Thursday, April 10, 2008

Buying Mini-Vineyards

The Wall Street Journal talks about what could be a great compromise between being a winemaker, a tourist, and going to Crushpad: Mini-Vineyards

Mr. Abihaggle isn't overseeing the construction of a luxury polo estate; he's the project manager of the 2,000-acre Santa MarĂ­a de los Andes, a development that sells parcels of small, ready-made vineyards.

While an acre of good vineyard land in California's Napa Valley can go for $50,000 to $300,000, an acre of Mendoza land runs from $4,000 to $16,000, says Juan Carlos Pina, manager of the Bodegas de Argentina, a winery trade group.

Buyers are unlikely to make money simply by growing grapes and trying to sell them to winemakers, says David English, an American real-estate scout whose Mendoza-based company, English & Associates, has placed clients in the Los Amigos, Armani and Vines of Mendoza projects. "Being a grape farmer is not a moneymaking proposition. People make money by making wine and selling it overseas," says Mr. English. "People purchase at these projects because they want a turnkey solution and don't want to make a lot of decisions. And they pay a premium for it."

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