A recent study reveals wine is still considered to be a luxury product in many countries of the world. A new French research states that in international scale, on an average it takes about 7 hours and 15 minutes to work and earn the money required to pay for a bottle of wine. There are various types and categories of wines with a wide range of prices. In fact some wines offer better value than others. The Wine searcher database conveys price lists of 43,936 wine merchants across the world.
The price of wine fluctuates just like gold, oil, sugar and coffee. Change of wine prices also has impact on social and economic issues but it is comparatively slow, therefore predicting changes in wine value is quite more apparent than for other investment commodities. The factors which regulate wine prices are discussed below:
Wines become exclusive and expensive and vintages with favorable harvest conditions or astronomical events. Sometimes wines from a particular year increase in value if the influential wine critics declare a ‘vintage of the century. Actually, the fame and reputation of a given vintage influence the price of its wines more than the actual quality. Therefore psychosocial factors dominate the wine’s Market value a lot
Like any other commodity the overall economic conditions of a country, or the world influences the price of wine up to a considerable extent.
Age and value
It is a common idea that wine increases its value as it ages. “Old wine is expensive wine” is a most common factor making a wine to be more precious as well as valuable.
About the search results
To find out the price quotes in wine searcher database it is required to order search results in ascending order by price. As it is arranged from cheapest to most expensive, automatically this prioritizes halves before bottles, which are before cases.
The wine searcher displays prices as they receive them. Most of the prices are showcased with the taxes. But in some cases prices are listed without tax. For example, for our USA merchants, prices listed on Wine-Searcher exclude sales tax. But the tax status of each list is mentioned in the ‘description’ information. Sometimes average prices and price ranges are also displayed but they do not include the taxes.
Exchange Rates and Excise Tax
Wine-Searcher uses inter-bank rates to convert currencies and updates them on daily basis. But Wine-Searcher does not adjust for Excise taxes.