22 Apr Starting on a Wine Collection? Here are some Tips for You
If you are planning on starting on a wine collection, you are sure to be curious about the different types of wines that can and can’t, should and shouldn’t be cellared, the right storage conditions etc. Wine collection is a serious hobby and since many wines represent a significant investment, it makes sense to research all these aspects before taking the plunge, so to speak.
Tips to follow
Here are a few tips for starting a wine collection to help you start off on the right foot:
#1 It’s important to have a disposable income
No matter how much you love wines, do not attempt to start on a collection of vintages, if you are living on a modest income. The thing to keep in view here is that the cost of your collection doesn’t stop at that initial purchase you make. You would also have to factor in the cost of appropriate storage, security, insurance (if you choose to have it) etc., and this can almost double the cost of the actual wine. This is why having a disposable income becomes important when you are collecting wines.
#2 Keep careful track of all the wines you already have
The basic things you need to know are the number of bottles you have, which wines you have in stock and exactly where they are in your current storage. You may be relieved to hear that there is actually software for this too, if that’s what you prefer to use. Maintain a diary of sorts that has detailed tasting notes of the different wines you have consumed from your collection.
#3 Consider investing in a cellar
There are a number of wine storage options to choose from such as wine fridges, coolers and temperature-controlled lofts etc. However, when it comes to storing your precious reds, whites and bubblies in the right environment and in a safe manner, nothing beats a wine cellar installation.
Don’t forget that vintages need very delicate handling and a custom-made wine cellar in your basement is an excellent place to store wines securely. If there is no place for a wine cellar in your home, you might want to consider storing your wines at a well-established wine storage facility.
#4 Save all wine-related documentation
This is something every serious wine collector should unfailingly do. You should carefully keep the original purchase receipt; if you have purchased a wine at an auction; maintain the original auction text as well as the card of the person you purchased the wine from, etc. Carefully catalogue all this information and store it. Ensure that you have the original box the wine came in too.
#5 Routine wine collection appraisal
The volatility in the wine collector markets tends to be very high. This makes it important to maintain a record of the value of your wines, over time and you should get your wines regularly appraised. The other aspect is that at times, accidents do occur and it’s vital that you have proper documentation of the wines and their recent values – this will ease the insurance claiming process (in case it’s ever required).
Be ambitious, but start small
The other important aspect is that it’s best not to handle your wines too much. Don’t ship them, unless that’s really necessary and even though you may be tempted to show-off your collection to your guests, it’s best not to let them touch the wines. Don’t attempt to start your wine collection at a blue chip level.
Start small, get advice from other seasoned collectors and wine lovers and join wine collector groups. This will give you some valuable insights into the nuances of wine collecting. For any information about contemporary wine cellars and cellaring wine, call Signature Cellars at 02 9340 7515. Alternatively, simply use this contact form to connect with us and we will get back to you shortly.
Thanks for reading,
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