What is your wine worth?

[montanaWineGuy]

I would imagine most winemakers have an inflated idea of just how good their wine is.

My wine is hit and miss. The bad stuff is still drinkable, but my best, I would say is worth maybe $10 a bottle. It is my Blueberry that is consistently good, and last years Oregon Grape was great, i.e. certainly the $10 bottles.

It is this years Elderberry, not quite ready to be bottle, that might be >$10/bottle.

 

[JohnT]

To me, My wine is beyond worth. It is the realization of the hard work of myself, my friends, and my family.\

Putting that aside, I have asked myself what my wine could be sold for (if I was legally able to do so)?

Once, we were going out to dinner (BYOB Italian) with a bunch of friends and I brought an $80 bottle of brunello di montalcino and a bottle of my sangiovese blend (one of the best I ever made). The idea was to first open the brunello and then, if need be, open my blend.

As a lark, we decided to do a blind taste test. I tipped the waiter to wrap up both bottles and pour a glass of each for everyone. Nobody, including me, knew which one was which. Long story short, My blend was preferred by all 6 of us. After seeing this, the entire wait staff begged for a taste and I was happy to oblige.

To me, it is becoming more clear that the price of wine is simply what a person is willing to pay. A lot has to do with reputation. So many times I have discovered $20 gems and so many times have I paid top dollar, only to be disappointed.

 

[balatonwine]

One simple method to determine product value is production value: Take your total production costs (yes, that includes salary or other compensation for time and any appropriate amortizations needed), divide by total production output. Then you have the value, or "worth" of a bottle of wine (or any other product).

What the market will pay is something else.

If the market is not willing to pay your products's production value, you go bankrupt.

If you "sell" your product well (marketing, promotions, energy, gimmicks, brand recognition, just dumb luck), then you can get (much) more than the product production value.

What you "think" the product is worth, really is not usually relevant. One really should do the market research to set a resale price. Business 101.

 

[montanaWineGuy]

What you "think" the product is worth, really is not usually relevant. One really should do the market research to set a resale price. Business 101.

I'm comparing my wine to what I can buy at the local grocery. Not meant to be a philosophical dissertation.

 

[montanaWineGuy]

Long story short, My blend was preferred by all 6 of us. After seeing this, the entire wait staff begged for a taste and I was happy to oblige.

Cool!!! My neighbors were going to their adult children's Christmas party, and I gave them a bottle of my Apple wine to take. They opened the wine and disclosed that it was a homebrew, and the guests seemed a little wary. It was complimented, enjoyed and gone immediately.

 

[balatonwine]

I'm comparing my wine to what I can buy at the local grocery. Not meant to be a philosophical dissertation.

Ah. Got it. Pity. I like a good philosophical economic debate.

 

[montanaWineGuy]

To me, it is becoming more clear that the price of wine is simply what a person is willing to pay. A lot has to do with reputation. So many times I have discovered $20 gems and so many times have I paid top dollar, only to be disappointed.

Agree! 2 years ago, I joined a wine club to take advantage of their teaser initial offering. Their "Best" was priced at $49, and to me it had a soapy taste to it. IMO it was a $4.99 bottle of wine (barely).

 

[JohnT]

Cool!!! My neighbors were going to their adult children's Christmas party, and I gave them a bottle of my Apple wine to take. They opened the wine and disclosed that it was a homebrew, and the guests seemed a little wary. It was complimented, enjoyed and gone immediately.

Another funny one was a "gathering group" we belonged to (through church). We would meet and have dinner at each other's house every month.

I was asked to supply wine and I brought half a case. I never label my wines, so they just put the unlabeled bottles on ice along with the beer.

In walks up this gentleman who poured a splash of wine into a glass, sipped, smiles, and poured more into his glass. He then started looking at the bottle, trying to find out the name of the wine and vintage. Of course, there was no label and he started looking puzzled.

This is when I said "Don't you just HATE when those labels fall off?"

I still laugh about that one. I figured that this guy knew a thing or two about wine. He was, after all, dressed in a three-piece suit, and would no doubt pay a handsome price for wine he liked.

 

[GreginND]

One way to know for sure is to try to sell it .

I can say that my Marquette sold out fast at $26.99. Of course, we all know that limited productions and marketing are part of that. But people keep asking for more.

 

[skyfire322]

Although my Sangio/Merlot is relatively young (four months in the bottle), most of the people at a blind tasting I did said they'd pay between $12 and $15.

 

[petey]

It’s illegal unless you license. I’ve made lots of wine, and it’s always less than $10 per bottle including: labels corks,bottles, capsules and labor

 

[mainshipfred]

I would think we as winemakers or any other craftsmen are our own worst critic. I know I am. I've only bottled 5 batches and although I'm not totally impressed others seem to really enjoy it.

 

[StBlGT]

I would think we as winemakers or any other craftsmen are our own worst critic. I know I am. I've only bottled 5 batches and although I'm not totally impressed others seem to really enjoy it.

Exactly. I seem to have this happen, too. Everyone loves my wines, but I always seem to find fault somewhere, even if there isn't any.

 

[FTC Wines]

Fred & Stbig, I totally agree with you two. We have making now for over 10 years. Have quite the "Winemakers reputation" in our family and subdivision, everyone loves it. I still have some doubts & think it could be better. BUT I think that's what makes us better winemakers. Roy

 

[joeswine]

Practice makes perfect or does it ? Just have fun creating and enjoying the art of wine making and always (think outside the box )

 

[mainshipfred]

Last night I attended a VIP gathering for a restaurant we just completed and I openning today. I brought 3 bottles of wine. All they had was champagne and samll plastic flutes. When I asked people if they wanted to try it they were skeptical and had to convince them it was just a taste they didn't have to pour a full glass. Well the rest of the evening (or untill it was gone) they were coming over refilling their glass to higher levels and some even disgarded the flutes and went to drinking out of glasses. I don't think anyone went back to the champagne. It was a pretty "Feel Good" moment. One guy tipped the 3 empties to get the last drops.

 

[sour_grapes]

Last night I attended a VIP gathering for a restaurant we just completed and I openning today. I brought 3 bottles of wine. All they had was champagne and samll plastic flutes. When I asked people if they wanted to try it they were skeptical and had to convince them it was just a taste they didn't have to pour a full glass. Well the rest of the evening (or untill it was gone) they were coming over refilling their glass to higher levels and some even disgarded the flutes and went to drinking out of glasses. I don't think anyone went back to the champagne. It was a pretty "Feel Good" moment. One guy tipped the 3 empties to get the last drops.

Awesome story, Fred!

 

[dralarms]

Got a buddy that comes down from KY, he takes my wine home and has had people offer him 20+ per bottle for some of mine. He tells them it ain't for sale.

 

[jgmann67]

Since I used to pay $15 - $30 for a bottle at the state store and now I just go to the basement and grab one of my own (that costs me between $4 -$5 to make) it's worth a really big smile on my face.

 

[DeChaunac]

Since I used to pay $15 - $30 for a bottle at the state store and now I just go to the basement and grab one of my own (that costs me between $4 -$5 to make) it's worth a really big smile on my face.

Ahhhh, state store. You must be in Pennsylvania also. I supply all of our friends parties and events and never get a complaint. Have you noticed wineries trending toward sweet? Drives me nuts, and that is a very short drive.