2006 might be remembered as the year in which the wine market went mad. "At these record levels, some wine is literally too expensive to drink. Advisers tell clients that the index of wine prices at auction performs better than stockmarket indices. Hoping for a windfall, a few individuals and some investment trusts move in. Cases of rare wine disappear into temperature-controlled cellars, only to return to the market when the speculators think a sufficient profit can be made." I remember being surprised when I learned lots of wines bought at auction are cellared and then resold, never drunk. Seems a shame, like those folks that own a beautiful sports car and never drive it.
Posted on May 8, 2007
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