It has been a topsy-turvy decade since Fine Wine International was established in 2004. A graph showing the annual turnover of wine auction houses over the last ten years would look like a map of the Himalayas, with dramatic peaks and vertiginous falls.
It seemed as though the good times would never end. But on 15th September 2008 the party ended. Lehman Brothers filed for bankruptcy and the credit-crunch began.
The turn of the century boom could not last forever. Even on hot summer days, there might be a rain cloud that can burst at any moment. The global economy is still fragile. But the fine wine market remains staggeringly robust, with record prices frequently achieved.
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