The wine trade is moving faster than ever. Investors all over the world, from China to the USA, have recognized the financial invulnerability of rare wine, and they’ve started to buy up more and more off the market. Fraudsters are realizing how easy it is to con people with fake labels and bottles, and they’re having greater success. This is partly because the hobby is attracting more and more newcomers.
However, all this activity only further secures the value of fine wine because, unlike many other products, the grapes are grown on historic vineyards that are finite in size. This means that when the amount of people trying to buy a particular brand doubles, the vineyards can’t double in size to accommodate the demand. With wine becoming ever more valuable it’s becoming increasingly sought after by investors, so if you want to begin your own collection then you need to know what you’re doing from the start. Check out these three top tips for collecting fine wine.
Make Sure You Can Trust the Seller
Be careful about who you trust, because so many people will be trying to defraud you, particularly at auctions or online. They might be fake labels or the wine might be genuine but corked or stored at an incorrect temperature. However, there are ways to pick up good deals. Many chateaus will only sell directly from their establishment to avoid fraud, which means that you can trust the wine, and if you buy by the case rather than by the bottle this could be the safest way to get a good deal. You can also buy end-of-vintage wine, but again you can’t guarantee the quality of it.
Have an Answer to the Problem of Storage
Many wine collectors will advise building your own storage solution. This can be done by either converting your cellar or repurposing a closet in the coldest corner of your house. The problem is that it’s difficult and often expensive to bring a room to the correct temperature and it’s even more difficult to keep the temperature constant unless it’s purpose built. If you save a lot of money on creating your own storage solution then you could lose just as much in damage to your collection. It might be wiser for you to get professional help when it comes to fine wine storage, particularly if this is also a financial investment for you. Research the best storage facilities such as Octavian Vaults, you do not want to lose your investment through poor choices that you make with its storage.
Learn to Enjoy while Enjoying What You Learn
Wine collecting is a historic hobby, but it’s also an interest that includes almost every subject you can think of. There’s the science of the taste, the geography of the vineyards, the economics of investment, and there’s so much more to it. This should bring you some solace if you’re a beginner, because there’s more to learn than anyone possibly could in one lifetime, so even if somebody seems like the most knowledgeable person in the world there’s just as much that they don’t know. The important thing is that you enjoy learning about the culture of wine almost as much as you enjoy drinking it.