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GuideFine wine and spirits

Field guide: fine wine and spirits

Why our floor means cellars, runs and casks rather than bottles, how we guard against forgery, and the producers and distilleries we follow.

Artists, makers and objects named here illustrate the market we follow and what meets our criteria. They are not a list of Caldrion’s holdings or acquisitions. Price bands are rough, based on public auction results through mid-2026; private-treaty prices and today’s market can differ, so treat them as orientation, not valuations.

Few single bottles clear $250K, so in practice this category means cellars, multi-vintage runs, whole casks or the occasional trophy lot.

Where diligence centers

Provenance (bought direct from the producer, kept in bonded storage, temperature records), fill levels, and capsules and labels. Forgery is a serious risk: Rudy Kurniawan was convicted in 2013 of faking rare Burgundy, including vintages a producer never made.

The market we follow

  • Domaine de la Romanée-Conti, Romanée-Conti. A 1.8-hectare vineyard producing a few hundred cases a year. A case of a top recent vintage sits near or above the floor. A single 1945 bottle sold for $558K in 2018.
  • Henri Jayer, Cros Parantoux (and other Jayer wines). Supply is finite since his death in 2006, and these were among Kurniawan’s favorite targets for forgery.
  • Pétrus. Long runs of consecutive vintages, ideally bought direct from the château or kept in bonded storage.
  • Domaine Leroy and Georges Roumier, Musigny. Tiny production, with prices of five figures per bottle.
  • The Macallan 1926 60-year-old. About 40 bottles exist with various artist labels. A Valerio Adami–label bottle sold for about $2.7M in 2023.
  • Yamazaki 55 (100 bottles released in 2020). One sold for around $800K at auction shortly after release.
  • Karuizawa. The distillery closed in 2000, so supply is finite. Cask-strength bottles and whole casks fit.
  • Whole-cask whisky purchases. These have reportedly reached eight figures, such as a 1975 Ardbeg cask in 2022.

How we buy

We consider whole cellars and multi-vintage runs, including cellars placed as part of an estate. We arrange inspection, transport and bonded or climate-controlled storage, and we keep a complete record of every bottle’s path.

If you own or represent a work or object of this kind, see our criteria and what to send. We read every submission and aim to reply within a few business days of receiving a complete package, whether or not we proceed.

The field guide

  1. What “A-grade” means, and where our criteria bite
  2. Post-war and contemporary masters
  3. Established mid-career artists
  4. Collector automobiles
  5. Watches
  6. Fine wine and spirits
  7. Emerging patronage

This guide reflects Caldrion’s views as of November 2026. It is not an offer of securities, investment advice or a valuation.

Insights

More to read.

Guide

Field guide: emerging patronage

Where we would buy at primary prices, the artist profile we look for, how gallery access works, and why resale discipline matters after the 2023–24 correction.

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Guide

Field guide: watches

Why our floor makes this a vintage category, where diligence centers, and the Patek Philippe, Rolex and independent references we follow.

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Guide

Field guide: collector automobiles

What preservation-class means, and the Ferrari, Porsche and Mercedes-Benz models that clear our floor, with production numbers and rough price bands.

Caldrion Art & Collectibles