Friday, April 15, 2011

Scarcity, Fashion, and Demand

When buying a 'fine' wine, a big portion of your dollar spent goes to scarcity, fashion, and demand- not the actual quality of the wine inside the bottle!

During a recent experiment,only 50% of 570 participants could correctly distinguish expensive (around $50) from budget (around $6) wines.

Welcome to the club.

This is great news- it means we don't have to empty our wallets to buy a good quality wine!

Check the full article- I think it's so interesting!


Lisa said...

I think this article is a little bit silly... They ask non-wine drinkers to taste and evaluate a bunch of wines, then use it to prove a point? Ok... I mean, I guess if your point is, "People who know nothing about something can't distinguish between them"... But, it's a good excuse to go out and buy a bunch of cheap stuff and do some experimenting I suppose!

I aim for ~$15/btl +/- ~$3 when I buy for myself... think there's the best values in that price range, and some really remarkable stuff too. Can't wait to get done with work so I can finish my bottle of this pretty little Cotes de Provence 2010 Rose:

Stacey Szumiak said...

I agree! They should just stop doing the studies and start encouraging people to drink what they like!