Wait a second... A wine's price indicates three things: 1. Its cost of production. An ice wine, for example, costs more to produce because the cold climate in

Wait a second... A wine's price indicates three things: 1. Its cost of production. An ice wine, for example, costs more to produce because the cold climate in which it is produced leads to poor harvests. A more expensive production may take prune their trees more, giving a particular quality to their (eventual) grape juice. Some technology allows for more efficient processing of grapes. Cork is more expensive than screw top. 2. The supply and quantity demanded of said wine. The cost matters in that it sets the amount of supply. Knowing that most people are going to be unwilling to pay 35 bucks for a bottle of ice wine, not much is produced. There are plenty of good, inexpensive wines. This isn't 1949 where an inexpensive bottle of wine is going to be little different than vinegar.