Will stock market collapse equal lower prices at wine auctions?

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Tom H o l b r o o k
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Re: Will stock market collapse equal lower prices at wine auctions?

#101 Post by Tom H o l b r o o k » March 8th, 2020, 8:49 am

Is the number of Scarecrow allocations available at cost on commerce corner higher than usual? I'm relatively new here but am surprised to see so many listings like that. Each seller has their own reasons of course, but in aggregate maybe it points to a change in mood/habits for which market expectations are a component. And the reality of coronavirus volatility isn't soothing anyone's perception either...

I can't shake the feeling that maybe the number of Scarecrow posts is a canary in the coal mine indication before people without unlimited means stop buying tulip bulbs.

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Re: Will stock market collapse equal lower prices at wine auctions?

#102 Post by Rich Brown » March 8th, 2020, 7:08 pm

Tom H o l b r o o k wrote:
March 8th, 2020, 8:49 am
Is the number of Scarecrow allocations available at cost on commerce corner higher than usual? I'm relatively new here but am surprised to see so many listings like that. Each seller has their own reasons of course, but in aggregate maybe it points to a change in mood/habits for which market expectations are a component. And the reality of coronavirus volatility isn't soothing anyone's perception either...

I can't shake the feeling that maybe the number of Scarecrow posts is a canary in the coal mine indication before people without unlimited means stop buying tulip bulbs.

It could be....but I also think it has to do with the 2017 vintage probably more than anything

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Re: Will stock market collapse equal lower prices at wine auctions?

#103 Post by J@redC » March 9th, 2020, 1:22 pm

Yikes, today was tough to swallow.
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Re: Will stock market collapse equal lower prices at wine auctions?

#104 Post by J. Rock » March 9th, 2020, 2:12 pm

[/quote]

It could be....but I also think it has to do with the 2017 vintage probably more than anything
[/quote]

I don't know, I had a 2017 Materium yesterday and though it was outstanding.
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Re: Will stock market collapse equal lower prices at wine auctions?

#105 Post by Juliec » March 9th, 2020, 3:12 pm

Tom H o l b r o o k wrote:
March 8th, 2020, 8:49 am
Is the number of Scarecrow allocations available at cost on commerce corner higher than usual? I'm relatively new here but am surprised to see so many listings like that. Each seller has their own reasons of course, but in aggregate maybe it points to a change in mood/habits for which market expectations are a component. And the reality of coronavirus volatility isn't soothing anyone's perception either...

I can't shake the feeling that maybe the number of Scarecrow posts is a canary in the coal mine indication before people without unlimited means stop buying tulip bulbs.
Yep, I think you got it. It is a bit of a canary. Along with the so so vintage. The next few weeks and months will be telling. It is interesting that individuals want to continue to be on a list given their reservations. Meaning that they anticipate a future value. Thanks!
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Re: Will stock market collapse equal lower prices at wine auctions?

#106 Post by Chr!s G|@rn3r » March 9th, 2020, 4:32 pm

Tom H o l b r o o k wrote:
March 8th, 2020, 8:49 am
Is the number of Scarecrow allocations available at cost on commerce corner higher than usual? I'm relatively new here but am surprised to see so many listings like that. Each seller has their own reasons of course, but in aggregate maybe it points to a change in mood/habits for which market expectations are a component. And the reality of coronavirus volatility isn't soothing anyone's perception either...

I can't shake the feeling that maybe the number of Scarecrow posts is a canary in the coal mine indication before people without unlimited means stop buying tulip bulbs.
I think it is unusual but I’d assume it is more due to the vintage as a few others have stated. I think it got lower scores, and 2017 is sandwiched between great vintages of 2016 and 2018. A lot of people will say they don’t care about points but at $400/btl it is nice to have critics give 99-100pts to help justify the cost and ensure there is a secondary market.

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Re: Will stock market collapse equal lower prices at wine auctions?

#107 Post by J@redC » March 9th, 2020, 6:42 pm

Hopefully today was the bottom. Let’s see how it plays out. A nice V shape bounce would be nice. Then I’ll start looking to buy more SE. Ha.
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Re: Will stock market collapse equal lower prices at wine auctions?

