$600,000 Worth Of Wine Was Stolen In A Wild LA Heist
While it might sound like a scene from "Mission Impossible," a brazen burglary at a Lincoln Fine Wines in Venice, California wasn't fictional. As the Los Angeles Times reported on July 4, an alleged thief stole approximately $600,000 in wine during an overnight heist. It appears that the individual entered the building by cutting a hole through the roof. During a four-hour period, a large quantity of high-end wine bottles was taken. The store's owner, Nazmul Haque, acknowledged that 10 to 15 years worth of wine-collecting work was eliminated in one devastating act.
Store manager Nick Martinelle told CNN that it appears the thief targeted a particular cellar area. All of the French wines, including some in drawers, were taken. The cellar area did not have security cameras. Some are speculating that the thief might have inside knowledge of the store's layout, which helped the person focus on particular bottles.
It is believed that 75% of the store's inventory was stolen. Martinelle said that some of the bottles are irreplaceable. From Giuseppe Quintarelli wine to a bottle of Chateau Petrus 2016, many of the bottles retailed in the thousands of dollars and are highly sought-after. The store is compiling an inventory list, potentially to recover re-sold bottles.
Although authorities have shared surveillance footage of the alleged criminal and getaway truck, the Los Angeles Police Department is still investigating. Haque told the Santa Monica Daily Press that he is offering a $10,000 reward for information that leads to the thief's capture.
Has wine collecting caused a spike in wine heists?
When $600,000 worth of wine was stolen in Venice, California, the exuberant dollar amount might have made the casual wine drinker swallow a little harder. Although some people might splurge on a $25 bottle of wine, wine collecting has become a larger market for both sellers and buyers. Lincoln Fine Wines and its owner, Nazmul Haque, touted a robust collection, which included bottles that cost more than many people's monthly income. While the value might be impressive, it is the passion that drives some people to this hobby.
As wine collecting has risen in popularity, Forbes spoke with Laura Doyle, Chubb's Art, Jewelry and Valuable Collections Manager. While wine collectors are well-informed, she asserted that the choice stems from a love of wine. Some bottles are purchased and held for long-term investment while others are enjoyed shortly after being purchased. The dollar spent is another version of a status symbol.
Given the popularity and the dollar amounts involved in wine collecting, wine heists have risen over the past several years. In 2022, two thieves walked away with $1.6 million in rare wines from a Spanish hotel. French police recovered $6 million in stolen wine in 2020, including bottles of the world's most expensive wine. Although these stories might sound like a plot from a Hollywood blockbuster, wine collectors have made highly sought after bottles a status symbol and that bottle has become a target, just like a Birkin or a Banksy.