"Wine is valued by its price, not its flavour." Ascribed to Anthony Trollope, The Belton Estate.
Does a high price guarantee high value? The rarity of a wine (small vineyards, low yield vintages, high-quality vintages in exception etc.) and the
general wine drinkers' demand determine to price to some extent. Otherwise the the demand is fueled by a 'reputation' and the PR/marketing by wine merchants, producers, collectors
who hardly drink their wine but are aiming for speculative profits, and others. Only a - sometimes small - part of the price of well-known wine is due to its
Sometimes the quality of a wine justifies a price, e.g. based on labour-intensive high-quality production methods, or the unusually good weather conditions in en excellent year. To distinguish hype from quality, we are tasting and rating the wines independently from any marketing manipulation.