Luxury blinks
The wine industry (as we are told) is in crisis. At a recent conference (Vino2010 in New York) a group of panelists discussed the future of luxury wine (see the excellent read at http://www.vinography.com/archives/2010/02/the_future_of_luxury_wine.html). I, for one, am happy. Prices are falling. Not neccessarily for the uber wines, but very decidedly for anything else. I can walk into wine shops and pick up decent wines that in 2006 were asking for very unreasonable prices.
It is a buyers market, and picking the wrong wine is no longer a very costly mistake. It literally take me back to the 90′s, right before (and perhaps as) the asian and US markets conspired to jack up the prices of wines. Now that both the Asians and Americans lost their funding sources, they stopped paying exorbitantly for wine.
This is so good. The bubble has funded extensive knowhow in wines. How to extract as blockbuster a wine as possible from newly planted berries: and make a killing in the process. So there are many great wines out there. And they have no buyers, so some great ones sell for 30c on the dollar. Their future prospect is questionable: They may fold, they may redo their business model, who knows. But for now, run out and get them!
Now I do have to watch the calories, though…