Melt butter in a medium-sized sauté pan.
Turn heat to medium low and add shallots, garlic and thyme. Sauté for about 2-3 minutes until shallots are soft, stirring occasionally.
Add flour and stir for about 1 minute.
Pour in wine and broth and bring to a boil. Turn down slightly, allowing the sauce to have a small boil, stir occasionally.
Cook until sauce is reduced and has thickened. This could take up to 45-60 minutes. Season with salt and pepper.