The worldwide economic crisis affected nearly every industry worldwide, and wine was no exception. In the wine market today, you don’t have to look very hard to find discounts on all sorts of wine varietals from wineries in every region. What many people might not realize, however, is that these discounts aren’t only to be found in the lower and middle classes of wines, but also in the premier, high-end bottles. At the end of last month, it was reported that one of the most coveted Burgundy wines, Domaine de la Romanee Conti, would be marketed in the coming months at nearly half its previous selling price. While the bottle would still cost a pretty penny—$3,600—this is a steep cut from the usual $5,000 – 10,000 consumers would have expected to pay.

All markets fluctuate, of course, so it would be reasonable to expect that this wine discount window should be closing any day now. Possible…but also possibly not. The recovery of the world’s economy is a slow process, and in the meantime, new business models, designed to be successful in this environment, have sprouted. Daily Discount sites—some of which we have highlighted within this blog—are plentiful and thriving, as wine enthusiasts looking to maintain a tight budget find that just because a wine costs less doesn’t mean that it’s “cheap.” What could have been a brief sales phenomenon turned out to be a genuinely sound practice, and the end result is that consumers and some wine sellers are seeing an advantage to maintaining a culture of discounts. Certain entrepreneurs have even taken to buying a winery’s overstock and relabeling them, then selling those wines at cut-rate prices.

Not everybody is pleased with the rampant discounts. In Bordeaux last month there was a very public protest over low wine prices, in which bottles were bought and smashed with hammers, to declare that selling wines at discount ultimately damaged the reputation of Bordeaux wines. The protesters further argued that inferior wines were flooding the market under the prestigious distinction of being labeled Bordeaux, and that the situation would not get better as long as prices remained low. Such public displays of indignation could very well rally support to end the low wine prices, and hasten the closing of the discount window.

A true wine enthusiast never really stops hunting for great wines at great prices, but right now the opportunities are as plentiful as they’ve ever been. Although this current state of the market could last for several months, or even years longer, it’s a good plan to keep on top of the latest deals now, just in case.