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Article: Buyers and Cellars; As Wine Prices Skyrocket, Some Collectors Develop a Taste for Investment
- Article from:
- The Washington Post
- Article date:
- December 30, 2007
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Not long ago, Stephen Bachmann, a private-equity investor turned
online wine store owner, posted a chart on his widely read blog
about wine collecting. The dots on the graphic charted an investment
starting at around $1,000 in 2003. They continued on a sustained
northerly path -- up 100 percent, up 200 percent -- peaking
above $4,000 in 2007.
If the average investor's E-Trade account looked like that chart,
he would be popping open bottles of champagne. But the chart's
subject did not concern the latest hot tech stock. It certainly was
not charting the performance of a 401(k) retirement fund. The liquid
asset in question was literally liquid: a single bottle of 1990
Petrus, a Bordeaux ...