Definition: Wine prices

1979–1980 base 100

1971 - 1972 212 sharp increase, followed by a long period of decline and an increase between 1980 and 1990, but which did not reach or exceed the 1972 price until 1996–1997, when there was a new peak as the legendary year 2000 approached.

1996-1997 289

The history of wine prices is characterised by cyclical fluctuations, with downturns often followed by crises. Wine prices are highly dependent on the quality of the vintage and the influence of influential critics worldwide. 1997 was a mediocre vintage, but this did not prevent prices from soaring, because once again we were approaching the famous 2000 vintage, which was almost sold in advance and for which prices were expected to reach new heights through regular and successive increases. Other factors explain certain upward movements: the frosts of 1956 and 1977; the French paradox theory in 1996-1997; and the increase in exports across the board, helped by the beauty of the 2000 vintage. Today, global overproduction is leading us down the path of a significant decline.

In restaurants:

Anyone who enjoys eating out from time to time knows that you can afford good food, but when it comes to wine, the prices are often prohibitive. We understand that a commodity, a food that the chef will spend time and put their heart into preparing, is subject to a multiplier coefficient of 3, or even 4 or more. This is remuneration for work. But what about wine? Between a bottle bought for £27 and resold for £80 and a bottle bought for £120 and resold for £350, there has been roughly the same amount of work involved (sometimes a change of glass for the better wine). The only difference that really deserves to exist should come from the remuneration of the stock. So why not use a multiplier coefficient inversely proportional to the purchase price, with a minimum of 1.5?

We could apply, for example, a formula such as:

for a bottle purchased at £10, a coefficient of 3.5 and a selling price of £35

for a bottle purchased at £27, a coefficient of 2.7 and a selling price of £72.90

for a bottle purchased for £100, a coefficient of 1.9 and a selling price of £190

for a bottle purchased for £160 or more, a coefficient of 1.5 and a selling price of £240.

Of course, we can discuss the figures, and we can also refine the formula for remunerating the stock, but what is certain is that we would treat ourselves more often.

Another solution, implemented in some countries, is to allow guests to bring their own drinks.

This proposal is certainly very unwelcome at a time when all European countries are rightly trying by all means to limit drink-driving. On the other hand, it is rather unusual that the restaurant's profit comes mainly from the sale of wine, which requires the least labour: managing the cellar, presenting the bottle, uncorking and pouring, and sometimes collecting the dregs!

Based on the notion that these costs are the same regardless of the cost price of the bottle (including storage costs), an identical fixed margin could be added to both low-priced and high-priced bottles.