It was the most expensive bottle of wine ever sold. In 1985, at a heated auction by Christie’s of London, a 1787 bottle of Château Lafite Bordeaux—one of a cache of bottles unearthed in a bricked-up Paris cellar and supposedly owned by Thomas Jefferson—went for $156,000 to a member of the Forbes family. The discoverer of the bottle was pop-band manager turned wine collector Hardy Rodenstock, who had a knack for finding extremely old and exquisite wines.

But rumors about the bottle soon arose. Why wouldn’t Rodenstock reveal the exact location where it had been found? Was it part of a smuggled Nazi hoard? Or did his reticence conceal an even darker secret? It would take more than two decades for those questions to be answered and involve a gallery of intriguing players—among them Michael Broadbent, the bicycle-riding British auctioneer who speaks of wines as if they are women and staked his reputation on the record-setting sale; Serena Sutcliffe, Broadbent’s elegant archrival, whose palate is covered by a hefty insurance policy; and Bill Koch, the extravagant Florida tycoon bent on exposing the truth about Rodenstock.

Pursuing the story from Monticello to London to Zurich to Munich and beyond, Benjamin Wallace also offers a mesmerizing history of wine, complete with vivid accounts of subterranean European laboratories where old vintages are dated and of Jefferson’s colorful, wine-soaked days in France, where he...

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