Yahoo Finance Attention wine drinkers: Here's how to get the most bang for your buck at bars
Wine drinkers surely know they can save a lot of money by avoiding bars. But they might not know just how steep the price premium can be.
According to new research from Finder, the average mark-up is 198 per cent, or $64 per bottle. Considering Canadians drink an average of 20 bottles of wine a year, that’s an extra $1,280.
Prices for a bottle typically start around $30-$40 at a wine bar. The average price is higher, at $108.
Cheaper wines don’t stay cheap at bars. In fact, lower-priced bottles are marked-up the most.
“If your tactic when choosing a wine is to pick the second or third cheapest bottle, you’re probably paying more of a mark-up,” said Angus Kidman, Finder’s global editor-in-chief, in the report.
“Our research found that wine in the lowest price point bracket ($30-$50) has the biggest markup of any price range and the lowest ratings.”
Rosé offers the best relative value proposition of any wine type, with the smallest mark-up of 165 per cent.
Red wine is the least cost-effective, at 202 per cent. Unless you opt for Cabernet Sauvignon, which offers the best value grape variety with a markup of ‘only’ 94 per cent. On the other hand, Verdejo comes in at 350 per cent and Gamay is 255 per cent.
If white wine is more your fancy, then look for Chenin Blanc, with a mark-up of 149 per cent.
It’s a bit of a mixed bag for foreign wine lovers. On average, bottles from Australia are marked-up by 79 per cent. Both Greek and Argentinian wines are marked-up by 84 per cent.
On the other end of the spectrum, South African wines cost about four times the retail price. Your wallet will thank you for avoiding German (292 per cent), Portuguese (254 per cent), and Spanish (228 per cent) wine when you’re out.
If you’re in the mood for a vintage, skip 2011 and its (253 per cent) mark-up. Instead, pick something from 2009, or 2012.
Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains
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