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Glancing thru the current Wine Spectator yesterday (I sheepishly admit to looking for my score)
and I have to say I think I'm out of touch. The prices ( the focus of the issue is Napa Cabs) are unbelievable. Many, many bottles from wineries I've never heard of over $100. Plenty over $200.
Maybe none under $50.
I can't imagine there are enough investment bankers and hedge fund managers to buy up all of these wines! The rush to China seems to have cooled, so who is buying these?
Steve
Follow Ups:
...the serious cult cabs like Dunn and Screaming Eagle, for example, have quite a following and can be hard to get.
(Enophile has been know to collect some of these.)
Many of those in the WS you mentioned I have never heard of so I wonder who is paying the big bucks for them.
Maybe Cameron Hughes and other negotiants...
I don't know how the heck Screaming Eagle got where it did.
I tried it several times when it was 75 bucks a bottle and didn't think enough of it to keep at it.
Instead of drinking it, keeping it would be the approach, but what fun is that?
It's like being an LP collector who never plays his records.
...Groth, Chimney Rock, Hewitt, Phelps, Rafanelli and a few others I've been saving - annually, with none left before the 2005s.Not my favorites because they need heavy food.
Much rather have a good pinot noir or a zin with a little more fruit on a regular basis.
Edits: 10/28/12
Don't underestimate the value of the something you can't get. People come in here all the time talking about some unobtanium wine that they tried to get. Of course if you know where to look...
Someone once joined my wine club because he heard it was limited. I said to the guy "don't you want to try the wines first?' Nope.
Next time I start a winery, I rent a prominent spot and put a sign on the door " we have nothing available, sorry...check back next vintage" After two years, people will be waiting with cash in hand!
The people I know in the business talk about alot of those wineries having frightening amounts of stock on hand, but none want to respond to market pressures.
Especially the 'culty' cabs.
Cough....cough....Harlan....cough.
Get ready for some amazing Hong Kong based buyer to pretend to have bought it all up "at retail" and distribute in in Asia at secretly low prices.
Luckily for the owners, alot of it is vanity, anyway.
The future of Napa is William Foley.
_
So, did you find your own wine in there?
As I thought. It's always fun when your competition has no need to make a profit!
I borrowed a couple fermentors from Mr Foley yesterday, but I'm guessing that's between his winemaker and me.
I did find my score. 91 for 2008 Cab. Nothing to move sales, but it's better than a poke in the eye. More coming in the Washington issue I presume, as someone came recently to take my photo. It will be out in a few weeks.
I still manage to find some good California cabs but Napa is getting silly. Buehler is one of the few I still buy.
Sonoma has a few but I still prefer the Napa style. Paso Robles seems a bit on the ripe side for me.
I look more towards Washington St..
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