#QOTD: Do you think that your culture (wherever you're located) has gotten soft? Do you think we should we have 7th place trophies?
High-end wine is as much of a hoax as the art world is and as much of a hoax as a high-end restaurant charging $10K for a a once in a lifetime meal. It's as simple as supply and demand. Is a stock price a hoax? My answer? Yes and No.
I used to think that the amount I was being paid for my speaking engagements was a hoax, but then I realized that I was getting compensated for what I was doing for that event. Is an actor quietly getting $8 Million for a movie a hoax, as opposed to an athlete who constantly gets ridiculed for being over-paid? It's all an arbitrage. That same actor is putting people in the seats and ad budgets are being leveraged against the appeal of that actor/actress.
So, can I taste the difference between a $10 wine and a $100 wine? ABSOLUTELY. I live it. It's what I do. The beauty of wine is that everyone has their own palette -- similar to how people have different taste perceptions of art and music. It's simple branding. It's supply and demand. My advice? DON'T. DRINK.GOOD.WINE. It's all supply and demand. If you start to taste the good things (first class plane tickets, front row seats, etc.), you'll put yourself in the position to realize it's not a hoax. It's all perspective. It's context baby! Don't complain about it unless you're prepared to never taste it.