While the sales figures for wine are continuing to going up with more and more bottles being sold each year this is not good news for the premium wine makers especially in Napa Valley. While bottle sales are up the price per bottle is going down as many consumers are spending their money wisely in order to get more value for their money.
The producers of the most expensive American wines in Napa Valley are struggling with dipping sales as wine drinkers buy other brands when shopping for their wines. While they are choosing to fill their stemless wine glasses with more affordable wines as many as ten vineyards may end up facing foreclosure in 2010 due to poor sales. Many other wine makers in the area are stating their finances are very weak and will not make it in future years should the trend for more affordable wines not reverse themselves.
To add to the slumping wine sales property values in the region are dropping making it hard for vintners to refinance loans and cover operating costs while they try and ride out the low times. For wine lovers this may be a temporary loss of premium wine selection from Napa Valley but in the end many speculate that others will step in to take over these vineyards to create wine in the future.