#108 Post by Tom H o l b r o o k » March 9th, 2020, 8:03 pm

I had overlooked the 2017 vintage consideration. Not an unimportant consideration.

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Re: Will stock market collapse equal lower prices at wine auctions?

#109 Post by Ian Dorin » March 10th, 2020, 5:06 am

Tom H o l b r o o k wrote:
March 9th, 2020, 8:03 pm
I had overlooked the 2017 vintage consideration. Not an unimportant consideration.
You've also have had 5 vintages in a row that people were buying heavy. Despite that quality will be in the bottle, the "perception" of the vintage I think is a good excuse for a lot of folks to pass or sell off. The 2017 vintage will absolutely blow 2011 out of the water in the long run. Is that a bad vintage? No way.
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Re: Will stock market collapse equal lower prices at wine auctions?

#110 Post by John Morris » March 10th, 2020, 9:57 am

J@redC wrote:
March 9th, 2020, 6:42 pm
Hopefully today was the bottom. Let’s see how it plays out. A nice V shape bounce would be nice. Then I’ll start looking to buy more SE. Ha.
Hope your money isn't in energy stocks.
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Re: Will stock market collapse equal lower prices at wine auctions?

#111 Post by John Morris » March 10th, 2020, 9:58 am

To return to the original question, Zachy's sent out this e-mail yesterday.

Is Nero fiddling? We'll see.
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Re: Will stock market collapse equal lower prices at wine auctions?

#112 Post by Brady Daniels » March 10th, 2020, 10:16 am

I got my best wine deals during the financial crisis in 2009-2010. Inertia is a bitch.

Honestly, I hope there are no great wine deals coming. That would probably require serious economic stress.
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Re: Will stock market collapse equal lower prices at wine auctions?

#113 Post by blarmston » March 10th, 2020, 2:52 pm

Dead.Cat.Bounce.
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Re: Will stock market collapse equal lower prices at wine auctions?

#114 Post by David Baum » March 10th, 2020, 11:43 pm

I would venture to guess that a very high percentage of people on the scarecrow list sell at least a bottle or two in the secondary market to bring their average cost down. Having to buy three bottles at 400+ with a questionable secondary market due to lower scores is exactly the reason there are so many on commerce corner. Better some of those people drop off the list. Less flippers and more list member drinkers is a better for everyone but the flippers

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Re: Will stock market collapse equal lower prices at wine auctions?

#115 Post by JLee » March 11th, 2020, 11:49 am

Considering that any financially sensible person lost multiples of their annual wine budget in the market crash, lower wine prices, if they are actually lower, is a barely there silver lining in a very large and dark cloud.
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Re: Will stock market collapse equal lower prices at wine auctions?

#116 Post by Ian Dorin » March 11th, 2020, 12:10 pm

David Baum wrote:
March 10th, 2020, 11:43 pm
I would venture to guess that a very high percentage of people on the scarecrow list sell at least a bottle or two in the secondary market to bring their average cost down. Having to buy three bottles at 400+ with a questionable secondary market due to lower scores is exactly the reason there are so many on commerce corner. Better some of those people drop off the list. Less flippers and more list member drinkers is a better for everyone but the flippers
Since Winebid does not report to WMJ, I can't comment outside of WMJ. What people do privately can't be tracked either.


2016 Scarecrow has been auctioned 105 times since release. 5 times it was more than 3 bottles, 100 times it was 3 bottles or less. Production was 1500 twelve pack cases.

2016 Screamer, it's been sold 130 times, and only 11 times was it less than 3 bottles (never more than 3 either). Production is supposedly 750 cases.

I'm not sure I agree with your assumption.
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Re: Will stock market collapse equal lower prices at wine auctions?

