The Relation between Australian Wine Show Results and Prices

23 Pages Posted: 28 Apr 2020

See all articles by Edward Oczkowski

Edward Oczkowski

Charles Sturt University - Faculty of Commerce

Date Written: July 2019

Abstract

This paper assesses wine show results and their relation with wine prices across seven Australian shows. Consistent with previous studies, only a moderate degree of agreement for medals exists among shows. The correlation of wine show points across shows is also only moderate. Hedonic wine price functions, which employ show medal/points as direct measures of quality, indicate that for some shows estimated premiums are statistically significant and may possibly be practically important. The relation of show opinion with prices, however, is reduced for models which recognise the separate impact of objective quality and show opinion on prices. The results imply that producers should seek to improve the objective quality of their wines to achieve price premiums. Producers could also selectively target some wine show opinions to gain additional higher prices.

Keywords: wine prices, wine experts, Australian wine shows

Suggested Citation

Oczkowski, Edward, The Relation between Australian Wine Show Results and Prices (July 2019). Australian Journal of Agricultural and Resource Economics, Vol. 63, Issue 3, pp. 389-411, 2019, Available at SSRN: https://ssrn.com/abstract=3586819 or http://dx.doi.org/10.1111/1467-8489.12310

Edward Oczkowski (Contact Author)

Charles Sturt University - Faculty of Commerce ( email )

Wagga Wagga, NSW 2678
Australia
061 02 69332521 (Phone)
061 02 69332125 (Fax)

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