Bdx Auction prices

[Bacchus]

Just surfing the web and came across this interesting tid bit. Things change in a hurry!
http://www.decanter.com/specials/529339 ... low-prices

[DavidG]

Sounds like the spam I get about iPads going for $2 at auction. Is it real? Do they sell 1 at give-away prices just to lure in the suckers?

[Bacchus]

iPads @ $2!! Great, it'll make a nice companion to go along with that $4 Lafite.

[JonB]

From today's (10/4/2011) Wall Street Journal, "Overheard":

Take it or Lafite. That was the sentiment Sunday at Sotheby's fine wine auction in Hong Kong. For the first time since 2009, the auctioneer failed to sell every bottle.

Among the 59 unsolds lots were bottles of Chateau Lafite Rothschild, now the ultimate status wine among Chinese nouveau riche.

Since driving the Wine Market Journal First Growth Bordeaux Index to record levels at the end of 2010, a Lafite reversal has since dragged the index down.

At least for investors left holding bottles, it is a sublime way to drown one's sorrows.

[DavidG]

Glad I sold my Lafite last winter.

[stefan]

I am thinking of trading Lafite for something else. IIRC, trading real property for like real property has no tax consequences.

[JimHow]

I'm going to hold my Lafite and drink it with Stuart and Kathy in the last BWE Thursday night dinners before we enter our respective nursing homes.

[Houndsong]

Some of the iPad auctions are come-ons. Some of them are "legitimate" so-called penny auctions. Stuff may go for a nominally low price to the winner. But since bidders must pay to place each bid/bid increment (usually $1), the auctioneer/seller can make a lot of money on something that sells well below retail.