(Bloomberg) - Billionaire collector William Koch lost his bid to reinstate a lawsuit against Christie’s International Plc that claimed the auction house “induced” him to buy what he said was counterfeit wine. The U.S. Court of Appeals in Manhattan today upheld a 2011 ruling by U.S. District Judge Barbara Jones dismissing Koch’s suit after finding that he waited too long to sue. The appeals court agreed that the statute of limitations had expired. “For wine, timing is critical,” wrote U.S. District Judge John Koeltl, who was sitting on the appeals court for the case. “The same is true for causes of action.”