby prices get bid up beyond what the quality level would normally support simply because of physical proximity to affluent consumers who are willing to pay premiums for a local, "artisanal" product - this can be seen with respect to wine production in Long Island (NY).
The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.
--Joan Robinson

Malthus

Quote from: fahdiz on November 04, 2011, 12:40:55 PM
Quote from: Malthus on November 04, 2011, 12:36:03 PM
Way I'd put it is that below a certain price theshold, chances are the wine will be inferior or very rough tasting ... but that threshold is not very high. A $12 bottle can easily be as good to the average idiot like myself as a $40 bottle or an $80 bottle, but chances are good on average I can tell the difference between a $12 bottle and a $6 one.

It's not even an indicator of "average idiotness". ( :D ) Some $40 wines are quite simply overpriced.

Heh, I was throwing in some self-deprication.  ;) I make no pretence to having a cultivated palate, so to my taste indeed some of the $40 product is likely to be overpriced ... perhaps some real expert can tell the difference, but I can't. Hence, except for odd products like icewine, I'm reluctant to spend more than (say) $18 for a bottle. 
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane—Marcus Aurelius

viper37

Quote from: Malthus on November 04, 2011, 12:36:03 PM
Way I'd put it is that below a certain price theshold, chances are the wine will be inferior or very rough tasting ... but that threshold is not very high. A $12 bottle can easily be as good to the average idiot like myself as a $40 bottle or an $80 bottle, but chances are good on average I can tell the difference between a $12 bottle and a $6 one.
Never gone above 50$ myself, but with wines, it really depends on what type of wines you like more than the price.  I like poutine as much as the next guy, but 12$ wine is over-rated for this kind of meal :P
I don't do meditation.  I drink alcohol to relax, like normal people.

If Microsoft Excel decided to stop working overnight, the world would practically end.

grumbler

Quote from: Gups on November 04, 2011, 09:46:58 AM
I know the US is cheaper than the UK - a good rule of thumb is just to assume parity between sterling and the dollar, but I can't imagine the average weekly supermarket shop is $77 for a family (assuming that means a couple and at lease one kid).
We are talking "household" here, so it does not average even three people.  It was 2.6 some years ago; might be 2.5 by now.
The future is all around us, waiting, in moments of transition, to be born in moments of revelation. No one knows the shape of that future or where it will take us. We know only that it is always born in pain.   -G'Kar

Bayraktar!

viper37

Quote from: Malthus on November 04, 2011, 01:22:37 PM
Heh, I was throwing in some self-deprication.  ;) I make no pretence to having a cultivated palate, so to my taste indeed some of the $40 product is likely to be overpriced ... perhaps some real expert can tell the difference, but I can't. Hence, except for odd products like icewine, I'm reluctant to spend more than (say) $18 for a bottle. 
2000$ strollers, 12$ wine.  Something is wrong here.  :P

Seriously, you've hilighted what is most important here: your tastes, not those of an expert. 
Of course, I'm considered a wine snob by my friends because I refuse to drink some products of inferior quality.  I just don't like being sick.  But I know what I like, and it ain't about price.
I don't do meditation.  I drink alcohol to relax, like normal people.

If Microsoft Excel decided to stop working overnight, the world would practically end.

Razgovory

Quote from: grumbler on November 04, 2011, 01:39:59 PM
Quote from: Gups on November 04, 2011, 09:46:58 AM
I know the US is cheaper than the UK - a good rule of thumb is just to assume parity between sterling and the dollar, but I can't imagine the average weekly supermarket shop is $77 for a family (assuming that means a couple and at lease one kid).
We are talking "household" here, so it does not average even three people.  It was 2.6 some years ago; might be 2.5 by now.

Most people don't live with one other person and a torso.
I've given it serious thought. I must scorn the ways of my family, and seek a Japanese woman to yield me my progeny. He shall live in the lands of the east, and be well tutored in his sacred trust to weave the best traditions of Japan and the Sacred South together, until such time as he (or, indeed his house, which will periodically require infusion of both Southern and Japanese bloodlines of note) can deliver to the South it's independence, either in this world or in space.  -Lettow April of 2011

Raz is right. -MadImmortalMan March of 2017

crazy canuck

Quote from: The Minsky Moment on November 04, 2011, 01:18:32 PM
I am aware there is production in BC but I have never tried any.  There is a dynamic in some local wine markets whereby prices get bid up beyond what the quality level would normally support simply because of physical proximity to affluent consumers who are willing to pay premiums for a local, "artisanal" product - this can be seen with respect to wine production in Long Island (NY).

That is effectively what has happened here.  The local restaurant industry makes a point of serving BC wines and it has become a status symbol to have a good private supply on hand.   As a result some of my favourites have become quite pricey.

If you ever want to try a BC wine I recommend you start with a bottle of Notte Bene http://www.notabenewine.com/ although it might be hard to impossible to get.

crazy canuck

Quote from: viper37 on November 04, 2011, 01:41:53 PM
I'm considered a wine snob by my friends because I refuse to drink some products of inferior quality.  I just don't like being sick.  But I know what I like, and it ain't about price.

:thumbsup:

fhdz

and the horse you rode in on

MadImmortalMan

Been going to wineries in California for years. One distinct trend I have seen is that places I used to go years ago that had been making great wine become more popular and then get more expensive. As that happens, the quality of the wine either plateaus or declines. Having to pay for a tasting is a big warning sign. Almost all of Napa and Sonoma have gone that way. You can still get great wine there, but it's not as cost effective as finding great wine in lesser known wineries in Placerville, Lodi, San Luis Obispo or Livermore. The trick is finding them as they are getting really good at making the product but before they blow up.
"Stability is destabilizing." --Hyman Minsky

"Complacency can be a self-denying prophecy."
"We have nothing to fear but lack of fear itself." --Larry Summers

crazy canuck

I agree MiM.  The difficulty here is that the number of producers is quite low (the viable land area for producing good wine here is limited) and so it is almost impossible to find good small inexpensive producers.

If I lived in California I would make it my weekend sport to go out and find such places.

The Brain

If your income/consumption ratio is so poor that you have to worry about finding a good price then maybe you are an alcoholic or worse working class.
Women want me. Men want to be with me.

Jacob


crazy canuck

Quote from: The Brain on November 04, 2011, 03:08:49 PM
If your income/consumption ratio is so poor that you have to worry about finding a good price then maybe you are an alcoholic or worse working class.

Its all about finding good quality.  If I could be assured that price scaled with in direct relation with quality then I wouldnt worry about it.

The Brain

Quote from: crazy canuck on November 04, 2011, 03:12:55 PM
Quote from: The Brain on November 04, 2011, 03:08:49 PM
If your income/consumption ratio is so poor that you have to worry about finding a good price then maybe you are an alcoholic or worse working class.

Its all about finding good quality.  If I could be assured that price scaled with in direct relation with quality then I wouldnt worry about it.

Sounds to me that it's about finding good value. Are you sure you're not a poor?
Women want me. Men want to be with me.