Here it is: The Most Expensive Wine in the World
What is it that makes a wine desirable? Is it its underlying ethereal essence that sets it apart from others? Is it the prestige of its provenance? The exorbitant price that makes it unattainable to all but a wealthy few? Or is it simply its scarcity?
Certainly, there are multiple examples of coveted goods in our society. Italian race cars have a measurable value. The finest components, superior design and engineering require significant investment. These costs contribute to the lofty $277,000 price tag of a Ferrari 458 Spider.
The finest materials, top architectural design houses and ocean vistas contribute to the stratospheric prices for luxury homes in the Hamptons. For each of these examples, mystique and scarcity are a major component of their steep price tags.
However, for the world’s coveted wines, the components of price are more subjective than the aforementioned luxury items. The singular expression of a bottle of wine strikes an inner chord of mystery; its scarcity sets in motion a buying frenzy for the bragging rights of tasting a wine that very few people in the world will ever enjoy; or adding such a wine to one’s trophy room; or both.
One such wine is La Romanée-Conti Grand Cru produced by the Domaine de la Romanée-Conti, most commonly known by its acronym, DRC, and perennially the most expensive wine sold.
What are the elements of this wine that contribute to its worldwide prestige and command such exorbitant prices?
First and foremost, DRC’s reputation and price are attributable to its prestigious location, both the region and the specific locale; second, the winemaker’s production philosophy; and third, its scarcity. As with many coveted goods, the end result is greater than the sum of its parts.
Located in the Côte de Nuits region of Burgundy, DRC is a relatively small plot of land that has been highly coveted since the Benedictine monks toiled in the vineyards and winery eight centuries ago. Even then, it was recognized as a near perfect section in the premier sub region in Burgundy, which itself was highly regarded throughout France.
Three unique soil components – limestone, red clay and gravel – contribute to the richness and velvety texture of DRC. Following in the footsteps of the ancient monks, successive owners further enhanced the DRC reputation.
The forbearers of the present owners purchased the land in 1869. Jacques-Marie Duvault-Blochet and his family assiduously expanded their envied holdings to 62 acres, which now encircle the present four acres of La Romanée-Conti. So land cost is not a major component of the price of DRC, since the vineyards have been owned by the same family for nearly 150 years.
The second component of DRC’s reputation is the owners’ commitment to sustainability. The vineyards and winery are managed biodynamically. No chemical fertilizers or pesticides are used, only organic products. No mechanical equipment is employed, only the power of horses. These and other practices produce silky, natural wines that are well-balanced, complex and have long-term aging potential (which, in turn, affect prices). In years of below standard crops, much of the fruit may be discarded, rather than produce a lesser wine.
The third component is a matter of economics. With only 450 cases – 5,400 bottles – produced annually, demand can never be fully met. While this is an envious position for any winery, the DRC reputation has created an auction frenzy that pushes prices higher and higher each year.
Whether the current vintage (2017) at $15,000 per bottle ($3,000 per glass), or the most highly regarded bottle (of any wine) ever sold at auction (1945 vintage) at $558,000 (An astounding $111,600 per glass, which may never be consumed!), DRC has stood at the pinnacle of the luxury goods market for generations, highly desirable and fanatically coveted – and deservedly so.
Nick Antonaccio is a 45-year Pleasantville resident. For over 25 years, he has conducted wine tastings and lectures. Nick is a member and program director of the Wine Media Guild of wine journalists. He also offers personalized wine tastings and wine travel services. Nick’s credo: continuous experimenting results in instinctive behavior. You can reach him at nantonaccio@theexaminernews.com or on Twitter @sharingwine.
