Cognac to blow your head, and wallet, away

By Pauline Askin

SYDNEY (Reuters Life!) - It could well end up being the most expensive hangover of your life.

A Sydney hotel is offering patrons a rare cognac for A$480 a glass ($403) -- the cost of one-week's rent for a two-bedroom flat in the city -- to cash in on what it believes is the growing desire for a "Ferrari lifestyle" among Sydneysiders.

"It's a taste that promises to seduce not only your nose and tongue but your entire body," said Laurent Branover, the Sofitel Wentworth's food and beverage manager, of the Hennessy Ellipse bottle that sells for A$10,000.

"If you aren't rich enough to own a Ferrari you can at least taste the Ferrari lifestyle with a glass of Hennessy Ellipse, for as long as your glass or your wallet allows."

The hotel says its bottle, which is bought three weeks ago, is the only one in Australasia and one of 2,000 in the world.

So far, they have sold four glasses -- to well-heeled male guests or wealthy Sydneysiders -- and bookings for four more glasses have been made.

No one, however, has come back for seconds yet. One glass of Ellipse contains 43.5 per cent alcohol.

"When you try this cognac it's very strong, you have the flavor for 24 hours. When something is unique, you have to pay for it," Branover told Reuters.

"Of course it's expensive, but when you live in Sydney, what is A$500 for some guests? You have a lot of banks in the area and if you sign a contract for 25 million, you can afford this."

Ellipse is created by blending the most exceptional "eaux de vie" created by seven generations of master blenders. Its bouquet has hints of candied fruits, wild roses and an earthy aroma.

Presented in an elliptical Baccarat crystal decanter, the Sofitel's bottle is numbered 12 in the world.

Although Australians contribute a tiny percentage to the world's $1.05 trillion luxury goods market, a recent article in the Sydney Morning Herald said their lust for the new and expensive items is on the rise.

A mining boom has helped feather the nest of new Australian investors, helping to spur a national art frenzy where several paintings have set record prices.

In Australia, women are among the top consumers of luxury goods, with designer handbags and spa treatments take away a chunk of their income.

Fendi's "Spy", "B" and "Crossword" bags continue to be one of the hottest items in Australia, with both styles selling out within three days of being restocked.

($1=A$1.19)