Vintage refers to the soil, weather and climate conditions of the region when grapes for wine making are harvested. A good vintage is important as favourable conditions produce good grapes and subsequently high quality wines. Marketability and returns on good vintage wine follow likewise.
An example of good vintage wine is the 1998 Penfolds Grange. The Grange series is recognised as Australia’s number one wine and has been for the last 25 years. The 1998 offering is said to be the best year ever in 52 year history of production. The buzz about the vintage created such an enormous demand in the market that upon release in May 2003, each bottle was sold for A$395. Sold out on the very same day, the wine began appearing at auction within a week where it traded for almost A$700 per bottle.