2005 Seven Stones Cabernet Sauvignon 750ml (3-packs)
Price: $525.00

 

Thoughts? Yes. That's nuckin' futs.

I've dropped every ESTABLISHED wine that crept over $130. Pay $175 for a start-up? No way. Just another example of "How will I be taken seriously if I don't charge $200 per bottle"? (which it will no doubt be next vintage.)  In this economy, that is simply silly. I'm sure it will sell out as it appears to be an "e-bob" darling and there are many, many folks over there who simple cream themselves every time a new wine comes out of the chute at $150+. I guess those are the people who don't have to worry that home heating oil is six times more expensive now than it was 4 years ago. God bless'em.

 

Edit to add:

To gauge the demand, I signed up a few minutes ago and instantly got an offer. It is first come first served. So if you want this wine, you can probably get it without too much difficulty.  If anyone wants my allocation of 2 3-packs, let me know. I promise not to think any less of you.

They sold out in under 5 hours according to Roy Piper.  I suppose if you allow everyone on your mailing list so you can sell out quicker you can add to the buzz?!  So much for a guaranteed allocation model

 

Unfortunately, this is right on the mark. Setting the price "low" allows average wine enthusiasts to buy. But the average enthusiast is the one who cries loudest when prices rise. So by setting the bar high at the outset, you eliminate the average buyer and limit yourself to the luxury good consumer who is far less likely to voice concern when the wine goes up $10 a year. If there are enough luxury consumers out there, the model works perfectly. Problem is, it is models like this (and Levy McClellan and Ovid et al.) that cause other wines (like Merus, Hourglass, Insignia, Sloan et al.) to think that they have missed the boat and under-priced their wine. They raise their prices to compete with the egocentric start-ups and before long, eveyone is charging $150+.  It is a perfect set-up for a bubble that will burst. However, unlike real estate and the stock market, fine wine is in such small supply, relatively speaking, that the bubble hasn't burst as it should have by now. Based on the posts on wine boards, L-M suffered a lot of "passes" this year. It will be interesting to see what happens to them and whether it will rub off on others. But as long as there is a Las Vegas and a Hong Kong, I don't see any hope for average wine enthusiasts.

 

Winetex: I signed up to see if there was a waiting list, figuring that this might indicate how popular this untested start-up was. Apparently, any lemming that wanted to sign up yesterday could, and got an immediate offer, resulting in a Springsteen-like sell-out within hours.  If I had signed up 6 months ago but couldn't get to my computer in the first 5 hours, I'd be really pi$$ed right now.

Personally speaking, I remain loyal to many of the producers I purchase from even when I see prices increasing on a yearly basis.  I don't fault any producer for increasing prices with the market unless, IMO opinion of course, the increase seems excessive.  And for me, it's rare that I do think a price increase is excessive.

 

Really, I think price increases and initial release pricing are not the same issue.  Related because they can influence each other but not the same for me.

 

And how many times do we all complain about price increases and yet still end up purchasing?