Industry insiders spend $1.5 million at Premiere Napa Valley

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Saturday, February 21, 2009

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BY L. PIERCE CARSON
Register Staff Writer

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7:20 p.m.Exceeding expectations of Napa Valley Vintners in the current economic slump, attendees at Saturday’s midwinter auction spent close to $1.5 million on wines blended just for the wine trade.

Restaurateurs, retailers and wholesalers turned out in large numbers for the 13th annual Premiere Napa Valley, conducted Saturday afternoon at the Culinary Institute of America at Greystone in St. Helena.

While auction revenues fell short of last year’s $2.2 million, a spokesman for the local trade association said the membership was “thrilled” with both the turnout and the bottom line. The current economic state had worried local vintners that auction attendees would bid gingerly on the 200 unique lots.

Although some lots failed to attract big spenders, a couple of them did command go-for-broke prices — both lots from relatively new kids on the enological block.

Five cases of specially blended Scarecrow 2007 Cabernet Sauvignon — called Toto’s Opium Dream by winemaker Celia Masyczek — received a top bid of $80,000.

Five cases of Ovid 2007 Cabernet Sauvignon — specially blended in concrete tanks at the Pritchard Hill estate by winemakers Andy Erickson and Austin Peterson — drew a top bid of $42,000.

Both lots were purchased by Nakagawa Wine Company of Tokyo, Japan.

Complete details of 2009 Premiere Napa Valley will appear in Friday’s wine section of the Napa Valley Register.

7 comment(s)

db76 wrote on Feb 21, 2009 7:35 PM:

" Spending $50 on bottles of wine is exactly the kind of lifestyle purchases that are behind this recession. Consumers are going into debt to maintain a lifestyle. As we have discovered, this type of spending is not sustainable, and this is why the Bush stimulus spending plan was a complete failure. If things are going to improve, people (and the government), need to 1) cut wasteful spending, 2) pay off debt, and 3) save. "

napa_mom wrote on Feb 21, 2009 8:39 PM:

" Thanks NVV and member wineries! The funds generated by PNV and Auction Napa Valley are greatly appreciated by the community! Keep up the hard work and funding these crucial programs.

And of course, thank you to the members of the trade and media that came to our home, supported our businesses in these tough times and continue to sell Napa Valley wines. We realize the times are challenging for us all and business might be down significantly for you too, yet you continue to have Napa Valley wines on your wine lists and on your store shelves. Thank you!

Cheers! "

anticommie wrote on Feb 22, 2009 2:06 AM:

" db76:

The group that spent this amount on wine is a private business, and can purchase whatever they want to. Thank heavens people are still able to purchase like this. I know we are in a recession and all, but I still try to go out and spend money when I can, so that money goes into the economy. People that can, should spend.

See it works like this:

I work. I get a paycheck. I put some money away into savings. I pay my bills. I buy my "necessities." Then I go out to dinners, buy new clothes, etc, etc. By supporting these businesses, I help in securing the jobs of the employees and the employers, so they can make their money to do the same that I have done. "

Farmgirl wrote on Feb 22, 2009 8:07 AM:

" db76 - the people who bought the big lots were from Japan. Let them spend their money here! "

funnyme wrote on Feb 22, 2009 9:14 AM:

" The beauty of Marketing. Supply and Demand accomplishes marvelous things.

Excellent job Nancy!

Love your comments farmgirl and anticommie.

Love the wine too. "

jmo wrote on Feb 22, 2009 3:36 PM:

" That sounds about right a drop of 36% just like real estate values and 401Ks. "

LMW wrote on Feb 22, 2009 4:46 PM:

" Wonderful!

Happy for all those who benefit.

Can we now be creative thinkers, and assist local needs.

Our Roads and Schools!
Step up Council members and BOS!!!! "

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