I suppose in the vast and confusing lexicon of the English language, the word ‘uncorrection’ is, well, incorrect. In fact it doesn’t exist as far as I know but it should, because we’re going to need it in the future I hope. Remember I told you my glass is always half-full?

But this is really a doubled-edged sword. I want things to get better economically as much as anyone, even though considering the spending spree our nation has been on, I know I’m deluding myself. But I also do not want to see wine prices return to their 2007 levels. Right now it is a buyers’ market on nearly everything and the same is true for wine in general. In 2007 the cost of a bottle of Lafite Rothschild was over $1000 and today it can be found for under $700 - a 30% discount just for waiting until now to buy! And because this is considered a 100 point First Growth Bordeaux, it didn’t take a huge hit like many other wines have taken in recent months. There are bargains galore out there if you look for them.

In a previous post, “CORRECTION: Wine Market” I commented about wine auctions in December of last year and how dismal it was for sellers. It now seems that the same wines that were such an amazing bargain then are rising to various degrees with every subsequent auction this year. The last Hart, Davis, Hart auction on June 6 sold though 100% with a presale estimate of $1,204,010 to $1,805,060 but actually realized $1,894,350 in sales. I understand that the result from one auction does not a trend make but all I’m saying is look out! As always, time will tell, and I acknowledge that there still may be a huge rollercoaster ride ahead of us in every respect. But if you have the resources now is the time to buy all the classics you’ve wanted for your cellar before it becomes just stupid-crazy again.

My advice: get to these auctions (the legitimate ones) and buy while you can because the buyers’ market status could change at any moment. Let me know if you have questions okay? Great. Happy bidding!

David Boyer