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Ray Isle, Food and Wine Magazine executive wine editor, on how to spot a fake wine in the high-end auction market.
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Turns out to be a fake.
That risk is on the rise in the luxury wine market joining me now with tips on how you can spot -- fake.
We've got ray -- executive wine editor at food one magazine -- -- -- with us.
So the auction wine market is a huge market half a billion dollars a year in business.
What percentage would you guess is fake it's very hard to figure out to entirely because it's illegal of course but it's -- we're thinking around 445%.
Which is you know when.
That is to be a lot of money OK you're once inside let's double that to 10% -- about the price of this high NYU site 1996 -- -- before dollar that same line ten years later sold for thirteen thousand.
Why are prices up so high is that what's fueling higher counterfeit that's what did that it was feeling -- was the profit on counterfeiting is growing and the thing is -- -- Fine fine wine market -- high in -- market has moved.
Global is you know now you're selling lines in China and Hong Kong Singapore.
You know so there's much more demand for very finite amount of very very high -- one another amid fears that China those knockoff artists are doing counterfeit one but actually this is an inside job your own brother are doing on the hot and the high EMI -- about not not my record.
A lot of high inside on the released as a -- -- within -- -- in the US and and Europe and it's and it's guys who are in you know really into wine in the business that prominent dealer yet no current current current case in FBI's actually charged a guy who is a very well known collector sold a lot of wind and auctions turns out.
A lot of that line may not have been what it was claiming to be that would got three follow through these are counterfeit bottles guys and and let's see if breaking point out what makes them confident that the nice nineteen -- 23 -- in 1923 -- -- -- and this is this is -- that would sell for like 30000 bucks an auction.
If it were real actually selling to wait for thirty does but the thing is if you look at this little symbol here the red the red dot that's definitely OC -- sold -- -- Always stamp really dark and read this one's much too light.
And that's one of the little sort insider things I hit the bottle is the glass sits at a gas is real so what someone did -- they got -- much less expensive wind from the 1930s.
Reef refilled it -- different wind slap the label on it and faked.
The actual label and in.
You know crisis seller for -- a whole lot of money -- hypothetically doing good things.
Got a couple other pictures comparing counterfeit with a real think what are some other general tips and people a look at volatility it's you know if there's anything -- seems moved out of -- would labels that seem like the papers too young for the -- advantage things like there's a famous because one with a nineteen I think it was -- 49.
Hi in Bordeaux that they replace the capsule but the group.
Who face capital -- a recycling symbol on it.
-- it and it -- -- bet didn't exist in 1949 so I don't know who was dumber the yeah the guy who bought that was that was a bring this counterfeiters Vienna but it's gotten more more sophisticated and -- in the anti counterfeiting has got more more sophisticated with chips embedded in the label -- microchips -- -- that contrary idea baby yeah yeah so it's -- -- really interesting this up.
Today segment thank you so much -- -- and thank you producer for both of them -- they are happening Coca.
-- made money during this half hour and I have also learned something about one.
