Thursday, April 02, 2009

Bordeaux Blowup?

Interesting article in the NYT in case you missed it a couple of days ago regarding the market for Bordeaux futures and the global economic meltdown. You mean all those wealthy wine drinkers won't pay whatever you ask and actually are trading down? Well, at least they won't and are until the market goes back up, then it will be "let the good times roll" once again in Bordeaux (you read how SUV sales went up when gas went from $4 a gallon to $2. Same thing will happen with wine when the economy turns positive). Here's a quick quote from the article, which shows the classic Gallic inability to accept that they are part of our world:
Angélique de Lencquesaing, one of the founders of iDealwine, an online auction site in Paris, said it was hard for producers to accept lower prices. “In England and other countries people have a view of wine as a financial product that can go up or down in value,” she said. “In France, wine is sacred.”
Bien sur, Angélique! The article makes a lot of good points, and from someone who sells wine retail for a living, I can only tell you that the high end market is dead for wines from all around the world. Of course, I've never catered to those who need their egos stroked every time they pop a cork, so the VINO Wine Index is just fine, thank you. Cin cin!

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