Peel and finely chop the red onion and garlic.
In a medium saucepan, melt the butter over medium heat.
Add the red onion and sauté until translucent, then add the garlic and sauté for 1-2 minutes until fragrant.
Pour in the red wine and cook over medium heat for 5 minutes to allow the alcohol to evaporate.
Add the beef broth, balsamic vinegar, and honey, then stir well to combine.
Reduce the heat to low and simmer the sauce for another 10-15 minutes, or until it has thickened to your liking.
Season with salt and freshly ground black pepper to taste, then if desired, strain the sauce through a fine-mesh sieve for a smoother consistency.
Serve warm with steak, roasted meats, or grilled vegetables.
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