TO GO WITH AFP STORY BY ANNA-KARIN LAMPOU This picture taken with a fisheye lens shows shows red wine bottles displayed in one of the government controlled Systembolaget liquor stores in downtown Stockholm on December 19, 2013. Systembolaget is the only retail store allowed to sell alcoholic beverages that contain more than 3.5 percent (by volume) alcohol. According to Systembolaget, it has a nationwide retail network of 422 stores and over 500 agents serving smaller communities. AFP PHOTO/JONATHAN NACKSTRAND (Photo credit should read JONATHAN NACKSTRAND/AFP/Getty Images)

Trade of the Day: Sell That Photograph, Buy Fine Wine

Mark Gilbert is a Bloomberg View columnist and a member of the Bloomberg View editorial board. He has worked at Bloomberg News since 1991, most recently as London bureau chief. He is the author of "Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable."
Read More.
a | A

A case of Chateau Petrus 2010 will set you back 21,854 pounds ($36,700), a drop of 15 percent from last year's high, Bloomberg News reported today. The Liv-ex Fine Wine 50 Index, on track for its ninth consecutive monthly decline, is down 5 percent this year and 37 percent below its 2011 peak.

Meantime in the world of fine art, Adam Sender, who closed his Exis Capital Management hedge fund earlier this year, just sold a photograph for a profit of almost 4,000 percent. Cindy Sherman's "Untitled #93" from the "Centerfolds" series sold at Sotheby's yesterday for $3.9 million, Bloomberg News reported. Sender paid $96,000 for it at Christie's in 1998. "It was a great sale," Sender told a Bloomberg reporter in an e-mail after the auction. Talk about understatement.

So the Trade of the Day is to sell that color photograph, and buy yourself some nice wine while prices are cheap.

This column does not necessarily reflect the opinion of Bloomberg View's editorial board or Bloomberg LP, its owners and investors.

To contact the author on this story:
Mark Gilbert at

To contact the editor on this story:
James Greiff at