The price/quality relationship refers to the perception by consumers that a relatively high price is a sign of better quality. This relationship is very hard to test when comparing different products - its more simple when the product is very similar.
Table 1 Chateau Latour
| Vintage | Robert Parker | Dec-11 | May-11 |
| 2008 | 95 | € 6,707.00 | € 9,378.00 |
| 2007 | 92 | € 4,983.00 | € 5,032.00 |
| 2006 | 95 | € 5,749.00 | € 6,519.00 |
| 2005 | 96 | € 8,983.00 | € 10,293.00 |
| 2004 | 95 | € 4,671.00 | € 5,261.00 |
| 2003 | 100 | € 9,582.00 | € 11,314.00 |
| 2002 | 96 | € 5,031.00 | € 5,547.00 |
| 2001 | 95 | € 4,779.00 | € 5,375.00 |
| 2000 | 98 | € 10,798.00 | € 13,010.00 |
| 1999 | 94 | € 4,731.00 | € 5,255.00 |
| 1998 | 90 | € 4,271.00 | € 4,518.00 |
| 1997 | 89 | € 4,492.00 | € 4,552.00 |
| 1996 | 99 | € 7,396.00 | € 8,881.00 |
| 1995 | 96 | € 5,031.00 | € 5,946.00 |
| Correlation (Score to Price) | 0.71 | 0.73 | |
Take a look at each vintage with an RP score of 95, that is; 2008, 2006, 2004 and 2001. There is a 2,000 euro difference between 2008 and two other vintages, namely 2004 and 2001. In addition, both 04 and 01 are priced similarly to lower scored vintages, namely 1997, 1998, 2007 and 1999. This suggests 2004 and 2001 are under-priced and are wine investment buys.
Suggested buys - 20004, 2003 and 2001.
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