Buying wine for investment in this country is a risky business because it is difficult to sell profitably.
I’ve always believed that buying and selling New Zealand wine would not yield sufficient return to make it a viable investment. Locally we don’t have a very active secondary market while offshore our wine is not perceived as being very collectible. Drinkable, yes. Collectible, no.
Yet more amazing stories have come out of the Rudy Kurniawan wine faking trial in the US. Kurniawan was finally sentenced recently for faking millions of dollars worth of rare wine: he got 10 years in jail, and has to pay an awful lot of
Fine wine auction house Langton’s is to close its Sydney warehouse and centralize its operations in Melbourne. After many years of operating a Sydney warehouse, currently in Camperdown, the Woolworths-owned company will move back to its original home in Melbourne over the next few months,