#117 Post by Jeff_M. » March 11th, 2020, 12:16 pm

David Baum wrote:
March 10th, 2020, 11:43 pm
I would venture to guess that a very high percentage of people on the scarecrow list sell at least a bottle or two in the secondary market to bring their average cost down. Having to buy three bottles at 400+ with a questionable secondary market due to lower scores is exactly the reason there are so many on commerce corner. Better some of those people drop off the list. Less flippers and more list member drinkers is a better for everyone but the flippers
I think what you saw on Commerce Center with Scarecrow this year is people not wanting to lose their spot on the allocation list passing their allocation along at no cost so they weren't dropped off the list.

It still got a 97 point score this year. I bought mine and have no intentions of selling.
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Re: Will stock market collapse equal lower prices at wine auctions?

#118 Post by Chuck Miller » March 11th, 2020, 12:30 pm

If (as?) the general market and economy continue to worsen, eventually a large amount of wine in private cellars will be puked to auction. There is, however, a delay due to the time necessary to select wines to sell, get auction estimates, ship the wine, and then have the auction company inspect and list the wines for sale. The glut of wine for sale, combined with many potential buyers taking themselves out of the equation, will eventually result in lower prices. I would expect this to happen late spring, but just a guess.
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Re: Will stock market collapse equal lower prices at wine auctions?

#119 Post by Jim Hartten » March 11th, 2020, 12:55 pm

En Premier Bordeaux tastings of the 2019 Bordeaux are just a few weeks away as well - wonder if the event will take place and whether futures prices will down noticeably due to the prevailing conditions on the ground? Probably not much knowing the Bordelais pileon

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Re: Will stock market collapse equal lower prices at wine auctions?

#120 Post by grovertrask » March 11th, 2020, 2:36 pm

blarmston wrote:
February 28th, 2020, 8:11 pm
Please check back in one month from now and let us know how that worked out for you... And don’t fib 😉
Dont worry about 1 month....check back in 10-20 years and most likely you will be happy with your decision.

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Re: Will stock market collapse equal lower prices at wine auctions?

#121 Post by David Baum » March 11th, 2020, 3:16 pm

Ian Dorin wrote:
March 11th, 2020, 12:10 pm
David Baum wrote:
March 10th, 2020, 11:43 pm
I would venture to guess that a very high percentage of people on the scarecrow list sell at least a bottle or two in the secondary market to bring their average cost down. Having to buy three bottles at 400+ with a questionable secondary market due to lower scores is exactly the reason there are so many on commerce corner. Better some of those people drop off the list. Less flippers and more list member drinkers is a better for everyone but the flippers
Since Winebid does not report to WMJ, I can't comment outside of WMJ. What people do privately can't be tracked either.


2016 Scarecrow has been auctioned 105 times since release. 5 times it was more than 3 bottles, 100 times it was 3 bottles or less. Production was 1500 twelve pack cases.

2016 Screamer, it's been sold 130 times, and only 11 times was it less than 3 bottles (never more than 3 either). Production is supposedly 750 cases.

I'm not sure I agree with your assumption.
Winebid is but one site and much if not most is not sold through auction. I have several friends that sell to a repeat customer each vintage. I did not say a majority I said a very high percentage. If you want a number Id say at least 10% and probably 20% or more gets flipped which is a very high percentage. What other wine besides SE and perhaps SQN gets flipped that much?
Last edited by David Baum on March 11th, 2020, 3:22 pm, edited 1 time in total.

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Re: Will stock market collapse equal lower prices at wine auctions?

#122 Post by David Baum » March 11th, 2020, 3:21 pm

Jeff_M. wrote:
March 11th, 2020, 12:16 pm
David Baum wrote:
March 10th, 2020, 11:43 pm
I would venture to guess that a very high percentage of people on the scarecrow list sell at least a bottle or two in the secondary market to bring their average cost down. Having to buy three bottles at 400+ with a questionable secondary market due to lower scores is exactly the reason there are so many on commerce corner. Better some of those people drop off the list. Less flippers and more list member drinkers is a better for everyone but the flippers
I think what you saw on Commerce Center with Scarecrow this year is people not wanting to lose their spot on the allocation list passing their allocation along at no cost so they weren't dropped off the list.

