This site is now closed
and has been left here
for historical reference
Copyright © Ric Einstein 2009
From “Greed and Ignorance” to
“Avarice and Stupidity”
Feel free to submit your comments!
From: Rodney B06/12/2007 03:24:48 I agree with your comments about the wine they purchased. Absolute madness. Even if you think that wine investing is a good idea surely you would restrict yourself to 12, maybe 15 or 20 cellarable, high profile wines. Heck, they could have cornered the market on a few prestigious wines given the money they obviously had to spend making them very rare and difficult to acquire thereby pushing their price up. Maybe they could have added 2-3 new wines every year taking a punt on a up and coming winery or winemaker. Actually, that's not a bad plan, I may try that myself. Not!
I suspect they all of a sudden had more money than they expected and didn't know how what to do with it.
From: MartinE06/12/2007 17:12:01 Hi Ric,
While the prices are a headshaker, I do not think you are right on the freight...I have bought single bottles from Grays and they repack into a case and charge as a case.
Actually they pack pretty well with individual sleeves and double thickness boxes.
TORB Comments: Martin, all I can do is go on the terms that are specifically spelt out on their website and their freight calculator.
From: Mark Wickman06/12/2007 17:34:32 Huh.. Look at those prices being paid. Surely those people must be reading things wrong. Surely a call to their retailer or a simple email to Wickmans :-) will tell them that those prices are way over the top.
From: Dennis Colquitt06/13/2007 20:11:27 If you are like me, you participate in auctions to pick up a bargain.
There are no bargains here, as you so rightly say the prices are way over the top. Of course it helps if you drip feed the total inventory on the market in consecutive sales. Missed out last time try this weeks offerings. It could go on for ever if the quantities I've heard are to be believed. Try my web site for a good deal. No 15% commission either. All cellared in climate control since release
From: RB06/13/2007 22:09:04 Dennis, at the prices you are offering, the 15% (or more) is already built in...
From: Adam06/19/2007 22:47:33 Anyone keep a list of final prices paid - would make for interesting reading!!
From: Geoff G06/20/2007 18:06:42 Yes, I'd also be very interested to see final prices paid. The site does not seem to have this search function(a pretty archaic deficiency)
From: Rob06/26/2007 05:23:31 Some of the prices seem pretty good. I bought Gartner 99 CaS Sav for less than $15 including costs. And Warrenmang for less than $15 - I rang the winery and cellar door price is $60. So I'm satisfied.
From: darren clarke07/13/2007 10:32:00 I have a fair selection of wine and i have been gob smacked at the prices people have been paying and all i can think of is they think everything on grays is a bargain and have never even looked at any wine auction sites. Lets hope they stay at grays and we get to enjoy the true wine auctions without the loonies artificially inflating the price ranges
From: Robbert Wolters08/09/2007 10:07:57 obviously plenty of suckers out there. some basic research isn't that difficult or time consuming. i mean it takes 1 or 2 mins max to tap the wine name into wine-searcher.com and get a rough price indication.
From: William Hobba08/19/2007 23:06:52 As a Heritage wine investor who did a bundle I just want to comment that some of those wines you motioned as "fool buys" have been tasted blind by some highly respected wine lovers, myself included. Some are simply stunning eg Fleurieu McLaren Vale Shiraz 2000 was tasted blind against Michael Hermitage and other top shirazes and came up trumps. Yes people are being foolish with the prices for some of the wines at Grays - but I can assure you some of the wine purchased by investors were of very high quality and are now going at bargain prices.
From: Steve S11/03/2007 19:44:40 There are some definite non bargains. I have followed grays for a while and every so often people pay stupid prices for wine. I made a mistake once when I thought I was bidding on a case lot and it was only one bottle. Luckily several other people outbid me :) Their shipping is a joke and they may well make you pay case prices for single bottles. I agree with an earlier comment that their auction system is archaic. I have pointed out some flaws to grays which they fixed but never responded to my email. They really need a review function like at Langtons that tells you how much you are bidding per bottle before you confirm. I also recommend Mark Wickmans site.
Happy drinking all!!
Copyright © Ric Einstein 2007