Investing in fine wine can be one of the most fun and exciting investments you will ever make, but it will also teach you patience. That’s because one of the first prerequisites in successful investment is the ability to wait. Unlike other types of alternative investments, wine does not offer a quick buck or a fast turnaround. According to your portfolio needs, choose a wine that will come of age during a year you will be ready to sell. For instance, En premier wines produced in Bordeaux have a minimum turnaround time of five years, making them a perfect choice for a short-term portfolio.
Once you have selected the best wine for your purposes, your next prerequisite should be proper storage in a licensed facility that can be documented at sale time. Temperature control, which is professionally regulated, is vital when it comes time to sell for the top dollar.
Wine For Sale in Dijon
Speaking of French wine, many cities in that country keep their own wine cellars stocked with local vintage. They break into their own stock when wooing official guests, hosting prestigious receptions or bestowing memorable gifts. We can only imagine that each bottle was stored in that city’s climate-controlled conditions. Thousands of those bottles in Dijon were recently auctioned off to make room for more and to rotate the stock. During storage for an undisclosed number of years, some of the wines had outrageously increased in value. The total receipts of the day came to some $200,000, but one of those bottles, a 1999 Vosne-Romanée Cros Parantoux, brought in $6,500. Proceeds went to the “social action” committee.
Officials in Dijon may have taken the idea from Paris, where 4,680 bottles of French wine were auctioned in 2006. Half of the proceeds, which totaled more than $1 million, were donated to a special anti-alcoholism fund.