For any French wine drinkers out there (me included) use Pegau Chateauneuf du Pape as an example. On release the price was $39/blt 10 years ago and today $59-$69. Not withstanding the”Great Recession” pricing continued to increase 3-5% including vintage implications. During this time competitors starting expanding their line BUT within the existing vineyard! To keep up Pegau took the best located/oldest vines within their CdP vineyard and created a second wine, Cuvée da Capo (approx $300/blt) plus others! Prior to these new releases all the wine went into the Reservee, $39 10 years ago. This example translates across the entire wine industry. Oh, one more thing China has had an enormous impact on pricing through the auction market! Sent from my iPhone using Tapatalk