Crazy stuff - here
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Hello Friend!quote:Originally posted by DoktaP:
I'm just glad I bought what I did, when I did it. I hate to think what the bottles of 1897 and 1912 would have sold for if they were offered from the chateau. I could have retired! I'm very happy I have some stashed away for future consumption with friends.
quote:Originally posted by jburman82:
Jorge, my point is the prices are at the point where the "next 1,000 extremely wealthy people standing a line right behind them who were just outbid" are no longer there. The prices are going up to the point where there are no buyers, like housing. The fact that houses were purchased with leveraged funds was irrelevant until they ran out of buyers to flip to. At some point the same thing will happen here. The cellars will fill up and there wont be any more buyers at that price point.
There is no rationalization in auction prices any longer. If that spreads to retail a collapse will soon follow.
Here is an example from last weekend in Chicago. I went to the HDH live auction. I had my eye on a couple of lots. I did my researcher before hand and had extensive notes on avg auction prices, what they were going for at retail, ect. A 2 bottle lot of 1985 Krug went for $950, not including the 20% buyers premium. There are bottles on wine searcher for well under $350. I was sitting at the table next to the guy who won and every time he raised his paddle I had to resist the urge to reach over and slap it out of his hand.
I buy some really expensive wine. Im not bragging, but I do. I buy more expensive wine than anyone I know except some of people on this board. I am now priced out of Lafite and the rest of the first growths arent far behind. Eventually the Asian market will find the next cool thing and prices will plummet.
quote:Originally posted by WineJones1:
I am a regular reader of the forums, even though I don't participate often.
I am always interested in 1st growth for my collection. If any of you are interested in selling you can reach me at WineJones at Gmail.com
send me your list and price. I don't believe in the auction values, but I have no problem paying fair market for well stored bottles. I figure that most of you walk the walk as much as talk the talk.
I look forward to hearing from you.
quote:Originally posted by Red guy in a blue state:
Are you selling?