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‘There’s been a steady rise guided by people who like wine rather than people who like buying wine,’ says David Elswood, who is rejoicing that the market is back as it should be: ‘strong, steady and a reliable place to invest.’ He joined Christie’s in 1985 and has held the role of International Head of Wine Sales and Principal Auctioneer since 2003. Unsurprisingly, he spends his life drinking ‘rare, exciting and exceedingly valuable wine’ — currently favouring old port ‘which is fantastically rewarding and financially not so scary’. The premium at auction is on the old and the rare. ‘If you have 1795 Madeira, of which there will only be a few dozen left in the world, you can’t put a price on it.’

David Elswood