If you are contemplating starting a wine collection but are not sure where to begin, continue reading. Wine collecting is not as simple as collecting stamps, stones, shoes, or bags. It is more like passion and love for wine. You have to be very keen and meticulous about all the details of the wines you are going to collect; otherwise, it would just be a waste of money, time, and effort.
Wine collection can also be an investment as a bottle could cost so much depending on its history and documentation details. For instance, in 2010, three bottles of 1869 Chateau Lafite-Rothschild were sold for $230,000 per bottle. In 2011, two bottles of champagne were found in a 17-year-old shipwreck. Both were then auctioned for about $78,000 each.
Pointers In Starting A Wine Collection:
The wine collection is not cheap! It is not for people who do not have money to spare. If you are still struggling with the mortgage and other bills, starting a wine collection is not advisable as it requires much spending. It doesn’t stop from buying the bottle. It demands proper storage, documentation, insurance, and security.
Choosing wine should come from its rarity, history, and significance. A bottle is valuable if it belongs to a historical event or if the wine was made in the year related to something significant. Its location also matters. For instance, it could be from a place where they produce quality wine such as Texas.
You should keep all the essential documentation of a bottle including the receipt if you bought it, the title text when you got it from an auction or anything that serves as proof of how you got it. Keeping the details and even the box is essential in any collection but wine especially.
Storage Or Cellar Matters
Every collection deserves proper safe storage, and for wine collection, it is much more than a cabinet or a wooden shelf as it could affect the condition and life of the wine. The ideal place to store wines is a cool and humid environment, detached, sealed, and secured. It is not advisable to keep your collection in the basement or in a place where it could be warm.
Every bottle should have a “baby book” where you will jot down every detail about it. The distinguishing marks on the bottle or anything worthy of knowing. Also, if you taste the wine, you should make some notes regarding the taste, the date, or whatever detail relevant to it.
Regular Appraisal Matters
It is essential that you’ll have your wines checked for a recent appraisal. It is crucial in the event of pursuing insurance following an accident such as fire or other calamities. You have to know and have a record of the appraisal recently made so that you would not have a hard time with the process.
Nowadays, it is simple to fake anything, and sadly many people are taking advantage of the passion of some people to earn money. It is crucial that you can distinguish a genuine old bottle with an old wine inside. Never jump into taking temptingly suspicious deals. Be knowledgeable about your chosen collection by doing some research and reading about other collectors’ experience.
Starting a wine collection is not an easy decision to make overnight. There are reminders that should be taken seriously to be successful in it. Wines seem to have a life, and you just don’t buy and stock them. You have to be very delicate, passionate, dedicated to giving them the treatment you would give to your children.