Eldens

It’s easy to dismiss fine wine collecting as a hobby for the super-rich, especially when you hear the headline prices that rare vintage bottles sell for at auction. This month, Christie’s sold a collection of Domaine Ponsot, achieving a total of £1.2 million. At the sale, a single magnum of Clos de la Roche 1959 fetched over £31,000. But don’t be disheartened; record breakers indicate a buoyant market, into which any savvy investor can enter.

How to start your fine wine collection

Set your budget

It pays to have a plan, and the first part of that plan is setting a realistic budget. Estimate how much you are able to invest on a monthly basis and remember to factor in additional costs. When you invest in wine, you’ll also need to invest in documentation, security, insurance and proper storage (see our tips on storage below).

Follow your tastebuds – not trends

Trends will come and go, and prices will fluctuate over time, so focus on buying what you love. This approach is advantageous when you’re starting out, and when you come to think about selling. Starting a wine collection need not be intimidating. Begin by identifying the wines that you love now, then learn about the better versions of those types. Building a collection that reflects your tastes will also result in it being a more interesting, and therefore valuable, collection to potential buyers in the future.

Do your research

For collectors and people in the trade, wine is their passion. Seek out the enthusiasts, whether that’s in your local wine shop, restaurants or wine clubs and you’ll likely uncover a world of knowledge. It’s also important to conduct your own background research before investing. Find out everything you can about the people and places producing your wine. And always try before you buy: purchase a bottle and taste it before you invest in a case.

Documentation, documentation, documentation

Keep all documentation relating to your wine, from the original receipt to the card of the person who sold it to you. Ensure you document the conditions of how the wine was purchased, shipped to you, and stored. The more documentation you have, the more protected you are from being duped (wine is one of the easiest collectables to fake), and the easier you’ll find it to resell in the future. It’s also helpful to think about fine wine in the same terms as fine art; it’s the provenance behind the collection that makes it valuable. Documentation helps trace a wine’s journey and tell its story.

Keep track of your collection

When building a wine collection, it’s best to set good habits at the beginning, rather than trying to impose order once you’ve lost track of what you have. Keep an inventory, starting with the first bottle and continuing with each new purpose. Keep notes yourself or use an online subscription service. 

How to store fine wine

To get the best from your fine wine, and to protect your investment, it’s imperative that wine is stored in the right environment. Fine wine should be stored:

On its side
Storing bottles on their side keeps the liquid up against the cork, which stops it drying out. Store it upright and eventually the cork will dry, shrink and no longer act as an airtight seal, meaning oxygen can creep into the bottle and spoil the wine.

At (roughly) the right temperature
Wine does not need to be stored at an exact temperature, but around 10-15 degrees is ideal. What’s really important is that you avoid anywhere with a risk of fluctuating temperatures. If wine gets to freezing point, it can force the cork out of the bottle neck; if it gets too hot, the colour and clarity can be compromised.

Away from light
Most wine bottles are made from tinted glass to protect it from sunlight, which breaks down the antioxidants that keep the wine from oxidising. The glass doesn’t offer complete protection though, so it’s important to keep the bottles away from sunlight, and the UV rays that degrade and prematurely age wine. Light from household bulbs is less damaging but should still be avoided as it can fade bottle labels, negatively impacting resell value.

At the right humidity
The optimal humidity for wine is around 70%. If the space isn’t humid enough, the cork could dry out; if it’s too humid, mould could damage the label. Fortunately, it’s relatively easy to control humidity: add a bowl of water to the space if it’s too dry or introduce a dehumidifier if it’s too damp.

In its original case
Wherever possible, store the wine in its original case: it’ll protect the bottles and help when you come to resell. If you’re storing wine for up to a few years, it’s possible to create a good enough environment at home. If you have a dark, not-too-damp cellar, that’s ideal, but if not you can create one. Invest in a ‘cellar conditioner’, which turns a correctly insulated room into a functioning wine cellar, or in a ‘wine cabinet’, which keeps wine at the right temperature and humidity. If you have wines that will benefit from long-term aging (and not all will), then it’s worth looking into professional storage.