David Fickling, Columnist

How Fine Is Wine?

An IPO by Australia's Accolade may show the bargain bins can be as lucrative as luxury vintages.

January 12, 2017 at 8:00 PM UTC

David Fickling is a Bloomberg Opinion columnist covering climate change and energy. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times.

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What is wine?

Is it a luxury product, or a staple good? A bottle of 1946 Petrus can cost more money, gram for gram, than gold. At the other end of the spectrum, you can get a bottle of Spanish red for less than the price of the same volume of water. To Benjamin Franklin, wine was proof of divine love for humanity; to others, it's just grape juice that's gone off.