Wine sales as an economic indicator

[Monk]

According to this article, the overall volume of wine sales on the Liv-Ex fine wine auction exchange is up. But the prices are down. The director of Liv-Ex attributes this to high-end wine owners emptying their cellars. And the volume is pushing prices down, since no one is able or willing to bid them up right now.

http://economix.blogs.nytimes.com/2009/01/02/booze-indicators/?hp

Any parallels to the rest of the economy? I'd be happy to discuss it with you over a bottle of underpriced vintage Barolo.

 

[Slinky Bender]

Certainly seems like classic microeconomics in action. No real surprises in any direction. People needing $ selling assets, increased supply even with slightly incrased demand leads to lower prices, especially since it appears the drioving force behind the increased consumption is the drop in prices.

 

[Scott68]

On a slightly different note...........

Watching the Barret-Jackson auto auctions and have noticed a significant drop in the sale prices of collectible autos. I don't own any, wish I did, but it's been an interest of mine for years.

 

[Traderdave]

In these times CA$H is KING!. You might have a shot at that colectible car now.

 

[Scott68]

Maybe.

I won't "collect it", I'd drive the shit out of it!