[Mondavi's Napa was the Wild West of winemaking. For the dozen wineries in operation in 1966, costs were low, there was room to grow and mistakes weren't fatal. The challenge was to persuade Americans to drink wine at all. Today, high costs have created a region dominated by small producers. Four hundred wine brands with limited landholdings compete for a share of the top 10% of the U.S. wine market.
When Mondavi planted his initial 12 acres in Oakville, an acre cost less than $10,000, according to Vic Motto, chairman of Global Wine Partners, an investment bank dedicated to the wine industry. He gradually expanded to 1,400 acres.
Now an acre of "good" Oakville vineyard land costs an average of $250,000. Prime land can cost $500,000. Most of Napa's 450,998 acres of planted vineyards are owned by individuals, Motto says. Big holdings are the exception. "Napa is really hundreds and hundreds of small growers." Most are economically viable, but no one is getting rich quick, Motto says.
Will one of the boutique producers rise to fill Mondavi's shoes? Without him, there is no individual or institution who personifies Napa, says Jacques Lurton, scion of one of Bordeaux's most prominent winemaking families. "Mondavi not only created Mondavi wines, he created Napa."
Whoever takes his place, Lurton says, will be someone who can transform Napa Valley yet again. "That person will be the new hero," he says.]-LAT
