Uncorked: Episode 4 - Prices Down, Volumes Up
We’re back with Episode 4 of Uncorked: A Cult Wines Podcast. Hosted by our Co-founder and CEO, Tom Gearing, and joined as always by Jonathan Stevenson, EVP of Cult Wines North America, this episode features a new voice from inside the Cult Wines team, Hermione Egerton-Smith, our Senior Fine Wine Buyer.
Hermione brings years of experience and a finely tuned palate to the table, along with a refreshing perspective on how fine wine is sourced, evaluated and allocated in today’s market. From tasting trips in the Côte d'Or to managing producer relationships across Europe, she gives us a glimpse behind the curtain of wine buying at the highest level, and why it’s as much about instinct as it is data.
Naturally, we couldn’t let the moment pass without digging into our latest Cult Wines market analysis, exploring how fine wine regions have been performing in 2025 so far. In a market still finding its footing after a tough few years, this episode offers a candid and occasionally surprising look at which regions are holding strong, which are seeing renewed interest, and where the real opportunities may lie.
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What topics were covered?
Meet Hermione Egerton-Smith
We kick things off by welcoming Hermione to the podcast for the first time. As Senior Fine Wine Buyer at Cult Wines, she plays a key role in building our relationships with producers, tasting new releases, and ensuring the wines we offer meet both their reputations and their price tags.
Hermione shares how she transitioned from the fashion world into wine, and how the two careers aren’t as different as they might seem. She talks about the joy of visiting producers, tasting wines directly in cellars, and staying close to the people behind the bottles. It’s not just about spotting trends. It’s about building trust and long-term understanding of the regions in which we work.
Market Pulse: 2025 So Far
Tom, Jonathan and Hermione take stock of the year so far, exploring how the world’s key fine wine regions are performing across Bordeaux, Burgundy, Champagne, Italy, Rhone, USA and other emerging regions. What’s moving, what’s holding steady, and what’s caught us by surprise?
Rather than just reciting prices and charts, the conversation brings in real, first-hand observations: how producers are adjusting to new vintages, what buyers are responding to, and where sentiment is starting to shift. Burgundy’s 2022 vintage comes under the microscope, Champagne gets a reappraisal, and there’s a lively discussion around the next big moves in the market.
For those interested, you can read the Cult Wines' H1 2025 Wine Market Review for a complete overview.
What Makes a Wine Great Today?
The episode isn’t just about market trends. Tom poses a bigger question: What makes a wine great in the first place? Hermione offers a thoughtful answer, focused on balance, texture, and emotional connection. It’s not just about critic scores or capacity to age, but how a wine makes you feel the moment it’s in the glass.
Jonathan adds an investor’s perspective, highlighting the differences between commercial performance and greatness, and the importance of longevity, precision, and consistency when considering investment terms. It’s a well-rounded look at why certain bottles earn their reputation and price.
Final Thoughts & Wine Market Evolution
Whether you're a collector, investor or just wine-curious, this episode peels back the layers on how great wines are identified, how regions evolve, and how buying decisions are made in a global market that’s constantly shifting.
With Hermione's insight from the ground and Tom and Jonathan’s broader market views, Uncorked Episode 4 is an invitation to look at the fine wine world with a little more clarity and a lot more curiosity.
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