Market for Topflight Wines Not in Decline
Sotheby's first wine auction of the season on September 20 could rake in more than $3 million. The lots include Chateau d'Yquem, '83 Domaine de la Romanee-Conti, and magnums of Chateau Lafite. Despite the economic downturn, top vintage Bordeaux and Burgundies are still popular sellers auction houses in London, New York, and Chicago expect to pool about $20 million this month alone. "The people who are investing in wine on this scale, these are not the people defaulting on their houses," a Christie's New York auctioneer told Reuters.