Auction Index Slides for the Second Straight Quarter
First-growths and Italian wines take a hit, while California makes a small gain
The Wine Spectator Auction Index fell nearly 4 percent, from 186 to 179, in the first quarter of 2003 -- about the same drop that the Dow Jones experienced during the period. Given the volatility in world financial markets, it's encouraging that demand for fine wine remained relatively steady.
For the full article, check out the new issue of Wine Spectator, on newsstands June 30, 2003.