Rare wine mystique to be unmasked
2013 looks to reveal the true extent of counterfeit wine in the rare wine trade. For years rumours and suspicion over various vintages was constant. And so the day of reckoning has come with 2 of the titans coming to a Manhattan court. Billionaire Bill Koch vs. tycoon Eric Greenberg. Koch is suing for $300,000 over fake wines that he bought from Greenberg through an auction house. The financial stakes of the cases and potential reverberations are stunning: In 2000, global wine auctions brought in $92 million; in 2011, global wine auctions hit $478 million. Those lofty days may be over, toppled by the biggest wine hoax in history.