Can you picture the first people to ferment grapes? I imagine it was at least 100% accidental and felt like more of a problem than progress.
It would make sense, too – you just let something go ‘bad’ in a way that made it smell and taste strange. Eventually, experimenting led humans to create a wine-like drink intentionally.
Still, red wine is just sour grapes to some people. It isn’t an improvement or even a cross-grade. Despite this, a bottle of 1947 French Cheval-Blanc sold in 2010 for $304,375 – that is some pricey rotten grapes.
Value is in the eye of the beholder.
One person can’t stand fermented grapes, and yet someone else is willing to pay the price for a house for a bottle of it.
Value is a spectrum too. You can get a great deal on a fantastic bottle of wine for around $15 (I just had a 2018 Cab from Perrin Dobbs that I thought was excellent for this price). And yet, there is that $300,000+ purchase out there.
Is the 1947 bottle worth 2,029,066% more than the 2018 cab from Perrin? It is to the buyer, and that is all that matters. That is the market price.
Factors to Consider in Value
Value is never just about quality vs. cost – even when it feels like it is. Always remember to take into account these factors:
- Rarity/scarcity
- Audience/Personal Taste
- Origin Story
- Timing
- Sentimental value
Remember, your product/service’s value cannot be graphed linearly. One person’s sour grape juice is another person’s favorite drink – and it may be worth $300,000 a bottle.
