The way you choose to buy wine and the wines you select will depend on your reasons for collecting wine. Ask yourself why you’re interested in collecting wine. Here are some common reasons.
Wine for Personal Consumption
Wine collectors usually start their collection so they can have a few bottles on hand to drink themselves. You’ll save time by not having to visit the wine shop as you will always have wine that suits your taste. You may also enjoy a wine that’s not easily available in shops. You may need to keep more than one bottle of wine on hand in this situation.
A caveat to collecting wine for your consumption is that the taste of a person may change. Your preference may change over months or years. One of the risks of collecting wine is you may end up with a large collection of bottles you don’t like. You can try to sell the wine through an online auction house if this happens.
Wine for Sharing
You may collect wine to share with family and friends if you enjoy entertaining or if you are known to bring great wines instead of a side dish to dinner parties. Wine can bring people together, after all!
You’ll have a wide variety of wines to choose from, whether it is for an anniversary, graduation, wedding, birthday, job promotion, or retirement. Wine is a wonderful gift that people love!
Wine Collecting Investment
Some investors diversify their portfolios with wine due to the market instability. Provenance is a major consideration when purchasing these wines. Keep receipts for wine purchases, and keep track of how wines are stored.
We recommend that you follow the international auction house Sotheby’s to stay up-to-date on the best wines to invest in.
You can also read about wine investment in this helpful eBook, Investing in Fine Wine. This book discusses strategies for buying fine wine, selling it and collecting and storing it. The narrative approach offers a glimpse into the world of wine trading.
Decide on a focus & strategy for your wine collection
Your Wine Collection: Go Wide
Some wine collectors want to collect wines that are representative of different styles or regions. Two resources are recommended if this approach appeals to you.
We love Elizabeth Schneider’s wine for normal people. This down-to-earth, no-nonsense guide gives a comprehensive introduction to the wine world. This book will introduce you to wine tasting, wine regions, and winemaking, as well as wine etiquette.
Collect aged wines
Enjoying wine that has spent time in the bottle is one of the most popular reasons to collect wine.
Not everyone enjoys the taste of aged wine. Fruit aromas and flavors in wines change as they age. In old wines, secondary and tertiary flavors and aromas develop.
You can ask to sample aged wines at a local winery, bottle shop, or restaurant if there is a tasting or upcoming event.
Collect to support your favorite winery.
Some people collect wine to help their favorite winery. Consider joining a Wine Club if this appeals to your tastes. It’s like buying season tickets for your favorite sports team. ).
Collect wine to have on hand for 0-5 years or 5 -50 Years
The trend of collecting wine for a future date is on the decline. Today’s wines tend to be intended for immediate consumption.
Those who are passionate about wine can still enjoy collecting wine in the future. Some wines are made to be consumed within the next five years or immediately, while others are meant for 20-30 years.
A knowledgeable wine merchant will tell you if the wine you like falls into one of the following categories: drink it now, store it for a short time, or keep it for several years.
What is Your wine storage need?
Despite the fact that wine cooling technology has advanced, it is still important to have a plan for storing your wine.
You may not need a wine storage cabinet if you plan to drink your wines within the next year, your storage area isn’t exposed to vibration or light, and you maintain a temperature of 72 degrees F.
Wine cabinets can range in price from $200 for a small wine refrigerator to over $1000 for a wine maturation cabinet like the EuroCave. Costs for wine cabinets vary greatly, from $200 for a smaller wine refrigerator up to $1000 for the EuroCave.
You can also find temperature- and humidity-controlled wine storage at Extra Storage or these storage locations located in the USA. Contact your local wine shop to ask for recommendations on wine storage.
Manage Your Wine Inventory
Make a spreadsheet or use a wine-tracking app.
A template in Google Sheets or Excel is a simple and inexpensive way to accomplish this.
Cellar Tracker is an online tool that we use to manage our wine collection. This tool is great because it has almost all the information you need, such as where and on which shelf your wine is located in your cabinet or offsite storage. These crowd-sourced prices can also be useful for anyone interested in tracking the sale price or comparing tasting notes of other people’s wines as they age.
Establish A Drinking Schedule As You Accumulate Bottles
As your wine collection increases, you might encounter some pitfalls. Collectors often find themselves in a situation where they have saved wine for special occasions only to discover that it is no longer good.
If you’re a wine collector, it is a good idea for you to monitor the window of drinkability. As a general rule, we use the information available on websites and apps like Cellar Tracker to determine when a wine is ready to drink.
Learn the Value of Your Wine
Online, you can find a variety of wine buyers who will give you a free evaluation of the wine you are selling and then follow up to see if you want to sell some of it.
If you want to research wine prices yourself, we recommend Wine Searcher or Cellar Tracker.
Wine Searcher can tell you how much your wine sells for in the area. Say you’ve just finished a bottle of 2003 Auslese Riesling that was purchased in 2010. Wine Searcher will tell you how much that bottle is worth today, in case it’s something you would like to buy in the future. Cellar Tracker allows you to check what similar wines have sold at recent auctions.