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A small cottage industry of brokers, auctioneers and specialists has sprung up around this growing market.Investment funds have been created and offer portfolios to interested non-experts.On top of that there are no definitive tests to determine what is really in the bottle. Carbon dating or even radioactive isotope cesium 137 tests can only give approximations.Pass the bottle Ultimately the amount of French wine is limited.For these investors wine is not just a status symbol, it's a commodity.The heavy glass bottle and cork stopper that we know today are relatively new inventions - only appearing in the 18th century.
Auction sales seem to be generally stable at the moment, but have fluctuated massively.
According to James Miles, co-founder and managing director of Liv-ex, the merchants who use their services and standardized contracts are responsible for well over 90 percent of trade market turnover.
Miles' goal is to make "the wine trade more transparent, efficient and safe." Especially since it is opaqueness that held the market back in the past.
'Sour grapes' - buyers beware Still the world of wine is one full of mystery and specialized jargon.
It is the unknown and unknowable that fascinates wine lovers; but it is exactly these qualities that can lead to trouble.
Old wines are especially tantalizing for con artists because there are not many people who actually know what they should taste like - a conundrum of being rare.