The Rich Folks Guide to Wine Buying in a Recession

Posted by Tom Wark on Apr 14, 2009

All wine lovers are reacting to economic down turn in different ways: Fear, apprehension, taking advantage, slowing down.One thing is for sure, though. If you can afford to buy wine, now has never been a better time. Lots of deals out there to choose from and great price/quality ratios across categories.

The thing is, no one thinks of the Rich Folk's interests in time like this. So I thought I might put together a quick "Rich Folk's Guide to Wine Buying in a Recession."

The one thing the Rich Folk need to do right now is start acting like Rich Folk and start representing those deep pockets. It's time for you guys to step up and start to carry the rest of us until we can get back on our feet. That's right. It's time you guys used those savings and assets to pick up some great deals on great wines; but it's also time you stepped in and put some vigor into the mid and high end of the market. And I have some suggestions along those lines.

1. Get Buying
And I'm not talking the new chic cheap stuff. Get out there and pick up those $40 Cabs that used to be $65. You'll thank me for this advice because now they represent good buys. Plus, if you all take your allotted case, you'll help keep many of the better brands in business. So look in that $30 to $50 range and get buying.

2. Join The Club
Of all the people out there, you Rich Folks are the ones that can encourage wineries most by joining their wine clubs that have taken such a hit while the less comfortable among you have dropped out like flies. But don't feel like it's a burden. Right now wine club members are getting great offers on deals, some up to 50% off of fine wines that just haven't moved. Do your part, but remember that you'll be getting access to great deals.

3. Bid High and Bid Often
Remember too, of all the folks out there you, the Rich Folk, will want to make sure that when all this is over there are still some great wine auction houses that survive the down turn. At the big auction houses the staff in the wine department is most vulnerable because the wine department isn't that important. So get on those cases of 2000 Bordeaux, drop some bucks for the DRCs, keep the prices of the better Aussies and CA cabs appropriately high, and don't forget to throw some cash at the collectible Super Tuscans. You're gonna get good deals and in the long run you can sell it for much more to us Climbers when the economy is better and we start posturing with our money again.

4. Eat Big, Drink Well
For Heaven's sake have some wine with lunch and dinner. Not a cocktail. Not beer. Throw some Rich Folk love at the restaurants that are working hard right now and struggling. They need your support. Plus, you get killer meals along with wine lists that hold bottles that have been reduced in price cause there's too much good stuff left over and not being bought by cheeky tourists and new partners at the legal and accounting firms.

Bottom line, Rich Folk…It's time to step up. This guide will hopefully give you a place to start spending.