Tuesday, 20 June 2023 15:25

Bob's Blog: Don't do as I do

Written by Bob Campbell MW

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Chateau Petrus 1982. This bottle, auctioned by Webb’s Auction House, achieved $5,405.62 in April 2020. They currently have another bottle in house, with a value estimate of $7,000 to $9,000.

OPINION: "Do you remember that bottle of 1982 Chateau Petrus you said I should buy?" asked Patrick, a friend from way back.

"Vaguely," I replied. "I think I paid NZD$400 or NZD$600 for it, quite a lot of mjoney at the time. I'm thinking of selling it - an auction house reckons it is worth between NZD$6,000 and NZD$8,000," he revealed.

Why don't I ever follow my own advice? I frequently give advice about wine investment but have never had the good sense to buy wine with the intention of re-selling it at a profit. There are two reasons why I am a reluctant wine investor. Well, three if you count a lack of play-money. Wine is something I like to share, to enjoy with good friends and decent food. It doesn't seem right to stash it away for years and then to sell it. I am a hedonist. I gain pleasure from drinking wine, not from selling it for a profit.

I recall buying two bottles of 1967 Chateau d'Yquem for NZD$23 a bottle in or around 1975. I'm not sure how much a bottle would cost today but I would guess that you could buy a decent Japanese import for the equivalent. 1967 was a great vintage and Chateau d'Yquem is one of the world's most desirable sweet wines. I opened and enjoyed one bottle on the day I bought it. It was so good I drank the other bottle on the following day. I don't have the cash but I do have the memory.

Published in Opinion

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