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Koch settles out of court with auction house

Billionaire wine collector Bill Koch has settled lawsuits with Zachys Wine Auctions and the Chicago Wine Company, out of court. Koch had claimed that some of the bottles he purchased in a 2005 Zachys auction that he thought to be rare Bordeaux wines, he later found to be fake. One of his notable purchases was a bottle bought for $100,000, presented by Chicago Wine as a 1787 Branne-Mouton formerly owned by Thomas Jefferson.

Zachys and Chicago Wine Company have also agreed to amend the small print ‘disclaimer’ language used in their auction catalogues but the terms of the settlements have not been published. Zachys said they were committed to preventing the sale of counterfeit wine and supported Bill Koch’s extensive efforts to rid the fine-wine market of counterfeiters. Koch has further cases outstanding against Christies and Acker Merrall and Condit.