Wine sales at the largest wine auction houses are still booming, even though the starting price of almost all wines fell by about 30% at the beginning of 2009. However, this is an important aspect for new buyers and investors to be able to continue enjoying wine or to buy one or the other blue chip as a value investment after all. Considering that the prices of cult wines soared by up to 200% from 2005 to 2008, the current price drop is more of a market correction than a cause for panic. For, as almost all auction houses confirm to me, the number of lots sold is increasing and the prices of the coveted bottles are rising again.
Some facts about wine auctions from the past year:
eBay: Gourmet / Wines, or Champagne category.
Koppe & Partner Wine Auctions
Munich Wine Company wine auctions
Steinfels Wine Auctions (Zurich)
My tip: see wine as a drink and an investment in equal measure - and buy now. You probably won't get the top wines of past vintages as cheaply as in 2009. There are enough examples from the past. Unlike many products and brands, the best wines in the world have always been produced in roughly equal quantities. Paintings by the most famous painters will always have their price. So will most cult wines.