If you’re like most wine enthusiasts, you’ve probably dreamed about building your wine collection. It’s a great way to expand your knowledge of different styles and vintages, while also curating a portfolio of wines that are perfect for your personal taste. In this blog post, we’ll give you some tips on how to get started building your wine collection. We’ll also discuss some things to keep in mind when selecting wines for your collection. So, if you’re ready to take the next step in your wine journey, read on!
The Difference Between Buying and Collecting
If you are new to wine collection or are thinking of getting into it, you might be wondering what the difference is between buying wine and collecting wine. Well, the difference is quite simple; when you buy wine, you are doing this intending to consume it within a certain period.
When you are collecting wine, on the other hand, you are doing so with the knowledge that the wine you purchase will increase in value over a certain period, and more importantly, you can make a profit by selling these wines again. The best way to start your wine collection is to visit this page and start with the best and highest quality mixed wine cases. Of course, nothing is stopping you from occasionally sampling your collection on special occasions.
What to Consider When Collecting Wine
If you are new to wine collection, chances are you are most likely confused about which wines to buy, when to buy them, and why to buy those specific ones. This is completely normal, and there are a few things that you can consider when making these choices. A few things to consider would be:
- The price: When it comes to the price of wine, you should try to understand what makes some bottles more expensive than others. For example, one contributing factor to the cost of wine is how much it costs to make it (the cost of labor, grapes used, marketing costs, and what was used to grow it). Another factor is where the wine comes from, the history of the wine, or even how readily available it is.
- Pedigree: When collecting wine, you should try to find out where it was stored, how it was shipped, as well as the genetic characteristics of the wine.
- The lifespan and cellaring period: The most important information to acquire would be how long you can keep the wine before it needs to be consumed, as well as how long it should be cellared for.
Set a Budget
One of the most important things you will need to do to grow a fantastic wine collection would be to set a realistic budget that allows you to make a profit. For example, you might think that buying an extremely expensive bottle of wine, or a handful of very expensive wines will allow you to turn a quick profit; however, what happens if you are unable to sell them?
Instead, your budget should allow you to buy wines that range anywhere from $200 to $2,000 as a starting point, and you should try to collect between 10 to 50 bottles when first starting. This gives you a wide variety and ensures that at least half of the bottles will sell. Remember, you need to continue turning a profit. Also, consider how long you’ll need to keep the wines before they increase in value.
Appraisal and Insurance
Another incredibly important aspect of growing a wine collection is ensuring that the wines you are selling are legit and that you are selling the wines you buy for the most that they are worth. The best way to do this would be to get the wines appraised as soon as you buy them, so you know exactly how much you can make from them.
In addition to this, you need to get your wines insured. The last thing that you want to happen is for your wines to be stolen or destroyed in a natural disaster and lose everything. Thankfully the process for this is rather simple and easy. You should also get shipping insurance in case any get damaged while being shipped, since this way you can at least get money back for the wines you won’t be able to sell.