Auction Index Dips Slightly in Volatile Market
Consumer demand is tested as the number of bottles offered explodes
After hitting a record high of 190 in the third quarter of 2002, the Wine Spectator Auction Index fell 5 points in the fourth quarter to 185. The modest 2.6 percent decline belies the marked volatility and heightened trading activity that saw nearly 20,000 bottles of fine and rare wine go on the block -- almost double the volume of the previous quarter and an 11 percent increase over the same period in 2001.
For the full article, check out the new issue of Wine Spectator, on newsstands March 31, 2003.