Wine collecting more profitable than stock market
By Walter Hamilton, Los Angeles Times
When Ken Bleifer started collecting wine 50 years ago, he didn’t think of it as an investment.
He simply loved wine and, like many connoisseurs, ended up buying much more than he could ever drink. So about 10 years ago, he began selling a portion of the 4,000 bottles stashed in his wine cellar.
Bleifer, a Venice nephrologist, unloaded a few cases at a time. Two bottles of Burgundy purchased for $80 in 1983 fetched $4,700 in 2006.
Bleifer won’t disclose his total profit other than to estimate it at several hundred thousand dollars.