Poor economy does naturally result in lowering of prices but California wine has completely lost its niche. Insignia half bottles 2002 for $10 a bottle! I don’t think we see exceptions to the rule. The trend has always been to sell off California wine and move to the next vintage. They are special wines. Insignia is a great wine depending on the vintage though incredibly expensive to be a “drinking” wine.
What about the Chardonnay or Sauvignon Blanc from California? Do they still dump buckets of acid in the vats to bring the acid up? Those “great” and “good” wines can live for three years before the consumers have puzzled faces of how can this happen to a wine? It is only …. years old!
Economy does hurt a lot of people but shuddy workmanship, aimed for a large niche of American buyers without much wine knowledge, results in not only the demise of the garbage sold under California label but also damage to anyone who made an honest effort to make good wine and just happened, by some odd coincidence, to be in the same geographical area as cheaters are.
Let’s hope the good winemakers fare better this poor season.
As the economy tanked, oenophiles continued to drink–but with cheaper wine.
The “2009-2010 State of the Wine Industry,” an April report by the Wine Division of Silicon Valley Bank, called Q4 2008 “the worst Q4 in memory for the fine wine business,” adding that for all U.S. wine purchases, “price points below $35 are selling, but wines between $50 and $125 are in a “dead space.”