Mike Tommasi wrote:
>> It will be interesting to see if there are some sales of ultra high
>> priced goods after the holidays, since many of the very rich around
>> the world have lost millions on paper, at least for now, and may
>> likely be in no mood to buy such expensive products.
>
> Well, all speculative instruments, wines included, would be hit. So the
> net result should be neutral, the devalued assets of the formerly rich
> should be enough to cover these now devalued wines.
I've actually been looking at this in the context of recent auction
results. What I've observed has been a definite softening of the market
for non-cult status wines, but continued strength of prices for the
trophy wines (First Growths, DRC, Guigal LaLas, Gaja, etc.). For the
near term, this probably means that the price increases for trophy wines
will decrease, but I have yet to see anything like actual price
decreases in the secondary market for wine.
Mark Lipton
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