The most expensive bottle of wine ever sold was a 1945 Romanée-Conti, which fetched $558,000 at an auction in Geneva.
The quality of the wine itself was a factor in the price as it was produced at Domaine de la Romanée-Conti, a legendary vineyard with an excellent reputation.
However, this particular bottle was particularly expensive because it was produced in the final year of the second world war. As a result of the conflict, the vineyard only produced a limited number of bottles that year. This makes it especially scarce and also creates an interesting narrative of a rare wine, bottled during a crucial moment in history.
So, although the wine likely tastes brilliant, it is the rarity and the story that makes it so expensive.
Yet, the bottles you buy in the supermarket do not have the same history, so why are some more expensive? More importantly, does the increased price tag mean you are getting a better quality of product?
Read on to learn whether paying more for wine gives you a better drinking experience.
The average person has a 50/50 chance of identifying an expensive wine by taste alone
Logic would suggest that more expensive wines are made using better quality ingredients or improved methods and are likely to taste nicer as a result.
However, certain studies show that many people struggle to tell the difference between an expensive bottle and a more affordable wine. For example, the Guardian reported that in a taste test, participants correctly identified an expensive bottle, costing more than £10, just 53% of the time for white and 47% for red wines.
This suggests that the relationship between the price of wine and the drinking experience may not be as clear as you might believe.
“Residual sugars” could make less expensive wines taste better
The results of taste tests suggest that cheaper wines sometimes match the flavour of more expensive bottles, which is why people could struggle to differentiate between them. This could be because of “residual sugars” in the wine.
The grape juice used to make wine has natural sugars in it. During fermentation, the yeast processes the sugar and turns it into alcohol. In some cases, all the sugar is processed, creating a “dry” wine without much sweetness.
Conversely, some of the sugar is left over in certain wines. This residual sugar gives the wine more sweetness, which we often experience as “body” or richness.
Winemakers producing more affordable wine made from cheaper grapes may use fermentation techniques that leave more residual sugars. This can add more flavour, meaning that the cheaper wines perform well in taste tests and have a similar depth of flavour to more expensive bottles.
Experienced wine tasters may be able to identify the residual sugars and differentiate this flavour from the body or richness that comes with higher-quality grapes. However, the average person may not be able to make this distinction.
In other words, for many people, an expensive wine might not taste noticeably different from a more affordable bottle. Yet, an expert may be able to tell the difference between the sheer sweetness of residual sugars and the more complex body that you might expect to find in expensive wines.
As a result, they might have a better drinking experience because they know they are sampling a premium product with a greater depth of flavour.
That is why Wine Folly reports that enthusiasts tend to rate expensive wines more highly. In comparison, non-enthusiasts often prefer the affordable options with more residual sugars.
The wider circumstances have a significant role to play in the drinking experience
The quality of the grapes and the residual sugars can influence the taste, but the way that we interpret the flavour may depend on our knowledge of wine.
As described by Wine Folly, enthusiasts might have a better drinking experience when they pay more for wine because they can appreciate the complexity of the flavours.
However, the flavour of the wine itself is only one factor. Circumstances and your preconceptions might influence the drinking experience too. A famous study of wine tasting demonstrated this perfectly.
According to Real Clear Science, a researcher dyed white wine red and gave it to 54 wine experts. Many of them tasted and described it as they would a red wine. This suggests that the way they experienced the wine was influenced by their preconceptions more than it was the actual flavour.
The case of Rudy Kurniawan also shows how the power of circumstance can influence the way we taste wine. As the New York Post reports, he sold upwards of $30 million of fake wine in very convincingly forged bottles.
Upon opening and drinking some of these wines, the buyers could not tell that they were fake, despite the fact they were wine experts and many had tasted the specific wines in question before.
As such, you could potentially have a brilliant tasting experience because of the situation and your perception of the wine, rather than the ingredients or the production process.
The wine-drinking experience is unique to all of us
The results of wine-tasting studies are not usually definitive. As discussed earlier, people can only identify more expensive wines about half the time, though wine enthusiasts tend to prefer a pricier bottle. Conversely, people who do not know as much about wine may prefer more affordable bottles.
Additionally, the wider circumstances might have a significant effect on how we taste the wine.
This means that the wine-drinking experience is different for everybody and could vary depending on your surroundings and personal preference.
We find the same is true of financial planning as everybody has their own unique goals and circumstances.
So, just as you consider your own wants and needs when managing your finances, you might want to focus on your personal preferences, rather than the price tag, when choosing wine.
Get in touch
We may not be able to help you choose the perfect wine, but we can support you in managing your finances. If you need guidance, then please do get in touch with us at DBL Asset Management.
Email enquiries@dbl-am.com or call 01625 529 499 to speak to us today.
Please note
This blog is for general information only and does not constitute advice. The information is aimed at retail clients only.
