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The Economy and the Wine Factor

As a wine consumer, how is the economy affecting your choice of wines? Recent news reports indicate that wine for less than $10 a bottle is continuing to sell at current or higher levels. However, consumers who were purchasing wines that are more than $50 a bottle had cut their purchases by about 30 percent. Those who purchase on the extreme end of the spectrum, perhaps $10,000 a bottle are continuing to purchase these ultimate wines.

I can well imagine that those suffering from the poor economy are not purchasing wine as frequently as they once were. Perhaps those who are cutting back from the pricier wines are aware of the economy and being cautious. To quote a good friend of ours, “Instead of buying a $300 bottle of wine, I’ve cut back to a $250 bottle.”

While anyone purchasing a $10,000 bottle of wine is most likely a collector and considers the wine an investment. I find it difficult to understand why someone would collect wine. However a wine collector explained it to me in this way. “It’s not about the wine as much as it is in the game – trying to get that bottle of wine for your wine cellar.” In any event, if that $10,000 bottle of wine is properly cared for it may sell for much more in years to come.

What it comes down to though is do you have to pay a significant amount of money to have a great wine? Personally, I have tasted some wonderful wines for less than $12 a bottle. Wine quality varies and price is not a guarantee of quality or that you will enjoy the wine.

I’d like to hear from you about how the economy is affecting your wine purchases.


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