Before you price a bottle or glass of wine, whether it’s red, white or dessert wine, you need to know several pieces of information. The price of the wine is typically going to be heavily determined by the age of the wine and the winery where it was made. The best way to learn about wine and wine making is to visit your nearest winery for a tour and free tasting. As a seller of wine or as a restaurant owner, you need to consider several factors when establishing prices for your wine.
Observe the label on the wine bottle once it has been shipped to your store or restaurant. Every label for wine in the United States is required to have printed on it the brand name, class or type of wine, alcohol content, net volume content, and the name and address of where the wine was made (See References).
Use the information found on the wine bottle to determine the price of the wine in a wine pricing guide. The wine will typically be shipped with the current market’s retail price. However, a pricing guide or “The Oxford Companion to Wine” will be most helpful in determining how the bottle should be priced based on the class, type, brand, appellation and alcohol content.
Go to the Wine-Searcher website to look up any wine and its retail price (See Resources). Type in the wine name, whether it’s vintage or not, the merchant state, and then click on the “Search” button. You’ll then be able to see how much the wine is being sold for.
Read wine reviews, ratings from national wine-tasting events, and hold free wine tastings at your restaurant to determine the popularity of the wine. This will be particularly important when pricing wine by the glass, since you don’t want to overprice a glass of wine that does not have strong appeal with customers.
Multiply the cost of the bottle of wine by three, and then divide that number by five for the five glasses of wine that can be poured from a single bottle. For example, if the retail bottle cost is $12, then a glass would cost no more than $7.20.
References and ResourcesWhat Determines the Price of Wine?
Rule Of Thumb On Pricing Wine By The Glass
ResourcesCost Breakdown of a Wine Bottle Sale
The Oxford Companion to Wine, 3rd Edition