"They are starting to realise the value of wine, not just the price of it".
Agents began visiting wine companies to sift through years' worth of paperwork for evidence that importers were underdeclaring the value of wines to escape customs duties.
While Asian buyers accounted for 12 percent of the value of wine sold, that was actually down by one percentage point from last year.
Before the game, four men, each wearing shorts and decked out in Yankees paraphernalia, debated the relative value of wines from Argentina and Chile as they waited for the rain to pass.
Simon Tam, a Hong Kong-based wine consultant, wrote a pair of articles on Jancis Robinson's Web site describing what he called "common practice by a number of wine importers to systematically undervalue the declared value of wine" by more than fifty per cent.
Some of the evidence for this view is convincingly presented in Daniel Kahneman's recent book "Thinking Fast and Slow": spectacular failures of expertise include predictions of the future value of wine, the performance of baseball players, the health of newborn babies and a couple's prospects for marital stability.
The value of wine is as much about the bottle as what is inside.The relationship between the price of a bottle of wine and its taste is weak, according to two studies in the inaugural issue of the Journal of Wine Economics.
For example, the ability to study geographical origin-related NMR metabolic effects is of extreme importance, since the high added value of wines is obtained from enforcing protected denomination of origin (PDO) and protected geographical indication (PGI) state regulations to control the appellation of wines [2, 5].
During the same period, however, the total value of wine sales increased by 3.5%, but that's only because of a price increase of 7.9%.
Now, amid concern that century-old bottles have been spoiled or celebrated vintages rendered anonymous by lost labels, some of the city's most prominent wine collectors — including Donald Drapkin, a hedge fund manager who estimated the value of his wine collection at $5.2 million — have sued WineCare, which is now in bankruptcy court.
