Collecting wines is no longer a passion of the elite, as even regular consumers are embracing the trend. But building a collection of vintage wines requires a personal perspective. You may start collecting only for enjoyment, but it can soon become an investment worth a fortune. Whatever your intention is, you need to follow some basic rules while picking these bottles of luxury. Here is some expert advice for beginners who want to own the best in their collection.
There are no shortcuts to creating a wine collection because you will need to invest a lot. Assess your financial resources and ensure that you have enough disposable income to invest. Consider your budget and start small with affordable options. You can easily explore wine collector groups and local auctions rather than attending a blue-chip event. Researching wines and prices will give you a good start.
Don’t buy into the hype
As a newbie, it is easy to fall for trends. But it is the last thing you should do. Focus on your passion and stick to the wines you will want to own, store, and drink. Even if you have an investment mindset, it makes sense to follow the goal you start with. Discuss the trends with experts and peers, and you can decide whether it is worth following, or only a fad.
Look for a reliable storage facility
Wines are delicate and need to be handled and stored with care. Even the most expensive ones can go bad if you don’t store them at the right temperature. It is best to look for a reliable storage facility to keep your collection in perfect condition. Consider wine storage at The Lock Up if you are looking for state-of-the-art units that offer the best environment to preserve the flavor and aroma of your favorites. You get the self-storage option with convenient and flexible business hours.
Keep all documentation at hand
Luxury wines are precious assets, so you must preserve all the important documents. These include the original purchase receipt, auction text, and the contact information of the seller. Maintaining a record system with detailed information on each bottle in your collection along with the related documents is a good idea. You may want them later, perhaps while showcasing your collection in an auction.
Keep track of your collection
If you are passionate about wines, you will want to collect for years and probably amass an impressive collection over time. At times, you may pick a bottle to taste or gift as well. It is vital to maintain records so that you have an idea of what you own. You can also opt for periodic appraisals to estimate the value of your collection. Also, pay attention to the average lifespan of wines and what makes them age-worthy.
Collecting wines may require a hefty investment, but it is worthwhile as you can build a fortune with your collection. Just look for quality instead of numbers, and you will have an incredible one to flaunt.