By Tara Weingarten
December 22, 2008 issue

Cheer up. There’s still one bright spot in the economy: sales of value wines (under $9) are up 5.3 percent in the last three months, reports A.C. Nielsen. That’s because, even in this grim economy, we need to maintain some semblance of holiday cheer. Even better news: sales of premium wines are down 10 percent, and deals abound. You may be able to treat your guests to the good stuff, after all.

If you’re one of the few who still have some extra bucks tucked away, try the Super Tuscan Ornellaia and Sassicaia, two of Italy’s most expensive wines. Wally’s premium wine store in Los Angeles (wallywine.com) is discounting them 20 percent. Sassicaia usually sells for $270 at Wally’s; now it’s $216.

If you’re still reluctant to drop the big money, there are plenty of bargains out there in the midrange prices. At Hartwickandgrove.com, a delicious 2005 Ravenswood Merlot Sangiacomo, which normally retails for $30, is on sale for $21. And the boutique producer Martini is selling its Sonoma Cabernet Sauvignon for $11.99 instead of the usual $19.99 at PlumpJackwines.com. If you don’t see a price you like, try bargaining. In this retail climate, you may just get what you want.