Sunday, February 21, 2010
Premiere Napa Valley barrel tasting and auction, the American wine industry's most prestigious gathering for the wine trade, concluded the day Saturday, February 20, raising nearly $2 million. Bidders from across the country and around the globe purchased the 200 unique, crafted-only-for-this-auction offerings. The 2010 tally was nearly 30% stronger than 2009 and bested only twice in its 14-year history.
"The story, however, is not about the funds raised as being the benchmark of the Napa Valley wine industry's price stabilization in the current economy. It's about the confidence buyers for resale have in Napa Valley wines today, and the optimism and viability they feel about Napa Valley wines in the months and years ahead when these wines will be released for sale to consumers," said noted wine industry analyst Barbara Insel, of Stonebridge Research, who was at Saturday's event.
Read more about this year's Premiere Napa Valley.