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Each morning, while listening to the radio, I am bombarded with reports detailing the horrible state of our economy. The constant onslaught of negative financial news can be very depressing, but there may be a silver lining for Burgundy fans. In Beaune, the annual Hospices de Beaune auction was recently held and the Wine Spectator is reporting that wine prices have decreased dramatically. 450 barrels of 2008 red Burgundy were sold at prices 31.5% lower from those fetched by the 2007s last year. Likewise, 94 barrels of white Burgundy sold at prices that were also down from last year, but by only 2.45%. While the region no longer sets their prices based on the results of the auction, it is certainly an indicator of the interest in the vintage. Most reports coming from Burgundy consider 2008 to be a strong year for white wine, but spotty for the reds. The vintage may turn out to be very good for some producers, but it is generating little buzz from the press. Although the growers are always reluctant to go in reverse with thier pricing, perhaps the global economic crisis will bring a bit of sanity to the region. There are most likely sizeable quantities of 2006’s piling up in the cellars of many domaines and this will only put more pressure on the prices of the subsequent vintages. Good deals should be abundant for the U.S. consumer in the coming year, assuming some have the money to spend.

 


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