Left coast wine bidness - Printable Version
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- hotwine - 03-08-2010 12:35 PM
Interesting article in bloomberg.com this morning about the wine business in Napa: â€¢Vineyard Defaults Surge as Lost California Land Values Undermine Napa Wine".
Must confess to a touch of Schadenfreud at that. The writer says that consumers are trading down, going for lower-priced juice from other areas, leaving highly-leveraged Napa growers in the lurch; nothing is said about the impact on the European trade, but it may well be that some of them are also mortgaged to the hilt.
I don't buy high-end Napa juice, so I don't really care. But I'm seeing a leveling-off in the recent trend of price escalation for European wines, and I'm grateful for that.
- TheEngineer - 03-10-2010 04:19 AM
I agree with you on the european price on the east coast of late. I get daily offers on emails that look extremely inviting. Unfortunately I live now in London where things have also lightened up (50 GBP for a bottle of my fav white, B du Martry Corton Charmagne)
- wondersofwine - 03-10-2010 10:16 AM
So the move to London is long term? I thought you were just there temporarily.
- TheEngineer - 03-11-2010 02:03 PM
No, its still short term,..... [img]http://www.wines.com/ubb/smile.gif[/img]
I'm hoping that it will relax a bit soon and I'll be able to get home.