LOS ANGELES: Wine cellars have been taking a hit from the global credit crisis and it isn't because the owners of rare bottles are drinking more -- it's because they have been selling to raise cash.

The selling started with mortgage brokers and has moved to Wall Street as owners turn their collections of coveted vintages into liquid assets.

"People need money. Even richer people need money sometimes," Vinfolio.com founder and Chief Executive Stephen Bachmann told reporters on Monday.

In the last few weeks, private collectors submitted offers to sell $10 million worth of wine to Vinfolio, a San Francisco-based company that buys and sells wine online. Normally the company has about $6 million offered to it.

Among the wines that that recently have come into Vinfolio's possession are a 6-liter Imperiale of 2003 Chateau Margaux that retails for almost $15,000 and a bottle of 1990 Romanee-Conti that lists for around $11,000.