Current state of wine market

So I searched the ZIP Code that house you pointed out was nearby. There were four sales last year above $2 million. There were some pretty cool amazing houses. Really good architecture and beautiful homes. All lacking Wine cellars

That’s not where I live, it’s just somewhat close to where I live.

That house won’t sell no matter what they put in it because of the exposure. It’s very close to the road and there aren’t any trees.

I don’t think putting in a wine cellar is a selling point, btw, just seems to be something people add at a certain price point.

Btw there are pretty neat houses nearby the powers run house. This one is cool, and doesn’t have a wine cellar, but you might recognize it from the movies (love and other drugs)

https://www.realtor.com/realestateandhomes-detail/710-Bending-Oak-Ln_Pittsburgh_PA_15238_M33614-81176

Can’t even imagine what that’d cost if it were in Santa Monica.

Oh btw, my house had a wine cellar when we bought it and it wasn’t in the listing photos, so unless it’s a really fancy one, it may not be pictured.

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That is a Cool House.

We should do an event there :partying_face:

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After a certain number of sqft don’t you just have to decide whether you want 7th bedroom or bathroom and start adding other sh#T.
A pool table is always a good idea too!

Yeah, I mean, you make rooms bigger to some point; I imagine after about 8000 sq/ft or something you don’t gain much more by increasing the square footage unless you have an enormous ballroom or something.

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I’m sorry is this the Zillow thread ?

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Appears Redfin… :rofl:

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Is it me or does the US market seem to be picking up for Bordeaux? A lot of the back vintage offers I’ve received that are competitively priced seem to be disappearing instantly. I am also having a harder time finding the same prices I was buying at over the prior 12 months.

I am seeing more well-informed voices suggest that in the next few weeks/months we may very well be looking at a situation that dwarfs the 2008 Great Recession in its broad economic impact. If that is the case, you will be able to find plenty of discounted wines.

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This is anecdotal and I’m not implying it’s indicative of any larger trends. I’m in an area of the country where there’s not a lot of Bordeaux (Portland, OR), and I buy 99% of all the wine I consume from local stores. In the last year or more, my local Trader Joe’s is carrying a lot “real” Bordeaux as opposed to just having their own private labeled Bordeaux. 2020 Meyney for $35, 2020 Cantermerle for $33, 2015 Laroque for $30. Good prices for this area (not sure how that compares nationally). Not high end collectibles certainly, but good everyday drinkers that will also age. I take TJ’s carrying these wines to be part of the softer market where there’s a ton of Bordeaux that isn’t selling in normal channels. But again, I don’t buy a ton of Bordeaux and Portland isn’t a big Bordeaux market, so I’m not sure this is indicative of larger trends.

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So you are saying I should be more concerned with rebalancing my portfolio than I should be about the price of 2008 Ducru-Beaucaillou?

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I am also in a part of the country where there’s not a lot of Bordeaux (Maine).
Those look like good prices to me. I don’t get Meyney selling for more than Cantemerle. Laroque looks like a very good price for something approaching a nice drinking window.

I’m keeping my powder dry. These are the kind of Bordeaux that I used to drink regularly, if vintages with some bottle age show up at good prices, I’m in.

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That’s what I thought too, but I’m happy with both, but it’s painful if I think I bought 1979 Meyney for $5.99.

Also, a year ago it was 2020 Clos Rene at $42, 2020 Grand Puy Ducasse at $39, and 2020 Ormes de Pez at $32. Those all sold slower, but the current selections seems to moving better. Maybe sub $40 is more the TJ’s market.

HDH auction this week seemed to show (pretty clearly) that we’re back on the upswing with regards to wine pricing/values. So many wines went above estimate I was floored……

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The 2020 Cantemerle is a lovely wine. Needs more time than the 19 though.

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Agreed, the HDH auction pricing was shockingly High.a case of 14 raveneau MDT hammered for 10k.

That may be the case, but I will point out that my local higher end Trader Joe’s has gone the other direction in the last year or two. They used to always have a half dozen or so legit Bordeaux in the $25-70 price range (e.g. Lagrange, d’Issan, Sociando Mallet), and now they don’t have any at all.

So it may just be a decision the individual store makes based on what is and isn’t moving, how much they care about having those kinds of wines, etc.

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It may also depend on which wholesalers in any given region are motivated to move out older stocks. Most mid-level 2020 red Bordeaux are painfully young to drink, but painfully old as cash-flow wines for distributors who bought them three years ago.

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