« Sourcing pieces of the pig | Main | It's not cheaper by the dozen, or for 14 either »
29 January 2009
Gee whiz. Wine prices are in free-fall too
Bloomberg.com says that premium wine prices have come down, substantially. For example, at famed New York wine seller Sherry-Lehmann (not to be confused with Lehman Brothers), a 2005 Cheval Blanc which once sold for $1,600 a bottle is now a cut-rate $995.
Now the story gets sad:
“No one’s buying the what-the-hell wines,” moans John Ragan, beverage manager of New York City’s Eleven Madison Park.“ Guys from Credit Suisse, whose offices are in the building, used to order a couple of bottles of wine at lunch. Then they’d say, ‘Oh what the hell,’ and order a $500 or $1,000 bottle.”
Which leads one to wonder, with Châteaux Lafite and Latour prices slashed, whether soon we'll be shopping at Trader Joe's for One-Buck Chuck?
Posted by EDN on January 29, 2009 at 01:38 PM in Food & Drink | Permalink
Comments
Au contraire, mon amie. The LA Times ran an article last week reporting that the Guv was considering raising the wine tax from .04 to .29 per bottle. TJ says that eats up the profit margin and more.
Oh well, three buck chuck rhymes just as well...
Posted by: Pat | Jan 31, 2009 1:09:09 PM
The comments to this entry are closed.
