As any wine drinker knows, drinking wine can be a very expensive habit! Sure, some wine is relatively cheap, but other wine bottles can be extremely expensive, potentially pushing hundreds or thousands of dollars per bottle. This, of course, can make wine drinking an extremely expensive endeavor. But, why? Why is some wine so expensive?
Believe it or not, the reasons are, by and large, perfectly obvious. Of course, some are also related to the various quirks of human psychology.
First of all: Good wine is expensive to make. There is a huge difference between a store-bought brand that you can get anywhere and a rarer vintage. Supplies are more expensive, and this applies roughly across the board. For example, grapes have to be of the highest quality and therefor adjust the price, and these grapes have to be grown and maintained at appropriate temperatures in order to assure that they are of high enough quality. This also means that staff must be kept at a vineyard to appropriately ensure that the grapes are growing the way they should, and this requires a level of expertise that more commercial wine may not have access to.
This same idea applies to other facets of the wine, including aged barrels, tanks, expertise, a range of other ancillary equipment, and more. It is worth noting that good wine has to be aged in more expensive barrels, like oak, as well. This helps to ensure that wine has a great consistent flavor – one that people will actually pay more money for. It also means that the wine will be more expensive to maintain and age, requiring manufacturers to raise the price in order to cover their costs and make a profit.
Second, keep in mind that scale matters when it comes to the price of wine. Good wine is also far rarer. This is because good wine has more expensive and high-quality ingredients, as well as attention to detail. This rarity makes it harder for good wine to be produced, and this lack of scale can impact its quality. As a result, costs increase in order to allow for wine creators to recover their costs on the wine.
Age also impacts the price of wine. When they age, red wines can get more expensive. Of course, aging doesn’t mean that wine can just sit in a refrigerator. Wine has to be left in barrels that have to be constantly maintained, monitored, and stored at appropriate temperatures. This again increases the costs of making the wine, and this means that vineyards must increase the price of the wine in order to recover their profits.
It’s also important to keep in mind that high-quality wine tends to have an expert winemaker monitoring the entire process. A worthwhile winemaker will appropriately monitor the quality of wine and make sure that that you are getting your money’s worth. Winemaking is a true art form, and these individuals have to engage in extensive education in order to appropriately develop their craft. Of course, this also isn’t cheap, and a good winemaker can be very expensive. This, in turn, drives up the price of wine.
Of course, there are also supply and demand related reasons that drive the price of wine higher. Wine, has a reputation for necessitating a high level of expertise, and the more someone is likely to enjoy a wine – and the more likely they are to be willing to pay more for it. In other words, as the price increases, the more someone will want the wine! This is a strange twist on the laws of supply and demand, but it’s also been validated by numerous studies that show that price can impact someone’s enjoyment of a substance or service.
In other words: Wine is more expensive for reasons that make sense and for reasons that are more psychological and related to the laws of supply and demand. Keep that in mind when you drink your wine: Some wine is more expensive because it will make you feel it is justified and willing to pay more in order to drink it!