Wine Auction Prices Continue To Slide
I’ve been meaning to do a comment recap on my wine investing post from a few months ago. The comments on that post (all three of them!) were good and merited further discussion and rabble rousing.
In the meantime, Eric Asimov has a recent piece in the New York Times on the benefits of a sliding wine auction market: good wine for less!
“It’s kind of a buyer’s dream right now,” said Daniel Johnnes, wine director for Daniel Boulud’s restaurant group, who trawls auctions for older vintages to add to his lists. “Now, the opportunity is for extraordinary value.”
I wouldn’t quite call it a buyer’s dream, but it’s a start. Prices are down but not anywhere near 2006 levels yet. I recently cleaned out a bunch of emails and found an old offering from Vinfolio. The offer featured several 750ml bottles of 2000 Lafite Rothschild priced at $480. The wine is back in stock at Vinfolio, sale price is $1195.
Link to NYT article
