Originally Posted by gomestar
for the Cali wine lovers, good news from Mr. Parker:
"Despite the fact that bureaucrats continue to say the recession is ending, it seems to me there remain considerable stocks of unsold, high-end California wines that have yet to be dumped into the marketplace. We will continue to witness a correction in California wine prices, and the elimination of back stocks, especially for the very large wineries for at least another 12 months, possibly longer."
I'm seeing this from the smaller wineries, that can't afford to sit on inventory, but not to a large extent. Like Loring is about what Loring was last year, Beaux Freres is down a little, but still far from cheap. The well established (and no doubt capitalized) places, like say William-Sayem, not seeing much movement. Harlan is still egregiously expensive. Etc.
Something does have to give though, as I know grape growers are hurting badly.