The Sauce ….

1. Melt 5tbs butter in a medium sauce pan. Add shallots and cook over medium-low heat until soft and translucent, (the shallots not the pan), about 7-8 minutes. Add the wine, beef broth, thyme, salt, pepper, and sugar. Bring to a boil and cook over medium heat for about 30 minutes, or until the liquid is reduced by about half.
2. While the liquid is reducing, place remaining 3 tbs butter in a small bowl, zap it to soften it, but not melt it. Add flour and mix into a smooth paste.
3. Once the sauce has reduced, turn the heat to low remove thyme sprigs, and whisk in flour butter paste, about a ts at a time.
4. Let simmer until sauce is thickened and set aside

The Beef ….

1. Let beef rest at room temp for about an hour. Preheat oven to 400
2. Season the beef with salt and pepper. Rub it all over, rub it real good. 
3. Heat pan lube in the oven proof skillet (a nice cast iron works great for this), til it starts to smoke a little. Yeah you’re gonna get it so hot it needs a cigarette
4. Sear the beef on all sides, until well browned on all but one side.
5. Turn that beef to the raw side and put the whole pan right into the oven. Cook until internal temp is about 115-120 degrees (about 15 mins)
6. Once done transfer from pan to a cutting board and let sit for about 5 minutes. All that cooking made the beef tired and now it needs to rest. 
7. While it is resting, discard the fat from the skillet, and set it back on the stovetop. Add ¼ cup of beef broth and bring to a boil. Use a wooden spoon to scrape all the yummy bits from the bottom of the pan. Add this broth to your sauce and bring your sauce back up to a simmer
8. Cut your beef into slices and spoon the sauce over it. 

Side Note: 

This sauce is great on sirloin roasts and prime rib roasts, cook the meat pretty much the same way. Just yummy yummy stuff