You can absolutely get a top quality wine for <$60. Even the fancy 18th century European wineries that sell $10,000 bottles of wine will tell you this. I know because I have visited them.

you can get great wine for under $60 but not top quality

> Scarcity is the number one factor that determines the price of an expensive wine.

just because something is rare doesn't mean it's good; a random rock on a beach is one of a kind but you couldn't sell it for a penny

> good quality wine from a recent vintage will cost less than an equally desirable wine from an older vintage, simply because people haven't drank most of it yet.

no, if it's less expensive it's because there is work involved in cellaring a wine and that adds value

> just because something is rare doesn't mean it's good

That is precisely what I am saying. Rare (and because of that, expensive) doesn’t make a wine good.

> no, if it's less expensive it's because there is work involved in cellaring a wine and that adds value

Yes, for wines that are hundreds of dollars, but that doesn’t necessarily add any quality. For wines that are thousands of dollars, they’re just scarce.

"Ostentation - pretentious and vulgar display, especially of wealth and luxury"

To a person who can't tell the difference between cheap and expensive wine, expensive wine is "strictly ostentatious" by definition.

How’d you get ‘strictly’ from ‘mostly’?

added it in after reading my comment but not re-reading the parent

I appears so that they talk about the sell price and not about how well it is made.