Tuesday, October 7, 2014

More counterfeiting news

The attention being paid to counterfeiting continues. Bill Koch and Rudy Kurniawan are the primary cause of the press covering fake wine and methods being used to defeat would-be shysters. See my earlier posts, herehere and here.
All of this time and effort spent discussing wine fraud probably makes people nervous. It shouldn't. This will almost assuredly never matter to almost every wine drinker. No one is bothering to counterfeit a $20 bottle of wine. This goes well beyond #FirstWorldProblems to #RichPeopleProblems. The money some people spend to acquire old, rare wine is insane. Even if you can guarantee the wine inside the bottle is actually what the label claims, you can not guarantee it will be any good. This is partly why counterfeiters get away with it. Most people have no idea how these wines taste.
I don't support the fraud in any way shape or form but it certainly has reminded big spenders that an old Latin phrase still has relevance in the digital age. Many would have done well to recall caveat emptor (let the buyer beware) earlier. Some of the fake wine sold for huge sums were from vintages before the producer ever made wine. A minimal amount of investigation would have revealed the scam.
Mark Ellwood, on Bloomberg, writes an in-depth post about even more ways to prevent criminals from ripping off rich people. Read his entire article here. Bill Koch now spends upwards of $500, in some cases, to authenticate a single bottle of wine. I've never spent that king of money on a bottle, much less to verify its provenance. Particle accelerators, laser and microchips are some of the techniques Mr. Ellwood explains in his piece.
The whole concept fascinates me and the amazing, and expensive, efforts to thwart counterfeiters are impressive but you can't stop it entirely. I will continue to read and share articles but none of this causes me to lose any sleep, my wine purchases are safe.

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