In recent months, COGNAC MAG has been receiving quite a few messages from people who would like to sell us old cognac bottles or people just asking if the bottles are worth anything more now than they were at the time of purchase. In other words, asking if such bottles would cost significantly more than their counterparts today. Though we are not in the business of selling or buying the spirit, we have realised that there is quite a number of people who are keen to know this; perhaps settle it. Essentially, the question is, should I sell or just savour the drink?
So we decided to write a piece that would shed some light on the matter. Before we answer the question of value and whether bottled cognac ages, perhaps the best place to start is at, “what exactly is aging and what benefit does it bring to the table?”
What does it mean to age? What’s the benefit?
Aging is, technically, the transformation of biomolecules such as polyphenols (mostly tannins which are also found in grape skin and seeds) as they interact with air and their surrounding environment. At its best, aging enhances the flavours and aromas of a drink and as they undergo the process, they forgo the harshness in taste; leaning more toward a smoother, more leathery feel to the palates. They also shed the prominence in fruitiness, in exchange for a more earthy and/or woody character. The result of which being a far more complex and pleasant drinking experience.
Cognac Aging
Cognac ages in oak barrels. In there however, is more than just aging that takes place. Much of the flavours and character of a cognac is derived from the spirit’s interaction with the barrel’s wood; a certain chemistry. Remember, at the time the spirit is transferred into the barrels, it is still vodka, basically; a colourless spirit straight from distillation, though vodka is distilled from grain for the most part, as opposed to wine (grapes) for cognac and much of its flavour at that point dominated by its interaction with copper by way of the potstills.
So in the barrel is where the spirit gets its colour, flavours, aromas; pretty much all of its character. The aging process therefore is facilitated by the compounds that are actively extracted from the oak wood and the complex chemistry that take place there; influenced by the environment within which the barrels are situated and other factors. Off cause, this is an overall view of aging here, the exact process is itself complex and sometimes a brand secret.
Upon bottling, the aging stops. That, in my books, is a good thing. Firstly, because aging does not necessarily make a drink better, even for wine. Only about 5 to 10% of wines improve after aging for one year and only about 1% improve after five years. The majority of wines (over 90%) either don’t improve or get worse as they age.
So the fact that spirits such as cognac remain virtually unchanged after bottling is a big plus in this universe. I don’t know about you but for me, a little predictability wherever possible is a more-than-welcome trait here. Rare as it is.
The Question of Value
When it comes to value, since the cognac remains unchanged, there’s no technical reason for the value to change either. That much is just common sense. That bottle from the 50s that was passed down from generation to generation won’t have magically transform from a VSOP into an XO.
However, there’s a lot that goes into determining anything’s value, much of it just plain old subjective consideration. As we know, life happens within a context and sometimes it’s that context that gives value rather than the item itself; in our case the beloved spirit. Such things as a historical association, availability, or other factors can greatly influence the value.
Last year (2016), South Africa’s oldest brandy bottle; a Van Ryn’s 42 year old (age before bottling), was sold at auction for about R 42,000 (over US$ 3,000). In the same year, in November, a bottle of Louis XIII L’Odysée d’un Roi special edition was sold for £ 188,000. Whereas a month ealier we saw, at London’s Hedonism wine shop, a bottle of Massougnes 1801 Cognac sold for £ 220,000 (about US$ 272,000 at the time). Ultimately, I reckon, the value of anything is whatever the buyer is willing to pay at any given time.
Sell or Savour?
Back to the big question then. Sell or Savour? If it was me, I’d savour the amber liquid and keep the bottle!