Credit crisis? What crisis?

While the global credit crunch has forced many consumers to curtail their spending, one Beijing-based billionaire has splashed out a record $500,000 on 27 bottles of red wine.

The anonymous Chinese entrepreneur bought a mix of vintages of Romanee Conti, a Burgundy wine and considered to be among the world's most exclusive with only 450 cases produced each year.

The price is the highest that has ever been achieved for a single lot at auction.

And the best part of the story? Apaprently, he hasn't bought the wine as an investment - he's bought it to drink!