It's rare to remember a conversation held 12 years ago with as much clarity as this one but such is the power of great wine and ideas when they collide. The conversation in question was held over a bottle of aged Barolo shared with a wine marketing man Ed Donaldson, who said "This wine reminds me of a plan that our family has put in place because we're really aware that people drink our wines as soon as they're released, which is basically too young to taste what we're aiming for. Because we love wines that taste of tertiary, developed flavours as well as of primary fruit, we've decided that from next year onwards, we're going to hold back a portion of our wines to re-release them in 10 years time."

This year represents the eleventh release of Pegasus Bay's annual "Aged Release" programme and, as Ed Donaldson hoped, the popularity of these aged wines has grown beyond hopes or expectations. 

Since the first release, in 2016, the amount of Aged Releases has grown exponentially. Initially, one pallet each of Pegasus Bay's Riesling, Pinot Noir and half a pallet of the winery's top Pinot Noir, Prima Donna, were released.

First up, the wines are all released as business as usual about two years after vintage (which is already longer than many wineries) but a portion is held back for later release. Ed says that it soon became clear there was going to be a much bigger than anticipated demand for the Aged Release wines, even well before the family owned winery had released the first ones. 

The concept has grown substantially as a result and now been formalised into an investment in the taste of aged wines that no other New Zealand winery can rival. There are other wineries that intentionally hold back their premium wines (Dog Point Vineyards Section 94 is one exceptional example) but there is no one else putting as much resource into this programme of 10 year ageing as this winery. Yet. And it doesn't come across as being all about marketing. If that is the point of it, the Donaldsons are extremely adept at avoiding the impression of being all about marketing and promotion. 

Ed classically understates the winery's investment in their customers when he says that he started to put "a bit more aside", by which he means he quadrupled how much of the Pinot Noir and Riesling are now part of the Aged Release programme and simple "more Prima Donna when it's made" (which is not every year). 

Eleventh Aged Release in May 2026

The eleventh Aged Release Riesling, Pinot Noir and Prima Donna from Pegasus Bay will officially be released in May this year.

What is the cost of ageing wine?

The cost of keeping wine for a decade or more (or less) is significant. There's the cost of buying the wine in the first place in order to invest in its future flavour - rather than paying for it as a fast moving consumable to enjoy right now.

Then there's the potential cost of storing it in a temperature controlled (or stable and cool) environment, which could be a wine fridge (electricity costs). And having the willpower not to crack it open too soon is as much of a hidden cost, as is finding a place out of sight, out of mind and doing your best to forget you've got some great wines that taste pretty damn good right now.

Perhaps the biggest (and most unseen) cost is knowing which wines are worth keeping. That can cost in experimenting with different wines to find the ones that can age (if you have the confidence) whereas a winery that's intentionally ageing its wines prior to release has a heads up on what's worth ageing and keeping in its cellars in the first place.

For the winery in question, it costs in lost revenue at the outset because, thanks to Pegasus Bay's position 40 minutes' drive north of Christchurch city, it has forged a strong local market for its wines as well as further afield in export markets. But... 

Who wants to buy aged wines? 

The demand for the wines has been far bigger than the Donaldson family (owners of Pegasus Bay) originally anticipated.

"The wines usually sell out very quickly," says Ed, "As time has gone on and more people are aware of the Aged Release programme and more export markets are requesting allocations of these wines."

Given that typically four times the initial amounts are now being sold as "Aged Releases - and there's demand for allocations - it seems that plenty of people do want to buy older wines. It saves both the trade (restaurants, upmarket cafés and wine bars) from finding the budget and space to cellar wines themselves, which is attractive when times are tight and savvy wine sales people see the clear benefits in having a point of difference. And for niche wine stores, it also offers a special sales each that with integrity as these older wines come come directly from temperature controlled cellars at the winery. 

What's next?

Bel Canto Dry Riesling has aged better and for longer than the winemakers and Donaldson family anticipated so they have begun putting stock aside from the 2024 vintage for its first Aged Release in 2034.

When is the 'right' time to drink wine?

If reports from wineries and marketers are to be believed, fewer young people aspire to cellar wines today and very few restaurants have the capacity to invest in aging wines so it can be a challenge to find robustly cellared wines at an affordable price.

"We don’t want to release these wines when they're at the end of their lives," says Ed Donaldson, "but rather when they're showing a bit of interesting, tertiary development in flavour and still retain freshness."

Which makes me think that wine has more in common with people than we often give it credit for. 

Wines of the week

18.5/20
2016 Pegasus Bay Aged Release Riesling RRP $45

Power packed Riesling with juicy succulent zesty lemon, candied mandarin and tangelo aromas, all intermingling with each other in each sip. This wine is 10 years young, showing exciting depth and intensity of flavour in a medium sweet style with excellent acidity driving the nervy taste and flavour. Delicious and has at least another eight years of life ahead... 

19/20
2016 Pegasus Aged Release Pinot Noir RRP $80

This latest release from Pegasus Bay is worth the spend, both for the deliciousness and the complexity that shines through in its savoury earthy flavour qualities with layers of spice (think: dried mushrooms, a hint of nutmeg, pepper and earthy freshness). Dried cherry aromas intertwine with cedar, with fresh acidity underpinning each sip, drawing it to a lingering finish. Great density and more time up its sleeve.

18.5/20
2016 Pegasus Aged Release Prima Donna Pinot Noir RRP $140

Prima Donna is the top Pinot Noir from Pegasus Bay and is a blend of the most interesting barrels, selected by the winemaking team. It's also typically more developed in taste, both on its first release and when re-released as part of the Aged Release programme. Drinking well now, it has more savoury flavour components than its sibling, above, and will potentially peak sooner. 

Learn more and buy Pegasus Bay wines here.