It might be time to check your cellar. Investing in wine is a serious business and you may just have that elusive bottle of Penfolds Grange hiding in the corner. If you are new to the idea of investing in wines, you may be surprised to know that certain brands and vintages sell for tens of thousands of dollars per bottle. Quite often the bottle may only be half full and not in perfect condition either.
Certain factors determine the value of the item including year of manufacture, limited editions, special signings and presentation cases to name a few. You are not limited to a particular type of wine if you choose to invest in wines. All types such as, port, sparkling wine, red and white wine, muscat and champagne are all readily available as an investment.
As a beginner you must be aware that as with other types of investments, there may be pitfalls and it does require time and money. The rewards can be personally satisfying and profitable though. To begin it you will need to learn about market trends and pricing. This can be done by building good relationships with quality auction houses and retailers. Learning about wine is important so join a wine club, visit wineries and enroll in a course or two. Join or start a tasting group (this is where you can tipple), ask questions, learn from each other and taste, taste, taste.
Not every wine you buy will be a winner and there will be duds, just like those penny stocks in the share market that don’t perform. Wine investment is not a short term strategy so be patient. Like the share market you need to buy low and sell high. At the same time it is like the property market, the price is determined by supply and demand.
Before you run off to check your cellar, remember that to get top dollar prices you will need to keep them in near perfect condition. Good luck and happy tasting.
Source by Danielle R
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