Wine - Collecting

Collecting

See also: Aging of wine, Investment wine, and Storage of wine

Outstanding vintages from the best vineyards may sell for thousands of dollars per bottle, though the broader term "fine wine" covers those typically retailing in excess of US$30–50. "Investment wines" are considered by some to be Veblen goods: those for which demand increases rather than decreases as their prices rise. The most common wines purchased for investment include those from Bordeaux and Burgundy; cult wines from Europe and elsewhere; and Vintage port. Characteristics of highly collectible wines include:

  1. A proven track record of holding well over time
  2. A drinking-window plateau (i.e., the period for maturity and approachability) that is many years long
  3. A consensus among experts as to the quality of the wines
  4. Rigorous production methods at every stage, including grape selection and appropriate barrel aging

Investment in fine wine has attracted those who take advantage of their victims' relative ignorance of this wine market sector. Such wine fraudsters often profit by charging excessively high prices for off-vintage or lower-status wines from well-known wine regions, while claiming that they are offering a sound investment unaffected by economic cycles. As with any investment, thorough research is essential to making an informed decision.

Read more about this topic:  Wine

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Famous quotes containing the word collecting:

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