wine prices

Cost of Fine Wine Drops with Market

Filed under: Wine

As some stocks become a bargain in this depressed economy so are some of the finer wines of this world. The Liv-Ex 100 Fine Wine Index, which represents the price movement of 100 of the most sought-after fine wines, dropped 12.4 % in October, its greatest decrease yet, which puts wine prices at an 18-month low. Some of the most notably impacted are Lafite Rothschild 2004 which is down 27.9% and Chateau Montrose 2003 which fell 23.1%. The wider range of the world's wines are not faring as badly as the Liv-Ex 500 reports only a drop 1.8% in October. On the plus side, this makes it a buyer's market and a good time for collectors and oenophiles alike to purchase the best at a lower price.

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Tags: liv-ex 100, liv-ex 500, liv-ex index, Liv-ex100, Liv-ex500, Liv-exIndex, wine prices, WinePrices

European Wines May Be Headed for a Price Increase

by Deidre Woollard (RSS feed) —

Filed under: Wine

Uh oh, if you are a fan of European wines, Eric Asimov, the chief wine critic over at the NY Times, says you better get ready to pay more. His recent article points out that while so far, price increases have been modest, that trend is not set to last given the rising price of oil and the deflating value of a dollar. Importers of European wines have been trying to keep the prices steady in order not to scare away fickle consumers but that may change in 2008.

What is bad news for Europe, Australia, South Africa and South America might just be good news for U.S. wineries. The article quotes Gary Vaynerchuk of Wine Library as saying this will be a big opportunity for California. I think that it's even a bigger opportunity for wineries in up and coming U.S. regions such as Oregon, Washington and New York. It may also inspire customers to find more obscure and less pricey European wines from places such as Hungary, Portugal and Slovenia which are still good values. The advice in the article might be distilled down to this: drink the stuff you know for now but be prepared to venture into new territory to find better values in 2008.

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Tags: euroopean wine, french wine, wine, wine prices