Naples Wine Auction Raises $5 Million

My first reaction on seeing that the Naples Wine Auction raised $5,000,000 this year is that every thing is a matter of perspective.  It all depends on whether you see money as absolute or relative.

Naples raises $5 million sounds really good.

Naples auction down by two-thirds sounds really bad.

I suspect that we will hear all sort of explanations of the downturn in the next few weeks, but regardless, everyone in the fundraising business knows how hard you have to work to raise any sum of money, and $5 million  is worth celebrating!