For my final broadcast journalism degree project I investigated the current wine pricing.
In London, the European hub for international wine trade, I interviewed:
- the editor of The Decanter magazine Guy Woodward (now former)
- international wine buyer at Christie’s David Elsewood
- the CEO at WSET (Wine & Spirit Education Trust) Ian Harris
- Francis Huicq from Berry Bros & Rudd, the oldest wine shop in London and the royal supplier to the Queen
- Bordeaux Château owner Ronan Laborde, now the president of the Union des Grands Crus de Bordeaux
All these men are highly credible sources and broadly representative of the powerful wine business in Europe.
So why a bottle of Lafitte or DRC cost so much? What the big brands such as LVMH and the insurance companies in France do to keep the prices rising? What is the role of wine critics and why we value their opinions? And most importantly, how the new wine drinking markets affect the global wine pricing?
For more tips on how to find a good value and buy wine well, you can read my feature supported by a blind experiment I conducted with a group of wine loving friends in London. My video project opened my eyes and confirmed what my gut was whispering ever since I fell in love with that cheap bottle of whatever fermented vinous joy, perfectly balanced, and served at that tiny wine bar in France, a trattoria in Italy or seaside restaurant in Greece.
If your mind remains impartial and guided by what you really like regardless of its fixed price, you will be more content and can avoid being manipulated by your own ego and marketing.