I was
in St Helena this last weekend where it happened to be the Premiere Napa Valley
barrel tasting. Over the weekend 70
bidders (all wine distributors, importers, retailers, or restaurants) paid a
collective $6M for 225 lots of wine ranging from 5-20 cases of wine each.
Being
in town during this event was a super-interesting perspective into the world of
Napa wine auctions, and I learned about wineries and styles of wine that weren’t
on my radar before. A notable example
was ZD Wines, which sells a three-bottle pack of its flagship Abacus wine for a
cool $2,100. Abacus is a single varietal
wine (cabernet sauvignon) but is a multi-vintage blend (a new concept to me in
red wine) that blends 27 vintages (1992-2018) into a single bottle. The wine is made from ZD’s Reserve Cabernet
Sauvignon which sells on their website for $230 a bottle for the 2016
vintage.
Although
the Abacus at $700 a bottle is clearly a markup from a recent 2016 vintage Reserve
cab at $230, the fact that the winery needs to blend 27 vintages means there is
a significant inherent time-value cost to selling the Abacus vs individual vintages
as they are ready. This begs the question
whether Abacus makes sense as an economic business decision stand-alone or
whether it is more a marketing and brand play for an association with a deep library
and premium wine-making heritage. Without
knowing the proportions of vintages in the Abacus, hard to say. But would love to hear from anyone who has
ever tried it what they thought (was a little too rich for my taste this
weekend…)!
Very interesting concept, which I've never heard of either.
ReplyDeleteI wonder if each year it is a rolling set of 27 vintages (e.g., 1991-2017, 1992-2018). Selfishly, as a recently turned 27-year-old, it sounds like a great birthday gift (very specifically for 27 year olds), to have a bottle of wine that is inclusive of grapes from each year a person has been alive. It does, however, sound inordinately complex - and even at that nosebleed price-point, struggle to imagine how much they could be making in total.
Now that I've started my 28th year, it seems like I've missed my chance to purchase a 27-year-vintage wine - too bad, but at least I saved some money!