This is a collaborative post.
Whether you want to learn more about how wines age and witness their progress, invest or are looking for a store of value, or simply have fun, starting a wine collection can be a great way to do so. But in order for your wines to age gracefully and not end up squandering your collection, there are a few things you have to know first. The same is true if you’re trying to get the maximum return on your wines. In this article, we’re going to give you a few tips on how to start your wine collection the right way.
Don’t Budget For The Wines Only
If you’re thinking about collecting precious wines, then you have to factor in storage costs as well. If you don’t store your wines properly, they might not reach their full potential. This is where people like Octavian come in. You need to work with someone who’s specialised with fine wine storage instead of trying on your own. Not only will they store your bottles in the best conditions, but you’ll also be able to date them better and people will be more likely to pay more for a bottle that was stored professionally in a prestigious vault. So, make sure that you set money aside for long time storage.
If you’re new to this, it’s important to start small and learn the ropes. One of the reasons for this is that wine is one of the easiest valuables to counterfeit. Old bottles can be found everywhere, and someone without the proper knowledge could easily be duped. That’s also why you should keep all pertinent documentation about any wine you buy, whether it’s an original auction text, receipt, or even the card of the person who sold it to you. At first, I suggest you look at collector groups in your area. Local auctions are also a good place to start. You shouldn’t be focusing on finding rare gems there; just know what a good deal looks like when you see one.
Know Your Real Intentions
If you’re a genuine foodie and want to collect for the pure joy of it, don’t fall for trendy wines and make sure to buy what you like first and foremost. Collect out of passion. Trends may come and go and you might get lucky with one over time, but ultimately, you’ll have more fun collecting wines you actually enjoy.
However, if you’re doing this as a long time investment, you have to do a lot more research. You should have a clear time frame of how long you intend to wait until cashing in. You should also understand which wines will be more in demand and which ones are in high demand now. Understand the story behind different wines, vineyards, and grapes so you can understand how wines are valued. Take this as seriously as any other type of investment and understand the rules of the market before you spend a penny.
Wine collecting can be a fun hobby and a great investment for the future. If you manage to follow our few simple tips, you should be able to fetch the most out of your collection and help your wines fully develop as they should.