More on Mark-Up
The Wall Street Journal ran a great story today on the science (or rip-off art) of marking up wine prices at restaurants. The article, titled Cracking the Code of Restaurant Wine Pricing, points out the glaring difference in prices of the same bottle of fine wine or champagne. The point couldn't be highlighted better than the initial example the author provides, saying -
"At Legal Sea Foods in Washington, a bottle of 1999 Dom Pérignon Champagne costs $155. At McCormick & Schmick's, less than half a mile away, the same bottle goes for $250. At Carnevino in Las Vegas, it's $450, and at Per Se in New York, it's $595."
A nearly $450 dollar bottle of wine is a glaring difference for a bottle that'll be gone in under an hour, not to mention the fact that the retail rate for the same bottle is less than even the cheapest of restaurant prices. The piece's author, Juliet Chung, lists a host of reasons that a restaurant may mark up a bottle more than the competition. When they bought the bottle, how many they bought, and who they bought it from all make an impact on how much a restaurant owner initially pays for a choice variety like Dom. Nevertheless, as I mentioned in a post a few days ago, you're geographic location plays as big a part as any other factor in the process. It's after reading stories like this that I wonder whether living in NYC was a great decision after all . . . so many good restaurants and wine bars, but who can afford them?
"At Legal Sea Foods in Washington, a bottle of 1999 Dom Pérignon Champagne costs $155. At McCormick & Schmick's, less than half a mile away, the same bottle goes for $250. At Carnevino in Las Vegas, it's $450, and at Per Se in New York, it's $595."
A nearly $450 dollar bottle of wine is a glaring difference for a bottle that'll be gone in under an hour, not to mention the fact that the retail rate for the same bottle is less than even the cheapest of restaurant prices. The piece's author, Juliet Chung, lists a host of reasons that a restaurant may mark up a bottle more than the competition. When they bought the bottle, how many they bought, and who they bought it from all make an impact on how much a restaurant owner initially pays for a choice variety like Dom. Nevertheless, as I mentioned in a post a few days ago, you're geographic location plays as big a part as any other factor in the process. It's after reading stories like this that I wonder whether living in NYC was a great decision after all . . . so many good restaurants and wine bars, but who can afford them?
posted by My Wine News | 11:08 AM
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