"There is so much good wine out there today"

[Frank_Drew]

@Arv R

Some of the things that I find so amazing/awesome

• the range of great vintages in the last decade+ in France
• the strength of the greenback
• nationwide, even intl shipping
• a convenient, 24-7 FedEx site
• discovering Italian wines later in life
• wine boards who can expound on every/any niche
• checking wine prices / reviews on my mobile “smart” phone
• the prevalence of corkage policies
• modern dishwasher safe quality stems, and quiet Bosch’s
• the anachronistic pricing of Rioja (we quaffed a tasty $8 2010 Lopez de Haro the other night)
• the general vigor of dessert wines, making older ones reasonable bets for backfilling

These are truly the greatest times in recorded human history.

Unless you happen to live in Syria (Somalia, Sudan, Greece, Iraq, etc., etc., etc…).

[Jay_Miller]

@Brandon J.

So I have some questions because this topic is fascinating to me.

#1 - Doesn’t simple economics tell us that if our supply continues to grow where our demand is staying flat…the market will demand a shift in price. I’m talking about general consumers here, not Berserker consumers. The general consumer will instantly go to another wine if they see that it’s cheaper and of equal quality to what they’re used to.

Allow me to introduce you to the concept of Veblen goods…

[Drew_Goin]

Jay Miller - you beat me to it!

[Dennis_Kanagie]

@DavidZ

even when I started drinking in earnest 15 years ago.

Where’s Earnest and why is it such a great place to drink?

@Jay Miller

Allow me to introduce you to the concept of Veblen goods…

Dude, you forgot the link.

Veblen good

Always link to Wikipedia. Always.

[Wes_Barton]

@Jay Miller

@Brandon J.

So I have some questions because this topic is fascinating to me.

#1 - Doesn’t simple economics tell us that if our supply continues to grow where our demand is staying flat…the market will demand a shift in price. I’m talking about general consumers here, not Berserker consumers. The general consumer will instantly go to another wine if they see that it’s cheaper and of equal quality to what they’re used to.

Allow me to introduce you to the concept of Veblen goods…

Which is why there’s no such thing as simple economics. The size of that high-end segment took a hit, for sure. But that doesn’t mean all those producers felt it evenly. There’s a difference between gold standard and coattail rider. Also consider, while the economy took a bit hit 8 years ago, a lot of people at the high end felt little pain. Plus, healthy high-end producers have a good profit margin. They can simply cut production volume to maintain scarcity. Rumor was last downturn some of those producers simply didn’t release their surplus wine. Better to take a hit on production cost than a flood the market and devalue the brand you built up.

So, don’t hold your breath expecting release prices of specific well-regarded wines to drop. You might find some of those wines for less on the secondary market. More broadly, there is plenty of very good wine at whatever price you want to pay. Some of those niches have grown, and producers who’ve found them and deliver are being rewarded.

[M_Chacchia]

@Arv R

Some of the things that I find so amazing/awesome

• the range of great vintages in the last decade+ in France
• the strength of the greenback
• nationwide, even intl shipping
• a convenient, 24-7 FedEx site
• discovering Italian wines later in life
• wine boards who can expound on every/any niche
• checking wine prices / reviews on my mobile “smart” phone
• the prevalence of corkage policies
• modern dishwasher safe quality stems, and quiet Bosch’s
• the anachronistic pricing of Rioja (we quaffed a tasty $8 2010 Lopez de Haro the other night)
• the general vigor of dessert wines, making older ones reasonable bets for backfilling

These are truly the greatest times in recorded human history.

Great points all Arv. Amazing/awesome indeed.

[Morten_Batbukt]

@Jay Miller

… At least until Pepiere starts getting allocated.

Then you buy Jo Landron/Domaine de la Louvetrie

[Nathan_Smyth]

SMFH…

[Nathan_Smyth]

I guess maybe if the designers got the opacity just right, then the lab rats would never bother wondering what existed beyond the bubble.

Because with sufficiently obfuscatory opacity, the rats would never be consciously aware that the bubble exists.

But then you have to wonder what happened to the intuition & the curiosity of the rats - how that was suppressed. Maybe with pharmaceuticals?

It’s certainly a fascinating exercise in mass hypnosis.

[Howard_Cooper]

@Arv R

Some of the things that I find so amazing/awesome

• the range of great vintages in the last decade+ in France
• the strength of the greenback
• nationwide, even intl shipping
• a convenient, 24-7 FedEx site
• discovering Italian wines later in life
• wine boards who can expound on every/any niche
• checking wine prices / reviews on my mobile “smart” phone
• the prevalence of corkage policies
• modern dishwasher safe quality stems, and quiet Bosch’s
• the anachronistic pricing of Rioja (we quaffed a tasty $8 2010 Lopez de Haro the other night)
• the general vigor of dessert wines, making older ones reasonable bets for backfilling

These are truly the greatest times in recorded human history.

In 1983, most of the above was not true, but I could buy 1982 Cos d’Estournal for $130 a case, 1982 Leoville las Cases and Ducru Beaucaillou for $150 a case, first growth 1982s for $30 something, 1980 DRC Grands Echezeaux for $35 a bottle, 1/2 bottles of 1980 d’Yquem for $25, etc. Even if we limit your last comment to times for rich people to buy wine (and despite the fact that dishwashers were much louder then), I don’t see it.