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Auction Evolution
Just less than three years after economic turmoil caused the world wine auction market to stumble, sales have surged dramatically. Due in part to the Internet, which has helped to democratize consumer participation, and also to a booming economy in wine-hungry Asia, worldwide sales hit $408 million in 2010, compared with the previous year's $233 million. Prices for blue-chip wines are way up; the Wine Spectator Auction Index increased by 15 percent over one year, surpassing its 2007 record high.
For the full article, check out the new issue of Wine Spectator, on newsstands May 24, 2011.
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