MILAN (Reuters) - Prices of the most expensive wines have plunged in recent weeks, showing that not even the swish sectors of the economy are immune to the global crisis, top experts said on Tuesday.
The so-called great or fine wines, predominantly French Bordeaux, are often considered to be safe investments because their value grows with time as quality improves, while quantity drops as it gets drunk.
"We had extraordinary high prices in September, but afterwards ... we've seen in October the descent from the absolute top," Serena Sutcliffe, head of Sotheby's International Wine Department, told Reuters at a wine event in Milan. Read more...