Wednesday, October 16, 2013

The Secret of Robert Parker’s Nose

As the political fiasco en Washington continues, it is becoming clear that nearly any asset class that is not the US Dollar stands to benefit were the unthinkable to happen. Here at The Mint, we have been investigating one of the more tasteful alternative investments: Fine Wine.
Today, we continue by presenting to you a man whose nose literally moves the Market, Robert Parker. Enjoy!
Tempranillo Photo credit: Mick StephensonROBERT PARKER “THE WARREN BUFFETT OF WINE”
Robert McDowell Parker Jr. is the world’s most influential wine critic. Born in Baltimore, Maryland (USA) on July 23rd, 1947, he continues to guide the fine wine industry with the tip of his nose, still going strong at the age of 66.
The Robert Parker Wine Rating System
The Robert Parker wine rating system (Parker Points) is a commonly used scoring system to rate fine wines. Although there are various, universally adopted rating methodologies, usually based on 20-point scales, Robert Parker’s 50-100 point scoring method has been very popular in the fine wine industry.
Robert M. Parker Jr. is undoubtedly the world’s most renowned wine critic. Since the late 70’s Robert Parker has been a prominent figure in the world of fine wine; his publication ‘The Wine Advocate’, an independent wine consumer guide, first published in 1979 draws a following of at least 50,000 subscribers to date.
Ever since the relatively new market of fine wine investment has taken off, wine connoisseurs, financial experts and investment brokers have been paying close attention to Robert Parker’s ‘million dollar nose’.
Robert Parker Jr. – the Million Dollar Nose due to the fact that Parker’s ratings have been known to significantly affect the value of wines and cause severe price fluctuations in the market, any investor in the fine wine industry should be well aware of Robert Parker’s opinions.
Robert Parker introduced his own wine rating system because he felt that critics often undervalued or overestimated a fine wine, mainly due to conflict of interest, for example the critic having a financial interest in the wine they are rating. Additionally, Parker felt that the commonly used 20-point system did not offer enough flexibility, and often resulted in unjustified, misaligned ratings. Therefore, Robert Parker’s 50-100 point quality scale (referred to as ‘Parker Points’) offers a widely accepted industry standard by which to gauge fine wine quality.
Robert Parker Wine Rating System
• 96 – 100
An extraordinary wine of profound and complex character displaying all the attributes expected of a classic wine of its variety. Wines of this calibre are worth a special effort to find, purchase, and consume.
• 90 – 95
An outstanding wine of exceptional complexity and character. In short, these are terrific wines.
• 80 – 89
A barely above average to very good wine displaying various degrees of finesse and flavour as well as character with no noticeable flaws.
• 70 – 79
An average wine with little distinction except that it is a soundly made. In essence, a straightforward, innocuous wine.
• 60 – 69
A below average wine containing noticeable deficiencies, such as excessive acidity and/or tannin, an absence of flavour, or possibly dirty aromas or flavours.
• 50 – 59
A wine deemed to be unacceptable.
Strange as it sounds, Mr. Parker’s nose can make or break a vintage in terms of market value. He has risen to this status by breaking the mold in terms of rating Fine Wines. What will be your great contribution to the world? We encourage you to find and pursue it, for every calling, be in sniffing fine wines to pursuing monetary theory down uncharted paths, is a great contribution to the mosaic of life in which we move and breath. Stay tuned for more information on Fine Wine Investing. If you are interested in learning more about this asset class, please complete the form below: