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In modern times a new dynamic is speeding up the rarity as well as increasing the prices, wine critics. The most notable being Robert Parker Jr.
He is acknowledged to be the most influential wine critic in the world. He publishes his reviews in his magazine, The Wine Advocate which has been published since 1978. There are 40,000 subscribers in each American state ad well as being published across 38 Countries. This publication is referred to as the "Wine Bible" due to it's religious following.
His simple scoring system is easy to follow. He scores wines between 50 - 100 points. This score represents the quality of a wine which then directly influences demand as fine wine consumers and investors compete to own the very best wines.
In modern times a new dynamic is speeding up the rarity as well as increasing the prices, wine critics. The most notable being Robert Parker Jr.
He is acknowledged to be the most influential wine critic in the world. He publishes his reviews in his magazine, The Wine Advocate which has been published since 1978. There are 40,000 subscribers in each American state ad well as being published across 38 Countries. This publication is referred to as the "Wine Bible" due to it's religious following.
His simple scoring system is easy to follow. He scores wines between 50 - 100 points. This score represents the quality of a wine which then directly influences demand as fine wine consumers and investors compete to own the very best wines.
FINE WINE CRITICS
Fine wines rises in value due to two factors, restricted supply and ever growing demand. The best wines are produced in limited quantities which puts an immediate strain on their already finite supply. As the wines are consumed they quickly become rarer. Over time as the supply depletes, the demand overtakes whats available on the market and the prices naturally rise.
Bordeaux wines are the most famous and sought after. The French government restricts the amount of wine each each producer is allowed to yield which immediately creates a supply and demand dynamic. The government restrictions on wine production were introduced by Napoleon III which remains virtually unchanged.
In 1855 Napoleon III requested France's wine brokers to come up with a system that would allow foreign visitors to be able to easily identify the Country's best wines. This is when the Official Bordeaux classification was born. Wines were ranked based on their importance, from First Growth to Fifth Growth. Wines that are First Growth are naturally more in demand as they are viewed as the best .
In modern times a new dynamic is speeding up the rarity as well as increasing the prices, wine critics. The most notable critic of them all being Robert Parker Jr.
Robert Parker Jr is acknowledged to be the most influential wine critic in the world. He publishes his reviews in his magazine, The Wine Advocate which has been in production 1978. There are over 40,000 subscribers for The Wine Advocate in each American state as well as being published in 38 Countries. This publication is referred to as the "Wine Bible" because Robert Parker Jr's reviews are followed religiously by the wine community.
His simple wine scoring system is easy to follow. Wines are given a score between 50 - 100 points. Although his score directly reflects a wine's quality, it indirectly influences the demand as fine wine investors and consumers will compete to own/drink the the very best wines. Robert Parker Jr has issued less that 20 perfect 100 scores to Bordeaux producers over the last 40 years.
THE FINE WINE MARKET EXPLAINED
Fine wines rises in value due to two factors, restricted supply and ever growing demand. The best wines are produced in limited quantities which puts an immediate strain on their already finite supply. As the wines are consumed they quickly become rarer. Over time as the supply depletes, the demand overtakes whats available on the market and the prices naturally rise.
Bordeaux wines are the most famous and sought after. The French government restricts the amount of wine each each producer is allowed to yield which immediately creates a supply and demand dynamic. The government restrictions on wine production were introduced by Napoleon III which remains virtually unchanged.
In 1855 Napoleon III requested France's wine brokers to come up with a system that would allow foreign visitors to be able to easily identify the Country's best wines. This is when the Official Bordeaux classification was born. Wines were ranked based on their importance, from First Growth to Fifth Growth. Wines that are First Growth are naturally more in demand as they are viewed as the best .
Fine wines rises in value due to two factors, restricted supply and ever growing demand. The best wines are produced in limited quantities which puts an immediate strain on their already finite supply. As the wines are consumed they quickly become rarer. Over time as the supply depletes, the demand overtakes whats available on the market and the prices naturally rise.
Bordeaux wines are the most famous and sought after. The French government restricts the amount of wine each each producer is allowed to yield which immediately creates a supply and demand dynamic. The government restrictions on wine production were introduced by Napoleon III which remains virtually unchanged.
In 1855 Napoleon III requested France's wine brokers to come up with a system that would allow foreign visitors to be able to easily identify the Country's best wines. This is when the Official Bordeaux classification was born. Wines were ranked based on their importance, from First Growth to Fifth Growth. Wines that are First Growth are naturally more in demand as they are viewed as the best .
FINE WINE CRITICS
FINE WINE CRITICS
