How to get what you pay for at local wine stores

Local wine shops sell wines ranging from $4 to $400. The big question is what level of value (wine quality) do you get for your money? And what do we mean by QPR (Quality to Price Ratio)?

As with most retail products, wine is divided into a number of price categories. Generally, we get what we pay for. So if you choose a BMW over a Chevy, the price difference of more than $50,000 is worth it. Or is it? Both cars have four wheels, seats, safety features, etc., but  the BMW is several steps up in class, a luxury ride.

Now what about wine prices? Is the $50 bottle of wine fives times as good and one costing $10?

The rub here is QPR. The issue of wine prices is a tough one to explain to folks who are conditioned to believe somehow the higher the price the better the wine. This is true to a point and that point is known as the “law of diminishing returns.” A the price goes up and up, at some point you, the consumer, start getting less value for your money.

Retail wine prices can vary by more than a thousand fold. The important question is how close does price come to determining quality, and the quick answer is not very.

Let me explain. The price of a wine is a function of the price of the grapes, the cost of labor, debt service, taxation, transport, bottling and overhead so as to maximize return on capital. Elementary, is it not?

Let’s look for a moment at the various price categories and see what we get for our hard earned money.

1. Three liter and 1.5 liter. Jug wines are mostly decent-tasting but not lush with quality.

2. The so-called “fighting varietals,” from about $8 to $12 are better with marked flavors, but usually short on the finish.

3. Handcrafted wines, about $12 to $20 from individual producers, are not uniform year after year because they vary from one vintage to another and begin to demonstrate individual vineyard styles.

The $20 to $30 grouping at last begins to showcase the best grapes from premium vineyards. The soils pass on bright elements of flavor to the grapes and then to the wine. Microclimates, the right amounts of sun and moisture and cooling breezes lead to grapes of unusual quality translating into great wines. Yields are small, allowing individual vines to reach a new potential.

We are not talking about the big trophy wines of the world, most of which are beyond the reach of everyday consumers, buoyed up by scarcity and demand among the well-to-do.

Many years ago, a friend and I invested our cash supply in a $30 bottle (20 times that of current value) of French Bordeaux from the sub-district of Margaux, called Chateau Palmer, vintage 1947. The flavors of this wine are etched in my memory, a sweeping elegance and refinement, rushes of aromas, and for two college sophomores on Christmas break, a lasting impression of hedonistic pleasure.

Years later with many bottles of good wine behind me, I still recall the pleasure of that lovely Palmer wine.

Today the prices in the global wine world have gone completely off the charts. Billionaires worldwide are bidding up French estate wines into the stratosphere. This frenzy aside, the issue for gentle readers is how to get maximum value for a fair price.

Here are a few hints to achieving this goal: Think about a small band, a violin, cello, brass, reeds and percussion. Now expand these instruments to a full orchestra, yielding a much fuller, more grandiose sound. This is why big orchestras exist, to create a multi-dimension of sound. 

To uncover a complex medley of wine, decide on your favorite style, be it white or red and be prepared to pay a tad more than normal.

Consult with an advisor, explaining in your own words what you are seeking. Don’t tell him or her, “I just want it to taste good.” Instead say, “find me a full orchestra, not just a four-piece garage band; I’m looking for a composite medley of my favorite grapes. What can you suggest?”

Any consultant worth his or her salt will look at you with new eyes. Maybe they will even turn you on to a Chateau Palmer look-alike if you are lucky.

Oak Ridge resident Ron Drinkhouse was a buyer and seller of wines in Connecticut. He welcomes inquiries, and can be reached via email at ronoct9@aol.com or via telephone at 352-445-0328.