Fourth-Quarter 2001 Auction Index Rises 11 Percent
Classics pace end-of-year gain, leaving Wall Street in the dust
Spurred by the strong performance of vintage classics, the Wine Spectator auction index rose 11 percent to 187 in the fourth quarter of 2001. Overall, in a volatile year that saw the Dow Jones fall 7 percent and the Nasdaq drop 21 percent, the auction index gained a total of 16 percent—somewhat to the surprise of some collectors who theorized that high-end discretionary purchases would falter in uncertain financial markets.
For the full article, check out the new issue of Wine Spectator, on newsstands April 30, 2002.