Market for Topflight Wines Not in Decline
9/9/08 at 6:38 PM
Romanee-Conti 1945 — worth missing one or two down payments.Photo: Denis Balibouse/Reuters
Sotheby's first wine auction of the season on September 20 could rake in more than $3 million. The lots include Chateau d'Yquem, '83 Domaine de la Romanee-Conti, and magnums of Chateau Lafite. Despite the economic downturn, top vintage Bordeaux and Burgundies are still popular sellers — auction houses in London, New York, and Chicago expect to pool about $20 million this month alone. "The people who are investing in wine on this scale, these are not the people defaulting on their houses," a Christie's New York auctioneer told Reuters.
[Reuters]
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