L'Italo-Americano

THURSDAY, MARCH 9, 2023 www.italoamericano.org 22 L'Italo-Americano W hat's the d i f f e r - e n c e between a b o t t l e of wine priced at $3.95 and one that sells for $39,000? The factors that determine the price of wine are varied, volatile, and vague. Here's an inside look at what you're get- ting for your money. A t a w i n e a u c t i o n i n France, a bottle of vintage Château Lafite Rothschild Burgundy is sold to the high- est bidder for $230,000. At a Trader Joe's store in Califor- nia, a bottle of Charles Shaw Chardonnay, known in local slang as "Two Buck Chuck," is priced at $1.99. At a vineyard fountain in central Italy, visi- tors can help themselves to all the Montepulciano d' Abruz- zo rosé they can drink, for free. From zero to six figures, wine prices are all over the radar. What you get for what y o u p a y i s d e t e r m i n e d b y complex influences, with a huge gap between high and low. Wine is an alcoholic drink made from fermented grape juice. With an annual world- wide production estimated at 26 billion quarts, prices are defined by such factors as vintage, age, economy, vint- n e r , v i t i c u l t u r e , h a r v e s t , reviews, supply, and demand. F o r i n s t a n c e , s o m e investors compare the élite Lafite to a Leonardo da Vinci masterpiece painting. Critics describe this wine as "dark, ruby purple with extraordi- nary notes of graphite, black currants, sweet fruit, flowers, and unsmoked cigar tobac- c o . " N o b l e a r t i c u l a t i o n indeed, but why would any- one pay such an astronomical amount for it? How many people can tell the difference between rare Lafite and bar- gain table wine? Blind tast- ings and academic studies found that neither amateur consumers nor experienced connoisseurs can consis- t e n t l y d i s t i n g u i s h f i n e from cheap wine, or identify the flavors. Wine has three essential markets: low, medium, and expensive. The majority of sales belong in the first cate- gory, with an estimated 90 percent priced less than $12. Key considerations in pricing include production and dis- tribution. Let's do the math... With a bottle of wine sell- ing for $30, distributors buy it from the producer for $15, then sell it to retail outlets for $20. Markups vary, but most r e t a i l e r s s e l l i t f o r $ 3 0 . Supermarket giant Costco, one of the largest wine retail- ers in the US, gets $22. Tar- get has been known to offer average reds and whites for as low as $5. The economics for cheap- e r w i n e s a r e g e a r e d toward volume sales. For instance, a bottle of Aus- tralian Yellow Tail Chardon- nay for $6 somehow covers the cost of production, taxes, import duties, marketing, overhead, and middleman. That's quite an accomplish- ment. P o i n t o f o r i g i n a l s o impacts prices. Wine from Napa, for example, is usually 61 percent higher than simi- lar California brands, due primarily to premium-grade soil and marketing muscle. B y c o m p a r i s o n , i c o n - class wine is another matter. Almost entirely prestige, ven- ture capitalist or symbol of wealth driven, its prices rise and fall with more regard to profit than personal satisfac- tion. As one investor puts it: "Investing in wine is risky. You buy as much as your b u d g e t a l l o w s , w a t c h t h e v a l u e i n c r e a s e o v e r t i m e , then keep half and sell the remainder to recoup your investment. With proper tim- ing, your profit comes in the form of a prestigious portfo- lio of superb wine. China's booming economy has developed a new genera- tion of local millionaires, many of whom have become formidable players in the i n t e r n a t i o n a l i n v e s t m e n t game. Chinese involvement is partially responsible for vin- tages to skyrocket in value. At a Hong Kong auction, for example, prices bid for Lafite nearly doubled those for the same wine at European and US auctions. Millionaires aside, com- mon folks can enjoy expen- sive wine that emphasizes d r i n k i n g o v e r d i v i d e n d s . Wine $10 or less produced by reputable wineries are like diamonds in the rough. Here, according to wine experts, is how to find them> Avoid high-profile loca- tions – No way you'll pay less than $10 for wine originating from the renowned vineyards of Italy, France, or Spain. Look for products from less- er-known regions like Paso Robles, Cal. White is all right – Since most white wine is rarely aged in oak and spends less time from grape to glass, you're likely to find light, bright versions cheaper than reds. Try obscure grapes – Though virtually unknown, g r a p e s l i k e A l b a r i n o a n d Nero d' Avola produce less expensive wine than those such as Pinot Noir or San- giovese. G o O l d W o r l d – O l d e r appellations generate lower p r i c e s b e c a u s e t h e y h a v e been around longer and their cost of producing wine is less than newer, state-of-the-art wineries. Forget bins – Bins and clearance sales are stocked with wine selling slowly or not all. You may find a bar- gain or two, but not neces- sarily a decent wine. Champagne isn't always Champagne – It may say Champagne on the label, but it's not always the real deal. Prosecco delivers the same sparkling fizz and bubbles, often for less than $12. B e f o r e g e t t i n g o v e r - whelmed by price points, here's what you can expect to pay for wine in these cate- gories: Extra Value - $4. Value - $4-10. Popular Premium - $10- 15. Premium - $15-20. Super Premium - $20-30. Ultra Premium - $30-50. Luxury - $50-100. Super Luxury - $100-200. Icon - $200 plus. Finally, a quiz. What is generally regarded as the world's most precious wine, hailed by specialists as "the perfect Burgundy," with the archbishop of Paris proclaim- ing it as "velvet and satin in a bottle?" The answer: Domai- n e d e L a R o m a n é e C o n t i G r a n d C r u C ô t e d e N u i t s 1987. The name is as long as the price. If you can find a bottle, be prepared to shell out $39,000. Otherwise, Two Buck Chuck is easy on both the palate and pocketbook. For aficionados of Italian wine, here are examples of per-bottle prices for stand- outs in the three basic cate- gories: Cheapest ($12) – Barone Fini Pinot Grigio Valda- dige 2016. Slightly fleshy with apple, ground ginger, clover, and honey notes. A touch of almonds and juicy acidity endow this light red with a smooth finish. M i d - P r i c e ( $ 4 8 ) – S t . M i c h a e l E p p a n S a u v i - g n o n A l t o A d i g e S a n Valentin 2016. This miner- al white has a smoky under- tone to support subtle peach, melon rind, pink grapefruit, and pastry cream flavors. It is medium-bodied with a rich, floral finish. Expensive ($250) – Falle- t o d i B r u n o G i n i c o s a Barolo – This sturdy, ele- gant red scores with a deli- cate floral, cherry, strawberry and mineral profile. Vibrant acidity and supple tannins result in an exceptional fin- ish. Wine, including Marsala, Moscato, and Barolo, is an essential element in many Italian recipes. Zabaione, which derives its name from the Sicilian word zabina, meaning "to whip," is one of them. Here's the recipe! Ingredients (serves 4) 4 egg yolks 1/4 cup sugar 1/4 cup of wine (usually Marsala, but you can also make it with Moscato!) Directions Warm eggs and sugar in a double boiler over low heat. Whisk briskly until foamy. Add wine and continue beating until soft, creamy, and holds its shape. CHUCK PECORARO Choosing a good wine isn't always simple, but you may be happy to know there are good bottles for pretty much all pockets (Photo: Auremar/Dreamstime) Wine prices: what you get for what you pay WINE NEWS TRENDS PROFILES

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