It still got a 97 point score this year. I bought mine and have no intentions of selling.
I think thats part of it but I know a bunch of people that will sell 1/3 to 1/2 of what they are allocated usually around $600 or so per bottle. That brings the bottles they keep for their consumption closer to $200 to $250/bottle. With the off vintage/lower score not only are they faced with not averaging down but they also have to spend the full cost for more bottles than they are used to keeping hence the glut on CC

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Re: Will stock market collapse equal lower prices at wine auctions?

#123 Post by blarmston » March 11th, 2020, 4:12 pm

grovertrask wrote:
March 11th, 2020, 2:36 pm
blarmston wrote:
February 28th, 2020, 8:11 pm
Please check back in one month from now and let us know how that worked out for you... And don’t fib 😉
Dont worry about 1 month....check back in 10-20 years and most likely you will be happy with your decision.
Everything works great, until it doesn’t.

Again, hopefully I’m wrong. Good luck.
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Re: Will stock market collapse equal lower prices at wine auctions?

#124 Post by NickRut » March 11th, 2020, 4:34 pm

Feels like we’re in for a turbulent few months. Just wait until all the guidance adjustments come in. A lot of money to be made and lost.
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Re: Will stock market collapse equal lower prices at wine auctions?

#125 Post by blarmston » March 11th, 2020, 5:03 pm

Top of the first inning folks, and unlike the Astros- we don't know whats coming...
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Re: Will stock market collapse equal lower prices at wine auctions?

#126 Post by Ken Strauss » March 11th, 2020, 5:14 pm

Call it Hurricane Coronavirus.
Just like a Hurricane you can watch it come in and make predictions of the damage and where it will land.
This looks now like a category 5!
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Re: Will stock market collapse equal lower prices at wine auctions?

#127 Post by M Mager » March 11th, 2020, 5:45 pm

blarmston wrote:
March 11th, 2020, 4:12 pm
grovertrask wrote:
March 11th, 2020, 2:36 pm
blarmston wrote:
February 28th, 2020, 8:11 pm
Please check back in one month from now and let us know how that worked out for you... And don’t fib 😉
Dont worry about 1 month....check back in 10-20 years and most likely you will be happy with your decision.
Everything works great, until it doesn’t.

Again, hopefully I’m wrong. Good luck.
I'll be glad to check back in a month from now and let you know how my investment portfolio has moved over that month. I update my investment tracking on a weekly basis, so I'll know exactly where I'm at, as I always do. While acknowledging the utter folly of trying to predict equity market movements over time spans as short as a month, my gut tells me my portfolio will be down significantly. 10%, 20%, 30%, more? Who knows?

And, at the same time (at least for me), who cares? I'm an investor, not a speculator. If someone is worried about equity losses in a month, I'd argue that money had no business being anywhere near an equity investment in the first place.

Look, I get that it's possible we could have extended periods of time with low returns in some asset classes. Which, of course, is why any long-term investor should be focused an their asset allocation strategy, and on diversifying widely within each asset class. And, absolute worst case, should a majority of asset classes have low returns for extended durations, I would assert that there's no data to support that actively managed portfolios will do any better, anyways. And the way to deal with that is to be a bit conservative with rate of return assumptions for long-term planning, to invest ratably and consistently during asset accumulation phase, and to be ready to implement a flexible withdrawal strategy in retirement phase. In other words, control what you can, be conservative in your planning, etc. What else you gonna do?

Soon as someone shows me real, independent research data that supports alternative approaches having an appreciable likelihood of producing better outcomes, I'm all ears.

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Re: Will stock market collapse equal lower prices at wine auctions?

#128 Post by blarmston » March 11th, 2020, 6:59 pm

That’s a prudent approach Michael- I would argue that based on that post alone, that you get it.

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Re: Will stock market collapse equal lower prices at wine auctions?

#129 Post by Ian Dorin » March 12th, 2020, 4:21 am

M Mager wrote:
March 11th, 2020, 5:45 pm
I'll be glad to check back in a month from now and let you know how my investment portfolio has moved over that month. I update my investment tracking on a weekly basis, so I'll know exactly where I'm at, as I always do. While acknowledging the utter folly of trying to predict equity market movements over time spans as short as a month, my gut tells me my portfolio will be down significantly. 10%, 20%, 30%, more? Who knows?

