Wine sales at the biggest wine auction houses are still booming, even though the starting price of almost all wines has dropped by about 30% at the beginning of 2009. However, this is an important aspect for new buyers and investors to continue enjoying wine or yet to buy one or the other blue chip as a value investment. Considering that the prices of cult wines skyrocketed up to 200% from 2005 to 2008, the current price drop is more of a market correction than cause for panic. Because as almost all auction houses confirm to me, the number of lots sold is increasing and the prices of the sought-after bottles are rising again.
Some facts about wine auctions from the past year: