Wine prices go into the red

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Mon Nov 17, 2008 12:30 pm

BBC has an interesting article that highlights the value drops of fine wine.
t is enough to make the super rich cough into their carefully cellared claret - prices of some of the world's most revered wines are falling sharply.

The latest indication that the global economic slowdown is hitting the spending power of even the most wealthy, certain fine wine prices have declined by a quarter since the summer.

Yet before some of us think of sniffing out a potential bargain, the cost can remain hefty. And by hefty, think the price of a brand new small car.

Picking out one wine that is indicative of the wider picture at the top of the market, UK fine wine merchant Berry Brothers and Rudd (BBR) told the BBC that the price of the 2005 vintage of Bordeaux's famous Chateau Lafite Rothschild has dropped 25% since the summer.

Read more at Source: BBC NEWS.

The article refers of course to the ultra-expensive wines such as Chateau Lafite, but it remains to be seen if and when this downwards-trend for prices gains momentum and moves to less exclusive items as well. Already I have personally made an observation that in some whisky auctions the final bid prices have been significantly lower than say 6 months ago.

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