When talking about wine, most of us instantly picture a nice dinner table, the tall, fancy glasses filled with great wine that will keep the conversation, laughter and mood flowing, and food that makes you drool over. Mmm… if you’re even slightly as gourmand as I am, now you’re picturing this evening’s dinner at home with your family. Or loved one. Anyway, for most of us, wine is a pleasurable alcoholic beverage no heavy meal should go without. But, for a small portion of us oenophiles, wine is more than a beverage; it’s an asset. Yes, an asset which some people treat as commodity, or in simpler terms, they’re trading it and earning money. There’s a good reason to visit a wine auction! Besides the exclusivity that surrounds auctions of the type, you get to buy yourself a bottle of amazing wine and store it on your wine shelves. So what if you’re not going to be drinking it? After all, wines you’d get on an auction are more than just wines; they’re collectible wines – huge difference. Prepare yourself before you put on your best suit and take a seat on a wine auction:
Theory Matters Here
It’s not enough that you heard of a wine auction and decided you’re going to be part of the entire event and spend a lot of money on a very expensive bottle. That’s reckless and stupid, and if you wanted to present yourself as the hot-shot-wine-auction guy, let me break it down for you: you’re making a fool of yourself. Instead, do your homework: sit in front of your computer and start researching wines, regions, characteristics and reviews. For example, the best wines come from France and its famous wine producing regions like Bordeaux, Champagne, Burgundy and Rhone. Wines from Tuscany in Italy are also amazing. Maybe you haven’t had the chance to actually try all of them, but knowing at least the regions they come from is a good start.
Be Prepared to Open the Wallet For This One
Owning and storing expensive collectibles is a pricey hobby, which means you can’t do it if you don’t have enough money to invest in. The expenses for preparing a cellar and filling it with all the good stuff is large, so be ready to spend only what you’re willing to lose. Think $500 starting price for a good bottle and about $15000 lump sum to completely equip your wine cellar.
Sometimes It’s Good to Hire an Expert
You don’t need to let a wealth manager decide everything for you, but asking for some expert opinion on which bottle is expected to gain on popularity and therefore on price, is always a good idea. Think of it like going to an investment bank and asking for advice on which stock to buy at the stock exchange. An expert will be able to share with you his/hers suggestions on good, quality wines on which you can earn – those are the bottles you should have on your wine shelves. Having the right bottle in your possession in the right moment can mean ka-ching for you!