Fine Wine is becoming ever more popular. Whether it is celebrities making there versions or the wine makers of Bordeaux and the historically rich vines they hold producing every better wines, one thing remains. Fine Wine is becoming more main stream. In recent times the Wine market has seen ups and downs the main things to focus on is how to stay safe in the market.
1. Do you checks - look at the market and the company you are buying. You are not ties to a company once you have bought your wine but still carry out all of the relevant checks until you are satisfied you are with the right company.
2. Have your own account - In the UK the best way to store your wine is with your own account at a bonded warehouse. Accounts are free to set up and you are charged on a case basis, typical below £15 per case per year. This also keeps you wine insured and kept in the best condition for the life of the wine.
3. Buy the best you can afford - Buying 1 case of the very best wine is a basic rule for the typical investor of fine wine. Yes you may be able to buy 10 cases of a lower graded wine, and yes it may serve you well but always remember the storage costs will impact your profit percentage.
4. Have an exit strategy - Know what you are buying and how long you aim to hold for. A typical rule of thumb is a 3yr to 5yr hold. Many people will hold for a lot longer. Usually the longer the better
5. Do not confuse drinking and investing - Buying what you like to drink does not guarantee success. Buy with logic and research for the best results.