Burgundy winemaker Alex Gambal was recently featured in an “Ask a Winemaker” video where he discussed land prices in the Côte de Beaune, one of the premier winegrowing regions in the world.
His basic premise was that Grand Cru vineyard prices have become so expensive (he paid $1 million USD for one acre of Bâtard-Montrachet) that there is less than a 2% return on investment. According to Mr. Gambal people buy these properties today simply for the cachet it adds to their vineyard portfolio. So it’s a status purchase, kind of like winery owners’ bling.
Click on the link below to watch the interview.
www.youtube.com/watch?v=5jTcfKbRIAg
