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Having just come back from New Zealand where wine in restaurants is commonly priced at 50% above the retail price (up to 100% in smarter establishments), I realise that we are being ripped off in Britain. The mark-up on wine in restaurants used to be about 3 times or 200% but is increasingly four and five times. Remember that I am comparing against retail prices whereas the restaurant buys at wholesale prices.
Restaurants cleverly buy from "trade" lists so that the names or brands are different from the high street names, making comparisons more difficult. However a little research gleaned from your local supermarket wine shelves will put you in a position to judge when you are being ripped off. A generic Bordeaux Claret, usually under a Chateaux name you've not heard of, should not cost more that £5.00 retail so if, as is common, it is offered to you at more than £15 you've been "had".
South African Chenin Blanc is a good, reliable, cheap white wine retailing for about £4 so I suggest you don't buy if it is more than £12 in your local eatery. I could give many more examples but not unless this "Gripe" generates enough interest.
How will the restaurants cope on reduced profit margins? Simple, they will sell more when the wine price mark-up is seen to be reasonable. If I go into an eating establishment where the cheapest wine on the wine list is £20 (quite common now) I ask the wine waiter for a jug of tap water! If enough people did the same what an effect we would have!
My suggestions are first not to buy wine which is more than three times the retail price but more importantly, perhaps to start a campaign of naming those establishments with huge wine mark ups that spoil the experience of dining out.