Wednesday, March 25, 2009

Charity auction enjoys success, faces challenge

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The Sun Valley Center Wine Auction—an annual event that is the foremost source of funding for the nonprofit Sun Valley Center for the Arts—has once again been recognized as one of the most successful charity wine auctions in the nation.

In Wine Spectator magazine's latest issue, the Sun Valley auction is listed as No. 8 on a list of top 10 auctions for charitable causes. The gala event brought in $939,600 from bids at its July 2008 live auction in Ketchum, the magazine reported.

The Sun Valley auction has become a regular on the magazine's list, as has the No. 1 charitable event in 2008, the Naples Winter Wine Festival. That auction, which benefits the Naples Children & Education Foundation in Florida, brought in $14 million at its 2008 event, the magazine reported.

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Charitable wine auctions will likely not be so lucrative this year, Wine Spectator predicts. The 2009 Naples event tallied just over $5 million in live bids, a 64 percent drop from last year, the magazine reports