I’d say keeping out, but that would be a lie 
.
MO remains the same… Best available for the price, and there have been a few silly ones out there.
Out unless it is a screaming deal. Plenty to drink at home anyway. Cash is king at this point.
Why would you? People shouldn’t let external factors like the economy factor into drinking wine.
Buying some here and there. Mostly deals, but some things I just want. I reduced my 2019 purchases by 30% from 2018 and am looking to reduce again in 2020. If it coincides with the current economic situation, it is coincidence.
Still targeted buying - specifically remaining new releases of 2015 birth year wines for my daughter and Champagne.
Spend is down about 20% from previously but I anticipate it trailing off more. Mostly 2015 Champagnes left to buy. Then my cellar is in good long term shape so I’ll move to inventory maintenance and short term drinkers.
Out before the plague and when in, solidly in the old world but now wishing to support domestics.
Waiting for deals. Haven’t seen too many yet.
This
I’m seeing good deals but two things keep me from jumping on them. First is not knowing how long it will be before normalcy and secondly, the deal price today may be more than the new retail price when this is over.
Just bought some Cognac, a screaming deal. First screamer I have seen.
I’ve been selectively buying from smaller producers that I would hate to see go under, plus my LWS.
+1. So far no screaming deals though very tempted a couple times.
With the recent move, I sent about 20 cases to two separate auction houses for online auction as a little house cleaning, and so far so good. But I did not sell anything over about $250 a bottle- and most of it was in the $35-50 per bottle range. The bidding is a bit slower than normal, but not too much, and for the winebid offerings where I can see how many people are tracking each lot- I am seeing a huge uptick in the number of watchers per lot.
I did not have time to watch it start to finish, but I watched several sections of the Acker Asia sale last night- and from what I saw wines were selling pretty well. The unsold lots I observed were all older Italian offerings- but that sector was already weakening quite a bit last fall. Wines like DRC, after the modest corrections of last fall, were hanging in there well.
On the buy side- I am bidding very little because there is not much I need, but the same advice I gave recently holds- keep watch for the really good wines that are either not quite A list or are not from A list vintages. There are definitely some nice deals in things like top 08 Bordeaux and the better 13-14 red burgs, but they are few and far between since most lots are focused on A list wines from A list vintages.
I am told in some circles that advance absentee bidding is light as people are not wanting to commit too far ahead- and remember that a lot of auction wines are sold to brokers or retailers where that is legal. So it is as much a reflection of worried merchants as perhaps private collectors. And so far, come auction day results remain solid.
The future is hard to predict. 2008’s most immediate and dramatic hit was to the investor and finance community which is where a lot of the heavy high end wine buying is focused. And so there you saw a very immediate drop from which the markets recovered a few months later as China stepped in and became a significant force on the buy side.
What is happening now is having, at the moment, a very hard impact on specific sectors of the market- but many areas remain somewhat insulated plus you have a lot of people sitting at home who are turning to online options to go shopping. And while this may well impact many aspects of our future daily life- I think most people understand the current way of life is very temporary in nature.
If shelter-in-place orders in the US and abroad last more than another month (which I think is possible), then the long-term impacts become far more worrying and with a far wider impact. That is when we could potentially see some strong impact on the auction market- but it is impossible to predict at this time.
if deals are good i’m in. I haven’t seen any retailer deals, but i’ve jumped on a fair amount of restaurant deals
I’m buying as normal and will increase what I purchase if I start to see great deals on wines I like and would buy at full price. I’m trying to avoid buying things just because they’re great deals.
Buying as normal, more if there are good deals.
Me too
Buying great deals or something I love only. Not because of the virus/economic situation. More for healthy living.
Nibbling at inexpnsive quality wine deals for daily drinking just to have some extra around. But for much more expensive wine, will wait for great deals like 50% off.
Really? I’ve never bought wine in my life except to drink, but I certainly factor in whether I expect the wine to be cheaper or more expensive in the near future, as well as my personal finances.
I’ve recently bought mixed cases of everyday whites from Posner and Chambers, as I don’t like opening Cotat, Carillon or Boulay when we need a cup or two of cooking wine. But it would have to be a compelling deal (40% off recent pricing) for me to buy an expensive wine I love. I’m usually an optimist, but I think there is a real chance- though not probability- that we could see a real depression. I’ve taken a voluntary paycut rather than layoff workers who can’t come in (though also paying them less). While I have a pretty secure job a real depression would mean some jobs thought invulnerable - academia, public employees, etc.- might not be. I’ll personally be very cautious for a while.
But I certainly don’t plan on selling wine, I think anyone sending wine to auction now might be in for unpleasant results. I’ll drink what I have (will last decades).