Thursday, June 19, 2008
Parting fools with their money
Sorry this is off-topic, but I thought I'd include it because it shows that when one foolish wheeze for getting people to part with their hard earned (such as BTL) comes to an end, along comes another.. I know a little bit about the wine trade, having over 2000 bottles in the cellar (for drinking, not investment) I can therefore say with some authority that not only is the fine wine trade in bubble mode (and not just Champagne..!) but also that the margins charged by the trade, coupled to the costs of professional storage, make the prospect of a profit minimal, and the prospects of a loss near certain. But I shouldn't complain - I stock my cellar from trade sales, usually paying less than the punters who bought 'as an investment' ten years ago!