Wine Auctions Are Officially Trendy
So every year, Napa Valley completely dominates the news cycle around a few events, but none more significantly than Premiere Napa Valley.
I’ve talked about Premiere before in this space, but the general idea is that wineries, well known wineries, provide a barrel of wine to be auctioned off in lots. The normal buyers are retailers, high end restaurants and yes, a savvy collector or two.
The event has been, nothing less, than an unmitigated success. Something along the lines of $6MM is raised each year these days, providing among other things, 25% of the health care coverage for children in the Valley.
Plus, it’s a fun event.
Perhaps the most surprising aspect of the entire success of Premiere, is that more regions in the United States haven’t copied it.
First, Sonoma ran their first version of it last year and raised about a half a million dollars.
Now, Walla Walla is getting into the act and their first auction takes place in a few weeks.
Before you ask, I don’t think we’re anywhere near the end of this trend and there’s certainly plenty of room for more growth in the area. Heck, plenty of restaurants would want about 300 bottles of extremely high quality wine (that’s about what a barrel gives you, 25 cases)
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