For most wine enthusiasts, becoming a collector wasn’t something they set out to do; it just sort of happened.
Looking back, I wish that ten years ago, when I started to think about collecting, I had someone to take me under their wing and help me think strategically. To be fair, there was no dearth of willing wings, but I was loath to let on that I didn’t really know what I was doing.
The truth is that most of us are just winging it, seduced by the latest sale or trendy region and rarely doing much in the way of long-term thinking. Of course, there are people whose approach is purely rational and profit-driven, but I have very little wisdom to impart to them. Instead I’ve assembled a guide for those just on the verge of becoming collectors to figure out where to start.
Identify Your Goals
To quote motivational speaker Simon Sinek, start with why: what do you hope to achieve by stockpiling bottles rather than just buying a nice one whenever you fancy? Money might be a factor. In this age of rapidly rising prices, it can be tempting to see wines from Domaine de la Romanée-Conti and Domaine Leroy as sure bets to increase in value. However, allocations of these examples are increasingly rare and buying on the secondary market carries risks. Plus the cost of storage, trading fees and taxes can put an unhealthy dent in your profits if not carefully managed.
Another fairly straightforward reason to collect wine is to guarantee your ability to drink well a decade or more down the line. Wines that are somewhat affordable now might not be by then. Even if you can plump for newly released vintages, properly matured bottles might well be out of your league.
A less common but very valid reason to collect might be that you enjoy mature wines that are rarely available second-hand, like Oregon pinot noir or New Zealand chardonnay. Because these wines aren’t yet broadly deemed “collectible”, resellers aren’t often interested in stocking them and the wineries themselves rarely have a library of “back vintages” (older vintages). These may not increase much in value, but if you enjoy them then to you they are, effectively, priceless.
A final reason, though you may not love admitting it, is that you want a flashy collection to impress your friends. There’s no shame in this and it’s better to accept it so you can construct your collection accordingly. You’ll want to buy a lot more mature wine that’s ready for drinking now or you’ll be of advanced years before you’re ready to drink with the big dogs.