Auctions: 1740 Canary & All That

London hasn't known such excitement since 1901, when Edward VII discovered that Queen Victoria had overstocked on fine sherry (he preferred champagne) and ordered 5,000 bottles from the royal cellar put up for auction. Reviving a pleasant pre-World War II custom, London's leading auction houses have recently added vintage wine to their stock in trade. It has turned out to be a bonanza. Before the year is out, Sotheby's and Christie's expect to move more than $1,000,000 in vintage wine, and prices for rare 100-and 200-year-old wines are breaking all known records....

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