Home > Magazine Archives > Jan. 31 - Feb. 28, 2009 Issue > Collecting
Steep Correction in Wine Auctions Spells Buyer's Market
The bears have arrived at wine auctions. The boom that began in 2004, which according to the Wine Spectator Auction Index saw sale prices of collectible wine more than double, came to an abrupt halt this past October, a month in which the S&P 500 experienced its worst weekly drop in 75 years and in which trillions of dollars were erased from the value of global equities.
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