Value is all relative.
In China, the scant few wine lovers are all totally into points, and see wine as a status symbol, not really so much a luxury item. As with HK, any 100point wine is ridiculously expensive. Wines in HK are half the price of here, except the 100 pointers, which are, amazingly, more expensive than in Australia in most cases!!
I was in one of Shenzhen's best restaurants on Saturday night, and there were rows and rows of Petrus in a glass cabinet, the 1990 was listed at 412,000RMB
, even the 1993 would set you back 328,000 RMB!!! Sommelier reckons they sell one or two bottles a week, ! PS, the 1990 is 65,000AUD, if you are unsure of the exchange rate. Haha, as I said, it is all relative.
Actually, the funny thing was that there was a mountain of Petrus, one vintage of Jadot GC, can't remember which, and the next best wine seemed to be a columbia crest Chardonnay lol.
$400 is my max on any wine, and that is usually an old wine. Most of my wine purchases are between $50-200.
If you want to mature the wine, as you must, then too often people ignore the actual cost of the wine.
At a purchase price of $800, at 20 years the wine has actually cost you $2650 at 6% compound interest, not counting storage costs.
I would spend $300 on Grange, I reckon in the world market, that is what it is worth. But then again, I also reckon the FG's are worth $500, and DRC RC $1000, so clearly I am out of touch with the market!!!