Counterfeit Wine: A New Crime of Deception
All over the world, wine is drunk in celebration, in religious ceremonies, after a stressful day and to accompany a fine meal. Most people enjoy the flavor, the history and the rarity of a bottle, and many horde bottles of prized vintage for upcoming events and as an investment in the future. Yet, few can tell if they are drinking a true 1944 Pinot Noir or a counterfeit 1994.
Recently the Bordeaux Index and the Wine and Spirit Trade Association (WSTA) issued warnings to wine collectors to beware of counterfeit wines. They suggested doing research and purchasing only from well-established merchants, but even Christie’s Auction house has been accused of selling counterfeits without their knowledge.
The best way to protect your investment is through an insurance policy custom made for your collection. Not only does the policy cover fraud and forgery, it can cover accidental breakage, temperature control failure, theft, fire, and water-related impairment.
