DRC Prices . . . in 1978

From an advertisement I found wedged between some old photographs for a Father’s Day sale by 67 Wines and Spirits: in June 1978.

1959 Echezaux - $68.79
Grand Echezaux
1959 - 79.49
1961 - 122.89
1962 - 74.99
1966 - 61.89
1935 - 153.49
1947 - 131.49
1952 - 77.25
1955 - 97.89
1959 - 109.79
1961 - 162.89
1962 - 89.95
1966 - 82.99
La Tache
1947 - 163.00
1952 - 119.95
1953 - 114.95
1959 - 124.99
1961 - 138.49
1962 - 118.49
1966 - 92.49
Romanee Conti
1955 - 195.00
1959 - 161.69
1961 - 175.00
1962 - 149.69
1964 (Mag) - 259.00
1966 Mag - 249.95

Would you like to double your money ?? [cheers.gif] [wow.gif] neener [snort.gif]

It seems low but $200 back in 1978 are worth about $800 just adjusted for inflation. And if you invested those $200 at 8% per year until today, you’d have $6k (or, more realistically, $13k at 10%)

How about I assume I had $1,000 and I invested half in an index fund and half in 2 mags of the '66 RC? Diversification! [cheers.gif]

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You’d be richer and drinking better! [cheers.gif]

Interesting that the prices for '61s are higher than '62 when the latter vintage was much better for red Burgundy.

When '78 mixed cases first became available (1981? 82?), I was in a tasting group with some ITB folks. I could’ve not only purchased it for $700, but also '71 mixed cases for the same price. That was a lot of money to shell out all at once so I had to pass.

$100 was a lot of money in high school, though.

These prices are actually higher than I would have thought.

Bubble prices.

I agree, except fpr the age. was offered some late 1980s La Tache upon release at a price that was barely in 3 digits. I declined. :frowning:

So basically you’d much rather have put your money in the S&P 500.

too late to put in an order?

I bought a b of 80 LT back in the day, many years post release, for $100. Spectacular. Underrated vintage.

In recent years the consensus is that the earlier vintage may have taken over the later. Sadly it’s entirely academic as far as I am concerned.

That could very well be. It’s been at least 25 years since I’ve tasted a wine from either vintage. My experiences are from the mid 80s through mid 90s. Back then, there was no question.

At my job at the auction house I occasionally describe vintage menus and wine lists, c. 1900-1960’s. I give them all at least a quick review and of course the prices seem so low today.

On a relative level certain wines were always priced the highest. Yquem, Lafite and a few other French were the highest priced. Burgundy was typically described by Negociant or producer and village. German Riesling was also priced at mid pack or higher relative to the French listings. California offerings were chablis, sherry, port etc. Apparently Sparkling Burgundy(US) was popular at one time on lists. I even found a trade advertisement touting its’ profitability.

Did not buy the LT, but I did buy a bottle of 80 DRC Grands Echezeaux for $35.

I was a pediatric resident that year and barely had money to live. Wine was still a luxury then and paying $100 for wine would have been unthinkable.

from( Esquin Imports Wine Merchants); link- Guide to the Dennis Foley Papers

Funny (to me) story. Around either the late '80s or very early '90s. A guy at the company I worked for used to travel to France (Burgundy) very regularly to buy wine. Maybe 10 of us bought ‘shares’ in his next trip. Turned out he came back with a huge number of cases of 1980 Leroy burgundies, bought either through the importer or directly from the domaine. For pricing, I remember the good grand crus (like say Chapelle-Chambertin) were just around $50 to me. I wound up with 4-5 cases, think I paid $2,500 - $3,000 for those. Was ‘house wine’ for a year or so. Never happened again.

A deli owner would occassionally put a stashed bottle of 1978 Jordan Cab on the shelf in 1983-4.
Dennis would buy it for about $60 bring to the store and trade even for a 78 La Tache: the Jordan was super desirable, while the La Tache would not reveal anything for many years to come.
We made money on those trades stealing the La Tache out of Switzerland.