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Between March 2020 and now, the average price Aussies have paid for a good bottle of craft wine is down significantly from the same period just one year ago – probably down by more than 25%. In the past four months, we have seen (and taken advantage of) a number of sales in the 35% to 50% off range, and many of these from wineries of great stature and repute! Clearly, this has been a direct result of COVID’s brutal ravaging of the economy and tourism, which has left many businesses desperate for cash (and consequently running some very attractive sales). But no matter the reason, in technical terms, we have just witnessed a significant deflation. We here at Wine Hunters have bought hundreds of bottles in the past few months at prices not seen since at least 2014.
As far as wine goes, when we look back on 2020, there will be but one sentiment on our mind: “tremendous sadness.” First the horrible fire season which saw several wineries burnt to the ground while many others in places like Beechworth had to leave their fruit to shrivel on the vines. Can you imagine watching a year’s worth of back-breaking toil (or worse a lifetime’s) shrivel away on the vine before your eyes? Heartbreaking to even consider. And then came COVID. While the fires spared many wineries, COVID overlooked none. As lockdown was imposed and restaurants were forced shut, wineries lost 75% of their trade overnight. With international flights grounded and cellar door tourism at a standstill, there went another 15% of business. And so wineries were left to try to survive for months on the thinnest of fumes.
Tragic as it has been, what has transpired has also provided a window for reflection. The flipside of the sharp recent deflation has been the off-the-charts inflation in wine prices over the last five or six years. If you pause and look back, you can see it clearly. Five years ago, you couldn’t find a Rosé for over $18. Just a few months ago in the Yarra Valley, we saw Rosés offered at $35 and $40! Five years ago, great wines under the $20 or $22 mark abounded. Recently, $30 seems to be the new entry level price for something decent. Our former go-to Yarra Pinot was $22 in 2015. In 2019, it was offered at $33. In short, we’re talking about price increases between 40% to 100% in five years. Talk about inflation…
One of the primary drivers of this inflation has been the growing influx of international wine tourism. Foreign visitors with big wallets looking to impress have effectively “bid the market up”. And while most of this has occurred in wine regions near urban centres (which explains why the Yarra, when considered overall – price vs average quality found, is probably the most overpriced wine region in Australia at the moment), the rising tide of inflation lifts all boats eventually. We’re reaching for silver linings here, but maybe one of the upsides of the recent COVID-driven deflation has been putting decent wine back into the reach of more Australians.
To conclude this line of thought on a bright note, we wanted to highlight some wonderful wineries that have remained steadfast over many years in their commitment to crafting outstanding wines at better than fair prices. Our hats off to them for keeping the dream of “great wine within reach” alive for many.
* Blowfly make some of the most distinct Shiraz (and other notable varietals like Chambourcin) as can be found in Australia. To this day, they sell museum vintages under $25 per bottle.
* Chambers Rosewood Winery is probably Australia’s best producer of fortified wines. Their prices are so refreshingly down to earth.
* Tumblong Hills has made us true believers in the potential of the Gundagai region. They offer a wide range of delicious wines under $25.
* DiGiorgio Family Wines is one of favourite wineries in Coonawarra. To this day, most of their stunning range (one of Coonawarra’s top 5) is priced in the twenties range.
* Schild Estate is one of the best wineries in all of the legendary Barossa. Year in and year out they offer a delightful range of great wines at $25 or less.
* Historic Bleasdale Vineyards put Langhorne Creek on the map. They still offer one of Australia’s broadest range of high quality wines at only $22 each!
* She Oak Hill Vineyard produces some of Australia’s most elegant and focused Shiraz. That they currently offer several vintages thereof for $25 a bottle is almost unthinkable.
* Alex Russell Wines may be Australia’s best all-round producer of “alternative” varietals. All offered at $24 per bottle.
* De Bortoli Wines Yarra Valley (and we’re talking about their dream-worthy Yarra Valley range found at cellar door – not the entry level stuff at Dan Murphys) – fabulous wines from the low twenties!
The wineries above are what set us on our dream of wine. They are #WhyWeLoveWine To see reviews of these and many more wineries, check out winehuntersworld.com/wineries
