I found the article on fine wine market @ http://news.bbc.co.uk/2/hi/business/7521282.stm intriguing. In fact the fine wine market craze parallels more recent big diamond, rubies and emerald purchases by the rich and famous speculators. Amazingly buying wine through auctions, like gems and jewelry are becoming increasingly popular.
Useful links:
www.zachys.com
www.auctionconsultants.net
Wine is the new must have thing of the ultra-rich. Nothing says 'I'm rich' like pulling a $10,000 (£5,000) cork out of a bottle and in cultures like Asia and Russia that sort of behaviour is really a part of new wealth.
- Scott Zenko
With art you can collect it and enjoy it at the same time. Unless you are into the pleasures of simply looking at bottles the only way to enjoy a wine collection is to open the bottles and consume what' s inside, so you have just destroyed the value, if you will, of that particular piece of your collection.
- Douglas Barzelay
We believe wine is there to be drunk. We will try and make sure that the market is a bit more fair than simply one person having complete control and using it as a commodity really, as opposed to various bottles of slightly intoxicating fermented grape juice, which is really what we are talking about in the end.
- Simon Berry
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