Wine Prices Continue To Fall

A bottle of Léoville-Las-Cases 1986 can be bought today for 200 dollars. The average retail price for the same bottle of wine averaged 360 dollars just two years ago (according to the website of U.S. retailer Vinfolio). In other words the price  more than halved (minus 55.55 percent). The price for older wines is generally in sharp decline. Two years ago it was impossible to find a bottle of 1982 Latour for less than 2,000 dollars. Now there are dealers who offer this wine for around 800 dollars. We found an even lower price of 500 dollars, admittedly for a bottle with a damaged label and traces of leakage. Wine prices are in decline in all segments of the market. According to the San Francisco Chronicle Americans spend on average 20 to 50 percent less for wines costing $ 10 or more. People who used to average $ 25 a bottle, now only spend up to 15 dollars. Bottles of 12 dollars may no longer cost more than 8 dollars. Everything above 30 dollars has difficulty finding buyers. Even people who can afford it, spend less on wines. “Conspicuous consumption” is no longer appreciated. Or, as the SFC puts it, the rich leave their Rolls Royce in the garage and drive around in their Toyata Prius.