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Bull Market for Wine

New bidders and worldwide demand for top wines have energized auctions. Can the boom times survive economic uncertainty?

By Peter D. Meltzer

When the gavel came down on lot 150 at an Aulden Cellars-Sotheby's auction on Nov. 18, 2006, an audible gasp rose from the audience, followed by a burst of applause. An absentee bidder had paid a record.....

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