The newest cult offering from Manfred Kankl, NEXT of KYN, was recently offered at $1100 for 3 bottles plus a magnum. The debut vintage was reviewed at 94-96 by Robert Parker, while the wine was still in the barrel. Here’s why I passed.The cost is $220/bottle and $440/magnum before tax, shipping, and the inevitable auction house fees when you re-sell. Tax varies by state, but I’ll guess 7%, or $77 for our purposes. Shipping to your house and then to the auction house will cost $30, if you wait until it is cool enough for ground transportation to be safe. So the cost to get the wine to the auction house for sale is $241. Auction house fees run 12% to 21%, plus 1% insurance. So, the minimum reasonable break-even price for flipping NEXT of KYN is 13% higher than $241, or $272/bottle.
Now let’s look at the competition:
2006 Sine Qua Non Raven Series Syrah (RP 96) retails for $200
2007 Sine Qua Non Labels Syrah (RP 95-98) retails for $225
(prices on wine-searcher as of August 4, 2010)
The same winemaker has higher scoring wines for much cheaper. If you really want NEXT of KYN, just wait a year and buy it at retail. At least you won’t get stuck with the magnum.
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4 comments:
Love your blog. I've thought about speculation for a long time but previously haven't had the resources. What do you think about the most recent SQN (2008 syrah and grenache @ $145/ and the Vin de Paille Roussanne $100/bt.)? After about 10 years, this is my first allocation letter!
Love your blog. I've thought about speculation for a long time but previously haven't had the resources. What do you think about the most recent SQN (2008 syrah and grenache @ $145/ and the Vin de Paille Roussanne $100/bt.)? After about 10 years, this is my first allocation letter!
Thanks, Jeffrey,
Congratulations, and absolutely take your SQN allocation. Not everything that they put out will be super-profitable, but their products are fairly priced, delicious, and once in a while - tempting to flip.
Or you could sell it on a wine forum for $2600 in one day like is happening now.
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