The Essence of Tea just release pre-order info. Is anyone as torn as I am? I believe EOT makes the highest quality private label cakes out there, but the cost keeps creeping up and becoming more prohibitive. I think that EOT is very fair with pricing and consistent with what we've seen in the puerh marketplace, but it still makes me pause. In the "old days" (perhaps four years ago), I could easily purchase a cake of each variety without a second thought. Now I find myself wondering if I can even purchase two. This year the price ranges from $61 to $83, depending on the region. Again, it's probably fair given the quality, but I suppose I'm just disappointed that what I've grown to love keeps getting more and more exorbitant.
(BTW... no one needs to make a Hai Lang Hao reference, I know EOT is a bargain in comparison.)
May 22nd, '11, 06:12
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Re: EOT 2011 Cakes
I think these prices need to be quoted within context. For the last three years, I've kept the same margins on the tea I buy and press. The simple fact is that pure old tree maocha is becoming ever more sought after and consequently ever more expensive to buy. I'm sure that you'll see this reflected across the board from producers who make pure old tree tea from Xishuangbanna this year.
As I'm sure you're well aware, the price for good quality old tree puerh is still inexpensive on a gram per gram basis compared to good quality examples of most of China's other teas. As producers work to improve the quality of the processing and as the demand from the domestic Chinese market increases for better quality tea, unfortunately I think that the prices for old tree maocha are set to steadily rise in the coming years.
I think the Chinese market is evolving. From what I've seen and from people I've talked to, many Chinese puerh drinkers seem to be 'graduating' from drinking the big factory teas and coming to appreciate the old tree teas. Unfortunately for us, there is a finite amount of old trees and no shortage of tea drinkers in China.
The prices this year kind of shocked me too. Last year the drought was on everyone's lips, the reduced yield easily explained the rise in prices. This year there was no such explaination. The price was just higher. Shocked by the record prices in Lao Banzhang, I spoke with a farmer there and asked him how the prices were decided each year. "Easy", he said, "we just take the price from last year and add a bit". Understandably, they have no intention there of reducing their prices.
As I'm sure you're well aware, the price for good quality old tree puerh is still inexpensive on a gram per gram basis compared to good quality examples of most of China's other teas. As producers work to improve the quality of the processing and as the demand from the domestic Chinese market increases for better quality tea, unfortunately I think that the prices for old tree maocha are set to steadily rise in the coming years.
I think the Chinese market is evolving. From what I've seen and from people I've talked to, many Chinese puerh drinkers seem to be 'graduating' from drinking the big factory teas and coming to appreciate the old tree teas. Unfortunately for us, there is a finite amount of old trees and no shortage of tea drinkers in China.
The prices this year kind of shocked me too. Last year the drought was on everyone's lips, the reduced yield easily explained the rise in prices. This year there was no such explaination. The price was just higher. Shocked by the record prices in Lao Banzhang, I spoke with a farmer there and asked him how the prices were decided each year. "Easy", he said, "we just take the price from last year and add a bit". Understandably, they have no intention there of reducing their prices.
Re: EOT 2011 Cakes
I read an interesting program transcript (in Chinese) on CNTV website:
http://jingji.cntv.cn/20110425/112098.shtml
It suggests pu bubble is coming back after 2007. This time it is not in the wholesale market, but at the place when raw material is produce, well known tea mountains and farms in those places. It also says most of the risk is bear by small factories as they hold large amount of moa cha.
As I cannot afford to buy 2 cakes for every kind EOT 2011 production, I only choose the ones I want the most and have samples for the rest. Later in the year, if I really like other cakes after tasting the samples and 'cannot live without them', I might buy more.
http://jingji.cntv.cn/20110425/112098.shtml
It suggests pu bubble is coming back after 2007. This time it is not in the wholesale market, but at the place when raw material is produce, well known tea mountains and farms in those places. It also says most of the risk is bear by small factories as they hold large amount of moa cha.
As I cannot afford to buy 2 cakes for every kind EOT 2011 production, I only choose the ones I want the most and have samples for the rest. Later in the year, if I really like other cakes after tasting the samples and 'cannot live without them', I might buy more.
Last edited by apache on May 22nd, '11, 08:11, edited 1 time in total.
Re: EOT 2011 Cakes
I would say from $61 to $116! if you normalize the price. Hope you see what I mean.heatwaves wrote:... This year the price ranges from $61 to $83, depending on the region. ...
May 22nd, '11, 10:43
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Re: EOT 2011 Cakes
I think this has been a normal price range for pure material arbor tree tea. The puerh bubble is demonstrated more on some big factory routine products.
