7 minute read
Building a wine collection
Wine expert Katherine Dart gives advice on collecting wine
Building a wine collection or having a wellstocked wine cellar can definitely bring joy and great satisfaction to any wine lover. There are various different reasons why someone may decide to collect wine. Some embark on this journey for investment, while others wish to have the bottles that bring them pleasure at their fingertips. Some people desire something tangible to pass on to their children, or to enjoy in their retirement. For many it can be a combination of all the above and more. If you are considering starting a collection, or wish to diversify or reassess the wine you currently own, I think there are a number of guiding principles that can inform and direct you in your endeavours.
Decide on goals and build a strategy
This first point may seem obvious, but it is so often overlooked; if you wish to create a collection that is coherent and meets your personal needs, you have to have a strategy. This is by no means set in stone and can be reviewed and tweaked as you progress, but starting with a clear vision of what you want to achieve, and how you wish to get there, is essential. I regularly see cellars that contain great wines, but they are variations on a theme. Therefore, they very often sit within the same drinking window and price bracket. Add to this that they are often bought at the top of the market, and the result is a collection that is limited in how it can work for you.
Know your budget
The next step in this journey is deciding your budget – broadly knowing what you wish to spend, how often and where you want to spend it, is a great way to focus your buying. It will enable you to assess all the offers and opportunities that come your way and prevent scatter gun purchasing. You will be more likely to select wines that will complement others in your collection and suit your goals. This budget does not have to enormous; you can start small and dip your toe in the water, slowly adding new discoveries. This is your collection and should contain wines, regions and varieties that you love.
Keep a record
From the outset it is important to keep a record of what you own and have it reviewed each year. This process enables you to see where drinking windows sit and, if relevant, how the wines are performing in a commercial context. This information will further inform your purchasing decisions and ensure that you have a clear picture of your overall collection. This is especially beneficial if your wines are split between bonded storage, merchants you have bought from and a home cellar. In addition, knowing the value of your collection is important for insurance purposes.
Drinking dates are important
When you narrow down your preferences you will naturally consider origin, varieties and colour. However, another element should be considered is when would you like to drink the wines. Ideally, your cellar will have wines that are ready to drink, some sitting within a later drinking window and, finally, those that are to keep. There are two more variables I regularly consider at this point, the first is the individual palate – how do you like your wines, young and fruity or more developed, for example? This factor will influence personal drinking windows. A wine that is perfect for one
person, may be far too young, or conversely, over the hill, for another. Secondly, wines in each broad category will change status each year. Thus, the importance of reviews and keeping records.
Keep an open mind
Be brave and willing to try new things. If you love Claret and have a cellar filled only with Bordeaux, it can become boring. Consider adding Bordeaux blends from around the world or look at buying wines made from the individual varieties that go into the blend. Consider the structure of the wines you like the best. If you love the texture and character of mature Grand Cru Red Burgundy, maybe add Barolo and Barbaresco from Northern Italy. If you love Vouvray from the Loire, explore the Old Vine Chenin Blanc that is emerging from South Africa. The list is endless and with young winemakers travelling widely, exceptional wines are being produced all over the world. You will not love everything, but it is a thoroughly enjoyable journey of discovery.
Shop & buy widely
I believe the savvy collector mixes up their purchasing sources. Getting on the mailing lists for auction houses that specialise in wine can gain you access to great and interesting wines, at potentially great prices. If you are concerned you may over bid in the heat of the moment, place commission bids in advance. You can buy with friends and split lots. Moreover, it is judicious to work with a variety of merchants. Many wine merchants offer the same wines at the same time each year. Working with a few, will allow you to compare prices or maximise your allocations of favourite and sought-after wines.
Provenance matters
One caveat sits alongside this last point, I would always recommend buying from reputable source. If you are offered rare or old bottles, ensure you research the offer and request documentation and details of provenance. Do this regardless of who is offering you the wine. And remember, if an offer seems too good to be true, it likely is too good to be true. At the top end of the wine market fake bottles do emerge and it is better to pay more and be a hundred percent confident in authenticity than risk buying something that is fraudulent.
Ultimately, building a collection of wine should be fun. It is an area where you can create your own rule and goals. A collection can be a large or small as your wish and can offer investment potential or simple drinking pleasure.
Correct storage is essential
As you row your collection, storage should be a key consideration. Many merchants will store wine you have bought from them on your behalf (paying a fee per case). Some will also allow you to transfer stock from other sources. You can open private accounts at bonded facilities, which allow to you defer payment of duty and VAT, until the point at which you chose to withdraw the wine. If investing this is wise choice, because selling wine under bond is preferred by collectors and is, therefore, advisable. If you wish to store any wine at home and do not have a physical cellar, I would recommend investing in a temperature-controlled space, even if that is a simple wine fridge. Many can hold up to 200+ bottles, so they are a good way to ensure your drinking wine is on hand and being kept in optimum conditions.
Know your palate
So often we drink according to fashion, so it is important to identify your palate preferences and learn how to articulate what you like. If you are unsure how to translate this into a strategic, purchasing decisions, work with an expert who can steer and advise you. They will be able to help you understand your palate and break your preferences down into purchasing goals. I have come across clients who are rarely drinking the wines in their collection because they prefer to drink something else – your collection should reflect your palate. Trends will always influence markets and I think it is absolutely fine to enjoy wines that are ‘on trend’, but never buy something that you would not enjoy drinking at some point. Treat wine as you would art and opt for bottles that will bring you joy. If, down the line, you are unable to sell it at a profit, you can still enjoy drinking it.
Katherine Dart is a Master of Wine with over 20 years’ experience in the wine trade, working with trade and private cellars and as a buyer, sourcing wines from producers all over the world. She is the co-founder of Grape & Nectar, a wine consultancy that specialises in auditing existing wine collections and helping clients build cellars that suit their needs, large and small.
