Everyone is looking for signs that the economy is turning around.
This came to mind when I read about the results of a recent auction of fine and rare wines, conducted by Spectrum Wine Auctions at the Peninsula Hotel in Beverly Hills, Calif.
Lot No. 387 – 12 bottles of 1989 Chateau Petrus – brought $35,850.
Lot No. 719 – one magnum of 1978 Henri Jayer Richebourg – brought $19,120.
Lot Nos. 202-204 – 12 bottles of 1982 Chateau Lafite Rothschild – brought $49,293, $50,190 and $53,775.
Lots Nos. 164-222 – collections of Chateau Lafite Rothschild – brought a combined total of $619,368.50.
So, what does this prove? Is it a sign that the economy is rebounding, or is it an example of the rich getting richer?
I’d like to think that it’s the former, but I tend to believe it’s the latter. Even in challenging economic times, there remain people with the means to pay premium prices for what are perceived to be premium wines.
Meanwhile, those of us who love wine for its aromas and flavors, as opposed to its cachet, are benefiting from the availability of a wide array of bottlings at affordable prices.
Of course, that has always been the niche of the wine clubs of Vinesse – delivering a high-quality wine-drinking experience without breaking the bank. Simply put: Good wine, good value.
That has been true from the company’s founding, and has remained true through good economic times and not-so-good.