Last week I asked a couple questions:
How much are you willing to spend on a bottle of wine?
Is a $150 bottle of wine three times better than a $50 bottle?
I thought there was a lively discussion that ensued with some really great comments and points of view expressed. In that spirit, I am back with another question this week, in a similar vein.
Many people who are into wine at some point start buying wine to store for future consumption. Even though the average amount of time that a bottle is “aged” in this country is about three hours (in other words, the vast majority of wine is purchased for immediate drinking), there are a few of us knuckleheads out there that buy wine to hold onto for a while.
Not all wine improves with age, though. In fact, most wine probably does not improve with any additional cellar time. The problem? There is plenty of wine out there that does improve with age. The bigger problem? I really prefer wine with some age on it.
For example, this past Monday I had a bottle of 1991 Elyse Morisoli Vineyard Zinfandel.
And it was incredible.
I did a quick search of my Cellar Tracker and I discovered that I have a bunch of wine in the cellar that I purchased back in 2001 (it may have even been earlier than that, but that was my best guess). I am sure there are others out there that can beat that easily, but that is not the point. The point is: those of us that have been bitten by the wine bug tend to collect a few special bottles. Perhaps they’re special because they evoke a particular memory, occasion, or anniversary. The might be special since they were purchased for an incredibly low price. They might even be special for a more basic reason: they are worth a bit of money.
That leads me to the question:
What would it take to sell a bottle (“special” or not) that you had bought intended for your own consumption?
One of these days I will tell the story of the bottle of 1961 Chateau Margaux that I got for $50. I could have turned around and sold it for many more times that, but I figured I would never get a chance to taste a ’61 Margaux (let alone drink a whole glass or two) so I kept it (and drank it). It turned out being on of the more memorable dinners we have had in our house–a great friend’s 50th birthday party. I consider that “worth” far more than the extra $$$ I could have pocketed.
Last week I said that a $150 bottle was not three times better than a $50 bottle, but I likely could have sold that ’61 Margaux for $500 (or more). Was it ten times better than a bottle of $50 wine?
No.
So why didn’t I sell it and buy a case of really good wine?
That’s the ’61 Margaux on the right….
Am I silly? Stupid? If you could sell any “special” bottle in your collection right now for $500 would you do it? For $1000? $5000?
What is the price at which you “pull the trigger”?
What is your price?
the drunken cyclist 
Jeff, this is yet again an interesting question. As we know (from the movies?) there is a price for everything. But – outside of any desperate situations, which can always happen in life (I recently read through a thread where someone had to sell their allocated and pre-arrived Sine Qua Non because they needed money for the surgery) – so outside of any desperate situations, I’m not selling. That $50 Margaux gave you a priceless experience – yes, you could see it and get a case of Clos Pepe or Siduri – but it wouldn’t be a the same as experiencing 1961 Margaux…
I think the important point here was the fact that you only had a bottle ( or a few) of that wine. When it comes to the people who actually have cellars full of whatever gems they are, those people run out of space from time time and get tired of drinking the same stuff over and over again, then they sell – and this is where you can look to the Benchmark Wine Company to find some of those gems… But this is whole other story.
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I agree, it would take a rather desperate situation to have me sell off some of my modest “treasures”. And you are correct, the memories of the Margaux far supplant the treasures that might have come from its sale. I did not really think of the single bottle angle–but once again you are spot on….
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I don’t have anything old enough to worry about the fantastic price question. That’s not why I buy, so I’m with Talkavino on the “no sale” point of view. Now if I had a bunch of ’61 Margaux, maybe I’d sell 1 or 2, but definitely not my only bottle!
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Thanks so much for the comment! You are right, Talkavino is usually the one with the “right” answer!
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blushing…
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It is true though that everyone has a price… If I could have put down a deposit on a house then i suspect it might have been winging it’s way to an auction house near you…!
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A deposit on a house is a good benchmark!
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Great topic!
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Thanks RWL!
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Declaring up front that my ‘cellar’ is not one of those legitimate ones. I am pretty judicious in what I cellar for any time. So, what I have, I love or anticipate loving. Actually love my guys downstairs. Would take a lot to pry them loose. Weird though that we probably all keep stuff that’s plain and simple due or overdue for consumption. I keep thinking that some of my Bordeaux, Brunello, or CdP ‘needs more time’. I think that for me it’s comforting to have these old friends downstairs with some of my new best friends. Bad karma to open.
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I agree wholeheartedly. In fact, I see my bottles as my children at times, never wanting to let them go! Yes. I am a lunatic.
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Jeff,
A great poser. I would have to say, that I would not sell any of my wines, as I am looking forward to trying each and everyone that I have purchased. Some require the proper dinner, setting and the right friends. There are some wines that I own, without being mean, that would not be properly appreciated by just anyone. Lafitte, Margaux, Cheval Blanc, some Gajas, etc. would be drank and enjoyed by anyone, but most would be just as happy with a Medoc. There is a smaller circle that would appreciate some of the wines, and when I open these bottles, I am hoping for some fine conversations and that would be better than a few pieces of silver.
– John
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Yes, sharing with friends is far beyond most (any?) cash reward. And I am completely with you–there are friends that are “bottle worthy” (an allusion to a Seinfeld episode). I stop (just) short of quizzing a guest to “gauge” their wine knowledge before pulling the cork….
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Thought provoking. I don’t think I have anything in my cellar to brag about unfortunately. I do have some wines that I am aging/saving until….. I started a few years back going by the winemakers recommendations on how long a wine could be kept. Not really having a “wine cellar”, I simply use a silver sharpie and write the intended drinking year on the side of the bottle. I have some that are labeled as far out as 2020. Now the question is, “Can I wait that long?”
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I use the silver sharpie as well! And my wife is the impatient one!
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This is such a great discussion topic. There is certainly a point of diminishing returns for price and quality. And emotional connection dramatically affects that. Moreover, emotional collection may actually improve the perceived quality of the drink.
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Spot on! I am sure that many of the wines/wineries that I like are due to the interactions I have had with people associated with them…
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It’s hwy I could never ever run a wine store. I wouldn’t want to part with the wines I could make the most money with. I am not really interested in money. If a wine is very dear to me, I don’t think I could be bought off. Especially if it is just one bottle that is irreplacable.
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This is a great perspective! Running a wine store is a great example–I agree it would be particularly difficult!
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I used to be obsessed with books, and everyone said I should run an antique book shop…same problem there.
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You’re kidding! I am exactly the same!
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Oh-My-God (a la Janice in Friends): you got a ’61 Chateau Margaux for fifty bucks?!? That’s insane, Jeff! I don’t know what you had to do to secure such a deal, but I suspect it was totally worthwhile!!! 😉
Having said that, if it had been me, I would never have sold it, just like you did. I would have drunk it and immensely enjoyed it, just like you did. Well, maybe I *could* have bartered it for two bottles of younger vintages of Petrus AND Chateau Latour! 😉
Also, with regard to your question, no, I would not sell the wine that I store for aging in my cellar: I am not a collector, it is definitely not an investment for me and I just want to drink it when the time is right.
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Yeah, pretty crazy. One of these days I will post about it. I also got a ’52 Rothschild and a ’64 and ’66 Haut Brion for the same price….
And spot on–I am not a collector looking to resell–I am looking to drink!
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No way!!! Please, whenever you have an opportunity to, do tell the story because I am even more curious than what’s going to happen in the next installment of the OMG saga! 🙂
Way to go, Jeff!
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I’ll get to work on it since it really is a crazy story….
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