How to Price Bottles of Champagne to Sell
Bouteille de champagne floue, flute de champagne nette image by Bruno Bernier from Fotolia.com
Champagne is a sparkling white wine produced exclusively in the French region of the same name. There are also imitations, which are not from the Champagne region and are spelt with a small "c." Much like conventional wines, Champagnes vary tremendously in price.
However, unlike with conventional wines, Champagne is not meant to be aged for a long time before consumption and does not increase in value with age. Thus, pricing Champagne for sale is a somewhat more subjective process compared to pricing wine and requires some familiarity with the bottle and its reputation.
Make note of the types of Champagne in your inventory. Take note of brand, sweetness, volume and age. This will help you determine how to price one bottle relative to another bottle.
- Champagne is a sparkling white wine produced exclusively in the French region of the same name.
- There are also imitations, which are not from the Champagne region and are spelt with a small "c." Much like conventional wines, Champagnes vary tremendously in price.
Go to stores, both online and in your area, to determine the average selling price for Champagne. Since Champagne is a highly prized luxury good, its prices may drop in economic recessions when people cut down on luxury consumption in favour of cheaper alternatives.
Check out reviews for the Champagnes you have in your inventory. Because Champagne is not valued on the basis of objective factors such as age, pricing it is more subjective than pricing wine. A bottle's value is usually determined by the reviews it has got at wine competitions.
Assess your market. If you are selling Champagne internationally through an online vendor, you can charge the going price listed on wine review websites. If you are selling Champagne locally, you will need to take into account the demographic group you are selling to. The affluent will purchase Champagne at relatively high prices regardless of economic conditions, while middle class buyers will not buy Champagne at going rates unless economic conditions are good.
- Go to stores, both online and in your area, to determine the average selling price for Champagne.
Speak with connoisseurs. Champagne and wine connoisseurs will be able to tell you what kinds of consumers there are in your area. Wine connoisseurs often have very personalised tastes and some will be willing to pay more than usual for a bottle that they've been looking for a long time.
Set prices for each bottle individually, keeping all market factors in mind. For each bottle you price, take into account the market in your area, buyers that bottle might appeal to, the bottle's scores at competitions and the brand of the bottle. Every bottle has a unique combination of qualities that make it valuable to individual consumers.
Based in St. John's, Canada, Andrew Button has been writing since 2008, covering politics, business and finance. He has contributed to newspapers and online magazines, including "The Evening Telegram" and cbc.ca. Button is pursuing a Bachelor of Arts in political science from Memorial University in St. John's.