Another factor to consider is, in the past a few years, very unfortunately, US$ deflated more than 20% in the international market.
Prices of a lot of things (ranging from European skincare to tofu of my local groceries) increased 30% to 50%.
Being selfish, I wish the day when US$ : CN¥ climbs to 1:5 doesn't come too soon.
Another factor to consider is, in the past a few years, very unfortunately, US$ deflated more than 20% in the international market.
Prices of a lot of things (ranging from European skincare to tofu of my local groceries) increased 30% to 50%. Being selfish, I wish the day when US$ : CN¥ climbs to 1:5 doesn't come too soon.
May 22nd, '11, 12:50
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Re: EOT 2011 Cakes
Yeouch, well no more of buying multiples of beengs.... I knew it was going to be painful this year, but it always hurts when the bill comes.
Still, looking forward to trying everything...!
Still, looking forward to trying everything...!
Re: EOT 2011 Cakes
These prices doesn't seems to me too expensive for EoT's quality teas. People seem also to think that 2011 should be a good year. 
Unfortunately, I'm not in the preorder process. Probably not a sufficient rich customer to buy too much tea
But for such price, I prefer to buy some more aged tea, even if quality si not so high. I'm thinking that cakes should maturate in a very long time in Europa. I was in China last month and found some good teas about 8-15 years old, drier conditions that EoT ones (for me really better than its 1993 7542 for instance), at prices from 40$ to 120$. I prefer buy such teas, new ones should take 30 years in Europa to arrive at this (I have a bing bought many years ago which has not evolved a lot) ...
Unfortunately, I'm not in the preorder process. Probably not a sufficient rich customer to buy too much tea
But for such price, I prefer to buy some more aged tea, even if quality si not so high. I'm thinking that cakes should maturate in a very long time in Europa. I was in China last month and found some good teas about 8-15 years old, drier conditions that EoT ones (for me really better than its 1993 7542 for instance), at prices from 40$ to 120$. I prefer buy such teas, new ones should take 30 years in Europa to arrive at this (I have a bing bought many years ago which has not evolved a lot) ...
Re: EOT 2011 Cakes
The going price for good 1993 7542 is north of $450. Good 7542 from 00's are at least $75 and more like $120+. A nice, wet 1996 CNNP 8582 was something like $85 in Malaysia, last year.
I'd really would have to see more, man... What exactly are the substitutes you're talking about?
I'd really would have to see more, man... What exactly are the substitutes you're talking about?
Re: EOT 2011 Cakes
Also, where in Europe are we talking about? Most of Europe are pretty well suited for ageing puerh. You might just have had a bad puerh bing.
Re: EOT 2011 Cakes
Forgot to mention I ordered from EoT last week. I ended up getting one of the Nannuo and Bulang, along with a sample of the Mannuo. I would've liked to try the Guafengzhai, but it's really beyond what I'm willing to pay (plus no ability to sample).
I'm living on the west coast of Michigan for the summer, about 5 minutes from Lake Michigan. I actually moved ALL of my Puerh here for the summer just because the humidity is consistently 65-75%.
I'm living on the west coast of Michigan for the summer, about 5 minutes from Lake Michigan. I actually moved ALL of my Puerh here for the summer just because the humidity is consistently 65-75%.
Re: EOT 2011 Cakes
Now that's dedication...!!nickE wrote:I actually moved ALL of my Puerh here for the summer just because the humidity is consistently 65-75%.
Re: EOT 2011 Cakes
The GFZ costs what it should cost--it's essentially a no-brainer buy, and given how much you like yiwu, I'm surprised at your trepidation. I think it's singularly unlikely that it will be not worth the money. It was much harder to justify the purchase of the Nannuos, for me.
Re: EOT 2011 Cakes
Well, I only have about 12kg of Puerh, so it wasn't that heavy. Totally worth it!Drax wrote:Now that's dedication...!!nickE wrote:I actually moved ALL of my Puerh here for the summer just because the humidity is consistently 65-75%.
shah82 wrote:The GFZ costs what it should cost--it's essentially a no-brainer buy, and given how much you like yiwu, I'm surprised at your trepidation. I think it's singularly unlikely that it will be not worth the money. It was much harder to justify the purchase of the Nannuos, for me.
Haha! Admittedly, I love a good Yiwu, but at that price I really would've liked to sample before I bought any. I can understand why he didn't offer any, though.shah82 wrote:Never mind. it just sold out in the last hour or so.