And, at the same time (at least for me), who cares? I'm an investor, not a speculator. If someone is worried about equity losses in a month, I'd argue that money had no business being anywhere near an equity investment in the first place.

Look, I get that it's possible we could have extended periods of time with low returns in some asset classes. Which, of course, is why any long-term investor should be focused an their asset allocation strategy, and on diversifying widely within each asset class. And, absolute worst case, should a majority of asset classes have low returns for extended durations, I would assert that there's no data to support that actively managed portfolios will do any better, anyways. And the way to deal with that is to be a bit conservative with rate of return assumptions for long-term planning, to invest ratably and consistently during asset accumulation phase, and to be ready to implement a flexible withdrawal strategy in retirement phase. In other words, control what you can, be conservative in your planning, etc. What else you gonna do?

Soon as someone shows me real, independent research data that supports alternative approaches having an appreciable likelihood of producing better outcomes, I'm all ears.

Michael
Great post. Thankfully I'm 40, so I have plenty of time for the market to rebound. I was never concerned, but my wife insists that I keep "checking in". I said what for? It's like telling me to call the national weather service when I can clearly see it's raining. Best thing I've heard any one say so far "Is a bank going to go under from this like it did in 2009?".
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Re: Will stock market collapse equal lower prices at wine auctions?

#130 Post by Brian Gilp » March 12th, 2020, 4:32 am

Ian Dorin wrote:
March 12th, 2020, 4:21 am
Best thing I've heard any one say so far "Is a bank going to go under from this like it did in 2009?".
My eyes are on Deutsche Bank. I don’t know it it will go under or if Germany will bail it out but I figure the probability that it makes it through this without any assistance at less than 20%

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Re: Will stock market collapse equal lower prices at wine auctions?

#131 Post by blarmston » March 12th, 2020, 6:40 am

GSIB banks are crashing to near all time lows. A tick above the day immediately after Lehman was taken out on Park Ave and executed.

The reality is that most are not well capitalized, and their derivatives cross asset exposure is frankly- frightening. When risk assets crater and vol levels explode, things start breaking...

I have been trying to warn this thread since day one.
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Re: Will stock market collapse equal lower prices at wine auctions?

#132 Post by Neal.Mollen » March 12th, 2020, 7:51 am

We had an 11 year bull market. A reckoning was inevitable. It ended now, as opposed to a month from now, because of the coronavirus, but if you weren't anticipating (and planning for) a sharp correction, you simply weren't paying attention. One hopes that when things become clearer with respect to the virus and the political environment, the equity markets will recoup some substantial percentage of these losses, but I suspect it is going to take some time.

Michael has the right approach. Eyes on the long term. I really feel for those who were over-extended and can't play for the long term.

I retired at the end of January -- great timing, huh? But this does not materially alter my approach.
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Re: Will stock market collapse equal lower prices at wine auctions?

#133 Post by jnbrown » March 12th, 2020, 9:00 am

Dow is down another 8% to 21,500 this morning.
Good time to buy yet?
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Re: Will stock market collapse equal lower prices at wine auctions?

#134 Post by bruce curfman » March 12th, 2020, 2:57 pm

3/05 blarmston wrote "I hope I'm wrong, but this has the potential to be a black swan event that will hurt a lot of people. Be careful out there..."

So this is what a black swan looks like!! (?)

My modest holdings and retirement savings have been 95% in cash (and wine) for quite some time, but I sincerely feel awful for all of my friends (wealthier and smarter than I am) that have exposure to these collapsing markets. But they will survive this, and as bad as I feel for them, I especially feel for all the victims of this virus world-wide. Let's keep it in perspective.

Really the only humor I see in any of this is looking back on Mr. Trump's tweet on February 24, after DAY ONE of the selloff, urging investors to buy stocks "the market looks very good!"

nuff said

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Re: Will stock market collapse equal lower prices at wine auctions?

#135 Post by tpetty » March 12th, 2020, 3:19 pm

I put some buy orders in today - so that if a few of the stocks I am targeting drop another 5-10%, I'll be happy to pay that. Can't ever predict the true bottom....

