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Wednesday, May 14, 2008

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A cautionary tale of wine and avarice

A rare vintage ages in a cellar.

In his new book "The Billionaire's Vinegar," Ben Wallace guides his readers into the shady, ultra-expensive world of vintage wines, where frauds expertly replicate rare bottles and "buyers beware" takes on a whole new meaning.

A rare vintage ages in a cellar. (Martin Bernetti/AFP/Getty Images)

More on Bookshelf

KAI RYSSDAL: If you swing by the store tonight on the way home and plunk down $10 or $15 for a bottle of wine to have with dinner, you can be reasonably sure you'll get what the label says it is. But the risk of getting some fraud along with your wine rises with the price tag.

So imagine the dastardly possibilities with a single bottle that sold for $156,000 -- a 1787 Chateau Laffite that may or may not have belonged to Thomas Jefferson. Ben Wallace tells the story in his new book, "The Billionaire's Vinegar."

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Marketplace Confessional

"Will makes a great argument. The hostile reception, as indicated by the comments, should be unsurprising. If people actually understood how much immigration has historically benefited us then we wouldn't have the type of protectionist immigration laws we have. If the borders were opened one might see a drop in wages, but considering there would be a correlative drop in prices, it's doubtful there would be an overall harm and most likely considerable benefit..."

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