Collecting wine is a well-known hobby of businesspeople. So what happens when the economy tanks? In many cases the wine goes on the block. Says a director of an international bank in New York: "You create your bonus by lobbing out the pricey stuff." Experts estimate that double, possibly triple, the usual supply of auctionable wine is on the market. Add to this a proliferation of players―numerous online sites and retail stores have entered the field―and much of the scarcity that drives prices at any kind of auction is gone. Many lots are within reach of just about anyone with a paycheck.
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