The Liv-ex Fine Wine 50 Index hit its low point for 2012 on 13th November, and since then has risen by 6.2%. Yet as the chart above shows, the severity of this growth is dependent on which currency you are trading in. With the Yen weakening, the Japanese have seen the greatest gain – of 20% – in fine wine prices over the last two and a half months. For the Dollar and Sterling – which have weakened against the Euro – this increase is smaller, while in Euros, prices have barely risen at all. Such disparity leaves the question: has the price of wine really gone up, or has, in fact, the value of money merely gone down?