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Wine Auctions as Economic Indicators

Jay McInerney, the Wall Street Journal's wine critic, attends wine auctions so you don't have to. (He picked up a case of ‘06 Roumier Chambolle Musigny for the reserve price of $500, in case you were wondering.) So what did the auctioneer and senior VP at Sotheby's tell McInerney? "The market is basically back at 2008 levels." [WSJ]