Fine Wine Fakes - Buyers Beware

With many of the world's fine wines now changing hands for tens of thousands of pounds then of course the fraudsters move in. In the attempt to gain the upper hand the authorites are now resorting to radio-activity in their fight against the fraudsters. Interestingly enough with a rising market there is the possiblity of the return of boiler room scam which involves aggressive cold calling and the selling of over priced wines that do not exist. I have received enquires from several investors interested in selling their fine wines only to subesequently find that the company who sold them the wines, had disappeared along with of course their wines. My company is now very much more circumspect in handling older wines especially single bottles. In order to protect our clients we now "Bottle Audit" our purchases by demanding further information from our supplier as to the authenticity of their wine. Having over 35 years of experience in our trade and reckon I have a good eye for fakes. Additionally,if we are unsure as to the pedigree of a wine we will ask our supplier to sign a disclaimer stating that if we subesquently find the wine to be a fake it will be destroyed immediately. With our market now worth over $3 billion a year we have a duty to protect the reputation of ourselves by being more vigilant.

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