Also sold some puts on Amazon. I don't believe it's realistic that Amazon is going to drop another $500 in the next month. "Free money" :)
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Re: Will stock market collapse equal lower prices at wine auctions?

#136 Post by dougwilder » March 12th, 2020, 4:26 pm

Actually another scenario should be considered. Over the next 18 months, the entire planet is in an economic depression and millions dead from COVID-19. Several factors may affect the auction market. Here is one. With millions dead, their cellars need to be liquidated saturating the auction market with thousands of cases of highly-sought properly-aged wines. For those who haven't lost everything it will become a buyers' market simply because demand will be lower. You could pick up some amazing bargains and sit in your basement toasting all of your dead friends. Reminds me of that Twilight Zone Episode "Time Enough at Last"
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Re: Will stock market collapse equal lower prices at wine auctions?

#137 Post by Juliec » March 12th, 2020, 5:23 pm

Before this gets more negative. a silver lining, for those that have been wanting to buy a coravin system; never been a better time. Major discount that I’ve never seen before, but maybe others have.

(For those that have gone through the last crash; what was the impact to the wine market. I’m not selling... just curious about how long did it take for wine values to get back to normal... for the wine that is cellared.)
Last edited by Juliec on March 12th, 2020, 5:29 pm, edited 1 time in total.
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Re: Will stock market collapse equal lower prices at wine auctions?

#138 Post by maureen nelson » March 12th, 2020, 5:25 pm

Geez, y’all are depressing the hell out of me!

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Re: Will stock market collapse equal lower prices at wine auctions?

#139 Post by David_K » March 12th, 2020, 5:26 pm

dougwilder wrote:
March 12th, 2020, 4:26 pm
Actually another scenario should be considered. Over the next 18 months, the entire planet is in an economic depression and millions dead from COVID-19. Several factors may affect the auction market. Here is one. With millions dead, their cellars need to be liquidated saturating the auction market with thousands of cases of highly-sought properly-aged wines. For those who haven't lost everything it will become a buyers' market simply because demand will be lower. You could pick up some amazing bargains and sit in your basement toasting all of your dead friends. Reminds me of that Twilight Zone Episode "Time Enough at Last"
Now that is dark...
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Re: Will stock market collapse equal lower prices at wine auctions?

#140 Post by Tom H o l b r o o k » March 12th, 2020, 6:05 pm

Juliec wrote:
March 12th, 2020, 5:23 pm
Before this gets more negative. a silver lining, for those that have been wanting to buy a coravin system; never been a better time. Major discount that I’ve never seen before, but maybe others have.

(For those that have gone through the last crash; what was the impact to the wine market. I’m not selling... just curious about how long did it take for wine values to get back to normal... for the wine that is cellared.)
Not a seller, and definitely not at auction (not yet anyway), but on the drinking side. I remember a lot of really good deals on CA cabs at Costco in 2010-11, most of which with pretty sad stories behind them. I probably bought 5 cases of 2008 and 2009 Match at ~$30. What a deal. And now knowing that they didn't make it, I just feel ooky about having been so jazzed about loading up my shopping cart. But I guess someone else would have bought it.

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Re: Will stock market collapse equal lower prices at wine auctions?

#141 Post by Chris Johnson » March 12th, 2020, 6:10 pm

Juliec wrote:
March 12th, 2020, 5:23 pm
Before this gets more negative. a silver lining, for those that have been wanting to buy a coravin system; never been a better time. Major discount that I’ve never seen before, but maybe others have.

(For those that have gone through the last crash; what was the impact to the wine market. I’m not selling... just curious about how long did it take for wine values to get back to normal... for the wine that is cellared.)
The discount codes and big sales started slowing down around the beginning of 2012. I bought a case of ABC Bien Nacido for 15/ea and wish I would had bought far more in Feb of 2012. I did sell some in 2012 and 2013 at auction. I had much better sale numbers in 2013 for the same type of bottles.

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Re: Will stock market collapse equal lower prices at wine auctions?

