How much per sip?
April 19, 2008
Reuters reports that an anonymous Chinese billionare just paid a half a million bucks for 27 bottles of “Romanee Conti, a Burgundy wine and considered to be among the world’s most exclusive with only 450 cases produced each year.”
If you figure 5 glasses per bottle, this guy just paid more than $3,700 per glass of wine. Those had better be damn good wines.
I wonder if he’s aware of Decanter magazine’s report on studies – by the American Association of Wine Economists study and Caltech study – which found that when people don’t know the price of a wine, they tend to prefer inexpensive wines, but when they do know the price (or think they do; this phenomenon holds when they’re given inaccurate prices), they prefer the expensive wines.
And does that study make this a better investment or a worse one?
