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53 Decanter.com, February 2015:http://www.decanter.com/news/wine-news/588010/acker-merrall-condit-hails-return-of-us-wine-
buyers
54 Business Standard, June 2013:http://www.business-standard.com/article/economy-policy/india-offers-to-slash-import-duty-on -
wines-spirits-to-40-113061700046_1.html
55 Knight Frank Wealth Report 2015:http://www.knightfrank.com/resources/wealthreport2015/wealthpdf/03-wealth-report-global-
wealth-chapter.pdf
56 Bloomberg Business, June 2014:http://www.bloomberg.com/news/articles/2014-06-22/wealth-managers-exit-india-as-
millionaires-hard-to entice
57 Wine-Searcher.com, Sept 2013:http://www.wine-searcher.com/m/2013/09/wine-investment-the-wine-economists-diagnosis
58 Decanter.com, October 2014:http://www.decanter.com/collecting/investment/587631/investment-analysis-fine-wine-trading-
platforms
59 RPC:http://www.rpc.co.uk/index.php?option=com_easyblog&view=entry&id=1405&Itemid=145
60 The Economist, August 2013:http://www.economist.com/news/finance-and-economics/21583662-investing-luxury-items-can-
yield-high-returns-risks-are-commensurate-fruits
61 Dimson, E., Rousseseau, P., Spaenjers, C., (2014) The price of wine
62 Metropolitan Police, Investing in Fine Wines;http://content.met.police.uk/Article/Investing-in-fine-
wine/1400013278591/1400013278591
63 The Drinks Business, August 2014:http://www.thedrinksbusiness.com/2014/08/wine-fraudster-kurniawan-jailed-for-10-years/
64 http://www.wineinvestment.com/wine-investment/storage-and-provenance/
65 The Independent:http://www.independent.co.uk/life-style/food-and-drink/protect-yourself-against-counterfeit-wine-2259390.
html
66 Bloomberg;http://www.bloomberg.com/apps/news?pid=email_en&sid=abA4_8axmWBc
67 The Economist, August 2013:http://www.economist.com/news/finance-and-economics/21583662-investing-luxury-items-can-
yield-high-returns-risks-are-commensurate-fruits
69 Barrett, D., (2012), ‘Investors lose millions in fine wine schemes’, Daily Telegraph, 14th April 2012
69 WineSpectator.com, 2012:http://www.winespectator.com/webfeature/show/id/howtosellwineatauction
70 Business Wir, March 2014:http://www.businesswire.com/news/home/20140304006191/en/MainStay-Investments-Study-
Reveals-High-Net-Worth#.VTto5_nF-z5
71 Bloomberg, February 2015:http://www.bloomberg.com/news/articles/2015-02-11/new-wine-fraud-website-will-help-you-avoid-
fake-bottles
72 Worldofwine.com, March 2014:http://www.worldoffinewine.com/news/after-rudy-what-can-the-fine-wine-world-learn-from-
the-kurniawan-case-4208257
73 Liv-Ex, 25 April 2015;https://www.liv-ex.com/search-wine.
do?wineId=&hiddenText=&keyword=DRC%2C+Romanee+Conti+1945&btnGo=Go
74 Four-Magazine, July 2014;http://www.four-magazine.com/articles/1714/spanish-fine-wine-institute
75 Liv-Ex Blog, June 2014, the role of a fine wine exchange:http://www.blog.liv-ex.com/2014/06/a-changing-market-the-role-of-a-
fine-wine-exchange.html
76 Wall Street Journal, February 2015:http://www.wsj.com/articles/robert-parker-steps-down-from-bordeaux-futures-1424966697
77 Cult Wines, Bordeaux 2009 Report
78 Liv-Ex, 25 April 2015;https://www.liv-ex.com/search-winedo?wineId=1395&hiddenText=&keyword=DRC%2C+Romanee+Conti%2C
+2009&btnGo=Go