#142 Post by blarmston » March 19th, 2020, 1:08 pm

I'm starting to see a couple nice deals on K&L. They're gonna get even better over the next couple months, imo.
-Brian Armston

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Re: Will stock market collapse equal lower prices at wine auctions?

#143 Post by James Lyon » March 19th, 2020, 1:47 pm

Not wine, but whiskey is very much in demand based on today's HDH spirits auction results. Crazy prices.

James

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Re: Will stock market collapse equal lower prices at wine auctions?

#144 Post by Sarah Kirschbaum » March 19th, 2020, 2:05 pm

James Lyon wrote:
March 19th, 2020, 1:47 pm
Not wine, but whiskey is very much in demand based on today's HDH spirits auction results. Crazy prices.

James
Except the Johnnie Walker, which almost all passed.

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Re: Will stock market collapse equal lower prices at wine auctions?

#145 Post by Patrick Stella » March 19th, 2020, 2:17 pm

Just as a data point, for whatever it's worth, I got up early to watch the Sotheby's London sale yesterday to see how the market was holding up.

I watched probably 75% of the sale (it was pretty long). Anecdotally, I'd say prices were firm to high. A few passes here and there, but the only thing that was really high quality that I noticed passing was a nice parcel of 3 cases of 96 Margaux.

Some high value lots did quite well. 2 cases of 47 Cheval from an allegedly famous collection (I didn't happen to know the collector, but he was named) sold for I believe about $25,000 / bottle all in.

A case of 82 Lafleur sold for something like $6,000 per bottle all in iirc.

Otherwise, lots of more normal things went at pretty normal prices. I picked up a case of 89 HB for GBP 13,000 hammer bc it's a wine I have always wanted to buy and it always feels too expensive. I hoped I might get a slight discount here. But obviously not exactly pennies on the dollar.

It was tough going as a buyer, but comforting as a lender.
ITB -- WineCredit LLC

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Re: Will stock market collapse equal lower prices at wine auctions?

#146 Post by A.Gillette » March 19th, 2020, 2:58 pm

The shuttering of restaurants for an extended period of time should be enough to crater wine prices. Someone here must know what percentage of wine sales are made to restaurants. It has to be significant.
A
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Re: Will stock market collapse equal lower prices at wine auctions?

#147 Post by Howard Cooper » March 19th, 2020, 3:24 pm

maureen nelson wrote:
March 12th, 2020, 5:25 pm
Geez, y’all are depressing the hell out of me!
If you are not depressed, you are insane.
Howard

"That's what I do. I drink and I know things." Tyrion Lannister

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Re: Will stock market collapse equal lower prices at wine auctions?

#148 Post by tpetty » March 19th, 2020, 5:22 pm

I just approved cutting the income off all doctors and administrators at my group by 50%. We have 1000 employees - and are going to furlough or layoff half. With elective surgery shut down, and office based physicians seeing only more urgent issues, our cash flow is about to crash. Hopefully this won't be for too long or our large medical group will go bankrupt. I don't think you will see any of my colleagues buying wine for awhile.
T o d d *** P e t t y

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Re: Will stock market collapse equal lower prices at wine auctions?

#149 Post by maureen nelson » March 19th, 2020, 5:34 pm

Howard Cooper wrote:
March 19th, 2020, 3:24 pm
maureen nelson wrote:
March 12th, 2020, 5:25 pm
Geez, y’all are depressing the hell out of me!
If you are not depressed, you are insane.
Thank you, Dr. Laing

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Re: Will stock market collapse equal lower prices at wine auctions?

#150 Post by alan weinberg » March 19th, 2020, 7:12 pm

tpetty wrote:
March 19th, 2020, 5:22 pm
I just approved cutting the income off all doctors and administrators at my group by 50%. We have 1000 employees - and are going to furlough or layoff half. With elective surgery shut down, and office based physicians seeing only more urgent issues, our cash flow is about to crash. Hopefully this won't be for too long or our large medical group will go bankrupt. I don't think you will see any of my colleagues buying wine for awhile.
my medical income just went to zero. Need to cover overhead and staff salary. No buying.

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