Wash peaches, remove the pit, peel and dice into bite size pieces. For this recipe, I used 2 large peaches which weight about 1 lb 1 oz whole. Once peeled and diced, they yield about 14 1/2 oz and fill about 2 1/2 cup.
Add wine, water, honey and sugar to a sauce pan and bring to a boil over medium heat, this will take about 3 minutes.
Add rosemary to the boiling liquid and reduce heat just slightly to keep the liquid simmering. Reduce the liquid to a quarter of what you started with, this will take about 16 minutes.
Remove the rosemary with a tong and add diced peaches to the reduced sauce along with a pinch of salt and let cook until most of the liquid has evaporated and peaches are tender, stirring occasionally. This will take about 12 - 13 minutes.
Turn off the heat and allow the sauce to cool.
Optional: puree the peach sauce in a food processor if a non-chunky, smooth sauce is desired.