1000 Euros for a bottle of wine! You must be mad. I could get 50 bottle of really posh plonk for that kind of money or 100 bottles of something half decent or, if I weren’t too fussed about the quality, I could drive home from the supermarket with 250 bottles of table wine. 1000 Euros or a bottle of wine – well you certainly aren’t going to drink it – this is an investment – this is going to sit in your cellar slowly gathering dust until you can sell it on for at least double the price.
The bottle in question – a 2010 Chambertin-clos-de-bèze, fetched the astronomical price at last year’s wine sale at the Hospices de Beaune. Today marks the 2016 wine sale at Beaune and investors will be there to spend silly money on the best that Burgundy has to offer.
The Hospices de Beaune are (as the name suggests) is the town of Beaune in the Burgundy region. The Hospices are (or were) a medieval hospital offering care and alms for the poor, the sick and the needy. Beaune is in the heart of wine country – : Mersault, Pommard, Nuits St Georges, Chatteau Latour, Chablis – legendary wines that fetch astronomical prices at the yearly Beaune wine auction, where all proceeds go to funding the charitable works of the hospice.
In 2015, the wine sale in Beaune netted a record 11.3 million Euros, this year’s sale has only raised 8.4 million, roughly a quarter less.
The reasons are simple, it is not lack of buyers, there are more buyers than ever, it is a shortage of wine and the shirtagr of wine is all down to the effects of climate change. Thanks to weather change, there hasn’t been a decent harvest in the Burgundy vineyrads since 2010. Local wine producers reckon that over the past four to five years they’ve had in total the equivalent of just under two decent harvests. As the wines beome scarcer, intesrest from investors willing to pay serious wine money grows, leaving little place for those «amateurs» who buy the stuff to drink it, rather than keep it in a vault.
Prces of Pommard, Chablis and such have been rising steadily since 2010. In 2012 there was an incredible 50% price hike. 2014 saw a 26% rise and in 2015 prices rocketed by a further 37% rise – all good news for the Hospices (and also the auction house Christies who organise the annual sale). Bad news though for serious wine lovers. This begs he qustion, just how much would anyone be willing to pay for a bottle of wine. Prices are certainly on the rise.
We’ve just «celebrated» the Beaujolais nouveau in France – the «Bojo Noovo» is always released on the third Thrusday of November. Last year it was easy to pick up a bottle of this young wine for around 4 Euros at the local supermarket. This year the average bottle is retailing around 5 or 6 Euros – add on more of you fall the for the supposedly «organic» Beaujolais.
Reasons why people move to France are manifold – the weather, the beautiful countryside, the quality of life, the education system, the excellent health care – however (jokingly or not) most expats will cite the «cheap wine» as one of the reasons. is wine really that cheap?
When I see the silly prices that are paid in the UK, well wine out here in France doesn’t exactly seem cheap, just more reasonably priced in rapport with what you are drinking. My local wine is Sancerre off the shelf or from a local grower, prices are around 10 Euros a bottle – that’s roughly £8 sterling, in the UK though, I’ve seen bottles of my local tipple going for up to £20 UK (that is silly money for a bottle wine though it is certainly less than 1000€.
So, in my what you pay is what you get price guide, I am not sure of the current US$ vs € exchange rate, however for a half decent bottle of Côtes du Rhone – a Beaumesde Venise, a Rasteau, a St Joseph or a Gigondas, you can pay between 7€ and 10€, roughly between £5 and £7 UK pounds. £5 for a bottle of wine in the UK is peanuts, though you are probably buying a French table wine or an Esatern European plonk under the guise of «Bulgarian Country Wine» or «Romanian Bulls Blood» (Yep the marketing guys are scratching their heads to think up quality names for what are ostensibly amalgams of various table wines from different producers all served up in the same bottle with a sprinkling of chemicals.)
For a decent a drinkable «off the shelf» Bordeaux an uninformed drinker will lay out anything from 10€ to 15€ – for sure at this price you are getting something vaguley drinkable to share with guests over Sunday lunch (You may have understood that I am not a great fan of Bordeaux wines – Much ado about nothing)
And now, my quest
A few years back, when all the British press were waxing lyrical about «Hoooooow Loooooovely it is to live in France,» one Sunday Times journalist said that she found lovely local table wine for just 2€ a bottle – so, with some ex-pat friends, 2 Euros in pocket and no more, we hit the local supermarkets and wine stores to see what we could bring back for 2 Euros – you had to find a proper botte of wine (ie a glass bottle with a cork, no plastic bottles and no screw tops) red white or rosé for 2 Euros or less – the result was «La Cuvée du Patron» retailing at 1.69 Euros – and you know, well as a summer BBQ wine, a sangria wine or a cooking wine, it wasn’t half bad. We later found the same wine on the wine menu of a local restaurant at 10 Euros a bottle – pretty cheap for a restaurant wine, though you might just be better buying a half liter jug of wine for 6 Euros – poured directly out the wine box.
Finally, over the past couple of years in France there has been an explosion of independent wine shops, all dealing with small vineyards and selling proper organic wines for as little as 6 Euros a bottle – little gems and all the better for your guests (and you) because they are kind of exclusive.
In this house tonight, beef stew and to wash it down, a Beaujolais Nouveau retailing at 6 Euros a bottle.
In conclusion, how much wine can you get for 1000 Euros? One bottle of «Chambertin-clos-de-bèze» or about 600 bottles of «Cuvée du Patron;» Not sure what you are drinking tonight, but CHEERS.