We discuss a new mechanism of drop coarsening due to coalescence only,
which describes the late stages of phase separation in fluids. Depend
ing on the volume fraction of the minority phase, we identify two diff
erent regimes of growth, where the drops are interconnected and their
characteristic size grows linearly with time, and where the spherical
drops are disconnected and the growth follows (time)(1/3). The transit
ion between the two regimes is sharp and occurs at a well defined volu
me fraction of order 30%.