I recently received an email from my wine club offering me "A Rare Vertical Tasting 15 Years in the Making!". I can buy some aged
Freemark Abbey Cabernet Sauvignon Napa Valley Bosché Estate (vintages 1994, 1995, and 1996) for a total price of $281 (about $94 per bottle). This marketing pitch aims right at the notion that wine, especially cabernet, gets better with age. So much better that it should command premium prices. Not to leave this marketing pitch unexamined, I decided to do some detective work. The results are interesting.
See the following chart for the Wine Spectator scoring of each vintage (both the original and subsequent scoring), release price, inflation-adjusted price, and offered price (they didn't break it down by vintage so I just divided the total price by 3). And please assume for the moment that the scored price accurately reflects the quality of the wine.
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What this analysis shows is that 2 of the 3 wines got worst with age! Not by much though: the 1995 went from Outstanding to Very Good and the 1996 went from Very Good to Good (using the WS scales). While the 1994 went up, it stayed within the Very Good range.
So the question is: should I pay a premium price for wine that was very good 15 years ago and is still very good today? Or put another way, what premium should I pay for having the winery hold this wine for the last 15 years since the taste is about the same (meaning I'm paying for their inventory carrying costs but not for taste appreciation)?
I don't know the answer but what really has me unsettled is the deceptive way in which this wine was presented. Part of the email pitch about scoring is presented below.
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For the 1994 they use a Wine Advocate rating of 96 since it's higher than the Wine Spectator ratings. For the 1995, they use the original score of 92 instead of the most recent score of 88, again since it's higher. But for the 1996, they used an overall Napa Valley vintage rating of 96 instead of the actual rating for the actual wine, which is readily available. One could argue that each individual rating is true (which they are). However, cherry-picking the best rating and conveniently omitting the worst ones, collectively makes the pitch deceptive. This is just plain wrong. Needless to say, I'm not going to take advantage of the offer.
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