Wednesday, 28 April 2020

WINE duff

Nothing is immune from fraud and the wine market has been a target over the years. In the past there have been fads in Ireland where investors were encouraged to buy a crate or take a share in a stock of rare wines which were guaranteed to appreciate in value. Needless to say a lot of people got stung. Now another version is selling future options on popular wines before they are produced. But it seems that so much Bordeaux 2009 has already been sold in China that there isn't a enough to go around. Read about here. Ten years ago a number of Irish investors were stung by a UK investment firm, Croft and Dupont, who sold valuable wines they never had in their cellars. Read about the so-called "claret-web" here. In the past there have also been scams in selling rare whiskies and champagne.


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