Sam's Wine and Spirits in Chicago just ran a special offering 15% discounts on about 3 dozen Bordeaux futures from 2005. As I have commented on in the past, the release price of these futures was not only ridiculous but nearly illegal, in my estimation. I think Sam's already discounting their futures is an indication of two things:
1. These futures were overpriced initially.
2. The market for these wines will tank on release.
It serves the greedy buggers right. I hope they all get stuck with tons of overpriced wine. We will see.
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1 comment:
I think if people pay silly money for wine they haven't tasted on the off-chance that they can trade it at a huge profit to other people who won't drink it, then schadenfreude is the only reasonable response if it tanks!
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