World Wine Auction Market May Shrink 20% in 2012, Decanter Says
The global fine-wine auction market may shrink by at least 20 percent this year, reflecting a drop in prices for top-quality Bordeaux reds, Decanter.com said.
Leading auction houses are saying the market may decline by as much as $100 million to $400 million, Decanter magazine’s website said. Chateau Lafite-Rothschild 2009, one of the benchmarks for top Bordeaux, is trading just above 7,500 pounds ($12,100) a case, according to Liv-ex’s register of market prices, down from more than 14,000 pounds at the start of 2011, Decanter.com said.
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