Wine at foreclosure prices

July 8, 8:08 PMScottsdale Wine ExaminerPhilip Guana

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One of the things that I hope to bring to my readers is a true perspective of what is going on in Wine industry and some behind the scenes insights to help you better understand wine. In this slow economy you may wonder how it can benefit you when it comes to enjoying that special bottle, well here’s how it works.

Because of the economic slowdown, the wine industry has been forced to adjust pricing and bring into line some of the out of control prices that Napa Cabernet’s were fetching, for example. During the housing boom prices were over inflated and out of wack, same was true for the wine industry. As in the housing slump, wine prices are now in a slump and there has been a serious pricing correction, which only means great deals to be found across the board. Additionally with a weaker Dollar vs. Euro, wines imported from Europe have dramatically decreased as opposed to wine imports from South America and Spain that have increased.

So, when you are perusing the wine isles at your favorite store, ask the wine steward what good deals he might have on hand. Right now wines that use to cost $80 - $100 a year ago are now down in the $50 - $70 dollar range. It may be a good time to pick up some collection wines or brands that you hope to hold on to for a special occasion. But most impressive are the prices you’ll find in South American wines. You can find some really great quality wines that are in the $15 to $25 dollar range and some amazing everyday drinkers in the $10-15 dollar group. Look for Argentinean wines from the Mendoza region, this is their “Napa Valley” and is where the best wines hail from. Don’t forget Chile or Uruguay, both are serious wine producers and are worthy of a taste.

Now my favorite area to search for great wines is in the Spanish section. Spain is producing high quality wines rivaling their Italian and French counterparts for a fraction of the price. Seek out wine from Montsant orPriorat for some exceptional, big, juicy wines. While you can find some great tasting Tempranillos from Rioja or Navarra, don’t forget to check out other regions like Toro or Jumilla. Spain offers you a bountiful selection that can satisfy any palette or preference. For a great selection of Spain wines here in Scottsdale no one’s list is more complete or better thought out than that of Sol y Sombra’s Spanish Kitchen. With over 50 selections all from Spain, you are bound to find something perfect for the night. For the best retail selection here in town, drop into AJ’s Fine Foods on 44th and Camelback. Cellar Master Mark Stern loves Spanish and South American wines and has a wonderful selection to choose from.

So remember, hard times are good times for wine drinkers. There are lots of great deals out there and wine prices have dropped considerably. So if you can’t’ go out and buy a house in this down market, how about downing a great wine at foreclosure prices.