Erasing two years of decline and then some, the global wine auction market has rebounded in a big way. In the second half of 2010, the Wine Spectator Auction Index rose to 338.73, the highest point since its inception in 1995. The 8.12 percent increase over first-half levels reflects both a rise in investor confidence (the Dow Jones gained 19 percent during the same period) and the escalating presence of Asian buyers pursuing cellar-worthy wine. Wine Spectator auction correspondent Peter D. Meltzer reports.
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