In a medium saucepan, combine 2 tablespoons finely minced shallots, 1/2 cup pinot noir, or other dry red wine and 1 teaspoon black peppercorns and bring to a boil. Reduce the heat to medium-low and simmer until reduced in volume by half, about 2 minutes. Whisk in 2 sticks cold unsalted butter, cut into pieces, 1 tablespoon at a time, adding each piece before the previous one has been completely incorporated. Continue until all the butter is incorporated and the sauce coats the back of a spoon, removing the pan from the heat periodically to prevent the sauce from getting too hot and breaking. Season with salt if you think needed.
Strain into a clean container and use immediately.
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