me='viewport'/> the Blog Wine Cellar - Investing in Wine: Wine vs. Economy

Tuesday, October 14, 2008

Wine vs. Economy

With the world economy in utter disarray at the moment how does this effect us wine drinkers? Well, I know I won't be rushing out to purchase the latest allocation of my over priced California reds nor will I be on the bandwagon for the sky rocketed Bordeaux futures. Collectors throughout the world might follow suit and wait till things smooth out or at least wait for the current political situation to calm down. Now is deal time folks! If there are bargains in the stock market and shares of GM are being traded at the price of a gallon of gas then there has to be some really good wine deals as well. Shop owners will want to unload a bit of inventory and lighten their load. Weird farmers market stores that just so happen to have a overstocked and overpriced wine selection might just do a few inventory reduction sales. I remember at a local chain here in Phoenix my friend purchased a few bottles of Pine Ridge Dijon clones Chardonnay for pennies on the dollar. They were an older vintage but they drank like magic!

Moral of the story: Stocks are ravaged, gas is not getting too much cheaper, your house still isn't worth what you purchased it for, but wine is for sale around your town and finding those gems could be key in building a cellar.

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