Many of you reading this are probably sitting on more tea than you can consume in your lifetime, or at least some multiples of years, if not decades. For those of you who fit that description, I have a story for you.
A relative of a family friend recently passed away due to a heart attack. It seems like he was interested in a number of things, tea being one of them, and teapot being another. I was called in to take a look at what’s there, to see what can be done about it. I brought along a couple of friends who are tea vendors, since I wasn’t going to buy what could be a couple hundred cakes of stuff.
Turns out there weren’t a couple hundred cakes – there were maybe 60 or 80, plus some random liu’an, so on and so forth.
You can see some of the cakes here. You might notice a few things, one being that almost all of the tea is still shrink wrapped. The second is that they all look old. These teas seem to be purchased from multiple vendors over a number of years, but probably bought no earlier than maybe the early 2000s or so. Some of the teas are supposed to be 70s or 80s tea, more are 90s or maybe early 2000s. Some are cooked, others raw. It’s not a big collection, but it’s a collection.
And the guy never got to drink any of these.
Among these cakes is one, placed in a box on its own. We opened it, and before us was the classic Red Label wrapper. When I picked it up, however, it felt funny – too light, and the cake’s shape is not right. Upon further examination, it is pretty clear that this must’ve been a fake, and not a very good one either. The price he paid, however, was real – the price tag was still on it from a department store in Hong Kong, for the grand price of $120000 HKD, which is about how much a cake of the 50s Red Label would’ve cost about 8-10 years ago. These days it’s more like $100000 USD a cake.
It’s still shrink wrapped too.
It’s hard to tell what kind of condition most of the cakes are in, since they’re wrapped so carefully from the vendors. It’s pretty obvious that most of them are pretty wet – some terribly so. The cakes that were not shrink wrapped were on the heavy side of traditional storage, to the point where they would be rather heavy going for those who are not used to the taste, and would depress the relative resale value. But it seems like the guy liked it that way – he has a lot of cooked tea, and heavy-going seems to be his preferred profile.
Of course, I don’t know what he’s drunk, so maybe he consumed most of his teas already. He passed before getting to 70, so while he wasn’t exactly young, he wasn’t very old either by today’s standard. The Red Label, I suspect, was a pride and joy, and he kept it separately because he paid dearly for it. Even though it’s a fake, or maybe precisely because it’s a fake, he was the only one who was going to be able to really enjoy the tea – he would think he’s drinking the real thing, and since we know that paying more for wine gives you more enjoyment for it, I think the same pattern probably applies to tea. He would’ve really loved the taste of the cake, thinking that one session is costing him upwards of $2000 USD.
Many of us sit on tea that we say to ourselves “I’ll drink it for that special occasion” or “I’ll wait till later before I enjoy it” or “I can’t bear the thought of drinking all of it.” Well, don’t let that hold you back, because chances are you are the only one who’s going to enjoy it. We can always delude ourselves to think that maybe our kids, or relatives, or whoever, will like tea, but more often than not, it’s just not the case. At least here in Hong Kong, there’s the option of selling it back to people who are in the tea trade (my vendor friend seems to do it a couple times a year – called by various friends of friends, etc). Good luck doing that in the States or Europe. So, drink up!
Yeah whisky prices have been leaking too, as well as luxury watches. I wrote a post maybe a decade ago…