Shallot Jam

1 1/2 lbs shallots, peeled
1 1/2 cups sugar
2 cups Sherry vinegar
1/2 cup Red wine
2 tablespoons kosher salt
2 bay leaves
3 sprigs fresh thyme

Slice the shallots. Mix sugar, 1cup water, vinegar, wine, & salt in a large saucepan. Place over low heat; stirring often to dissolve the sugar. Add shallots, bay leaves, and thyme.
2Raise heat to medium-high; bring mixture to a boil. Lower heat; simmer for 1 1/2 hours, stirring often.
3Remove from heat and allow to cool. Serve at room temp., or store chilled up to 2 weeks.