The Market for Necrophilia. Why would someone pay $92 for 1977 Lynch Bages?

Going through the list of Bordeaux at K&L auctions, I see this Lynch at $92. I figure it’s some strange opening bid that K&L’s consignor required, and way too much, and nobody in their right mind will pay that, but then, I would be wrong.There have been multiple bids starting at $65, so not only is there a bid at $92 (and there may be more) but there is a second bidder who would pay $90. The Lynch 1977 is not by the way, some extraordinary Lynch that somehow managed to beat the weather nasties of the 1977 vintage; two years ago at a Lynch vertical, the bottle was dead; and there was an emaciated quality to it that suggested that there was never very much to start with.

probably a birthyear wine. My guess would be someone just hunting for some reasonably priced bottles that maybe doesn’t have the greatest knowledge of what might or might not be alive and kicking.

I’m can’t speak as to this particular bottle, but I am generally not only willing but excited to purchase lowly burgs from unheralded vintages with a lot of age on them if they are well-stored and under $100. I find that more often than not, I am surprised on the upside. That may be very different than the wine you references as I usually can’t find any note on the burgs so I’m not faced with evidence that they are likely bad. But if this were a 1977 burg from a producer that is the equivalent of Lynch Bages in terms of reputation, I would probably jump on it.

A

What’s worse; paying $100 for the way-past-prime wine from your birth year or having it be just good enough that you feel obligated to drink it even though it is way-past-prime and would otherwise be passed up at the table?

I’ve got some crummy Bordeaux from my birth year to decorate the cellar and say I’ve done that. It was basically as I describe above…just good enough to force me to consume it.

Live and learn.

Cheers,
fred

The two obvious answers are birth year and to fill a vertical.

I am skeptical about the birth year, since I figure somebody shopping at K&L would be sophisticated enough to know about Port. I actually googled “Birth year wine 1977”, and on page 1 there was enough information about Bordeaux for any casual visitor to realize that buying Bordeaux was not a good idea.

Filling a vertical I suppose makes some sense, because it is a must have regardless of price. It would have to be a major one which highlights EVERY vintage regardless of quality for the years selected, and I wonder how many of those occur.

Perhaps for those who prefer older wines and their lovely quintary flavors

Maybe ,simply the price history ?
wine searcher average price 180 $ ??

While I cant comment on '77 Lynch, 10 years ago I did enjoy a couple of bottles of '77 Latour. I think the days of buying Lynch and Pichon for sub $70 are behind us. The run up in current release prices has obviously raised prices on back vintages. Regardless of vintage quality, there are people out there that will pay for the “label.” I would imagine the '77 Lynch would be tired and way past its prime, if it ever had a prime.
Alex, I agree with you 100%. Off vintage random burgs can surprise the hell out of you. I seek them out.

I have done similar purchases at various price points in order to experience first hand what an old “wet” vintage tastes like or how an old “warm” vintage develops. Education can also be a factor in these type of purchases.

There are cheaper ways to find out what a bad wine tastes like. Sierra Carche for example!

Because to them it is worth it. There are many reasons why that may be but the market is set by what people think something is worth, not what is in the bottle.

Precisely. But I what I am wondering is why someone, who has some wine knowledge, would think that a rational use of their money, considering the alternatives you can buy for the same money.

Yes, but I would expand that statement to include the $$$ that some people throw at a bunch of wines!

Bruce

Mark,

Remember that the universe is made up of protons, neutrons, electrons, and in this case…morons.

I’m pretty sure you could find someone who would feel that way about at least a few bottles in most of our cellars. Different strokes…

Why do people pay $1000 for a single bottle of Screaming Eagle when there are other incredibly good Cali Cabs for a fraction of the price (Kapscandy, Maybach, etc)? Simple… people don’t always behave rationally.

Wine price discovery has pockets of extreme inefficiency.

The bottle seems to have disappeared…

You know, the moron may be the most fascinating particle of them all.

+1 I suffered through a 1971 Clos de Marquis because it was a gifted birth year wine for my wife… brought from France by someone who purchased it locally. I’ve got 1973 for a birth year; what does that leave me with, aside from Dom