Wine investments impact your bottom line.

You may also seek out horizontals and verticals to discover the depth of a particular wine. Avid fans of Bordeaux may collect various wines from Châteaux in the same year as a horizontal to determine the variation between one patch of vines and the next. Or you may wish to assemble a run of vintages of a particular wine for a superb vertical tasting. It’s important, even at the very beginning of a collection to keep specific records of where the wines were purchased, the price acquired and where they were stored. Going forward, make sure to note which bottles you consume.

“The old adage is that once a certain age is reached, there are no great wines, only great bottles — there is indisputable truth here.” Noah May

WS: Mitchell: What would you consider core choices of vintages, & types of wine to establishing a well-rounded collection?

May:   Strong vintages make all the difference. Stellar vintages in Bordeaux for example — 1982, 1986, 1989, 1990, 2000, 2005, 2009 and 2010— will have prices to match the high quality. Seek out lesser young vintages such as 2012 and 2008, which are not so expensive but still have bags of concentration and complexity. If your birth year happens to be a solid vintage, count your blessings and start stockpiling curious bottles to celebrate with in years to come.

The wine trade has its particular season which is useful to know. In late January, merchants will offer Burgundy En-Primeur (wine sold in the barrel from the most recent vintage for bottling and delivery  time). In March/April Bordeaux will host its own En Primeur and collectors can visit Châteaux or expect merchant’s offerings in their inbox. In May, Italy holds tastings of Barolo and most London merchants will follow suit with offers of younger Barbaresco and Bartoli. In November, most dealers focus on the Rhône Valley and Christmas offerings of hearty reds and Ports. At Christie’s, we host the Hospices de Beaune Barrel Sale on the third Sunday in November when the streets of Beaune are filled with wine lovers.

WS: Mitchell:  What types of wine are best suited for long-term holding (15 yrs+)?

MAY: In youth, fine wines are robust, vital, yet somewhat one dimensional in their appeal. The adage is that once a certain age is reached, there are no great wines, only great bottles — there is an indisputable truth here.

It is nothing short of tragic when corks are pulled on older bottles, and it quickly becomes clear that a once glorious bottle is now oxidized, lifeless — the victim of circumstance, of neglect. Perhaps the relative frailty of these older bottles helps add to the joys of finding a great one. When fully mature wines show well, they can be transcendently wonderful. Youthful wines may show a vitality that a bottle approaching its half-century would struggle to muster up, but there is nuance, charm and a singular sense of character in a bottle of Latour 1959 that a 2000 or 1982 could only dream of.

“Our strength is older vintages of wines that you don’t tend to find at retail, expertly curated cellars of old curiosities and private collections of perfectly stored wines with impeccable provenance. ” 

WS: Suze Orman reflected on how much better her wine investments were doing versus the stock market. Where does one go to get a good wine advisor on investing in wine? Does Christie’s offer this service?

May: Today, finding a voice that you trust in the melee of opinion available is not easy.  It will pay dividends as recommendations will be made that concur with your vinous preferences. New experiences, new wines and a wealth of knowledge can best be gained by packing your bags and jetting off to your nearest vineyard. Serious wine collectors can be found pacing the terraces of Quinta do Noval, cycling around the vineyards of Champagne and trekking up the flinty slopes of a Grand Cru in the Mosel Valley. Most wineries offer tours for a small fee and many merchants and auction houses will host tastings with a range of great wines to get your teeth into. At Christie’s, we sell around 16,000 lots per year in our wine auctions around the world. These are usually by case but we also offer interesting and rare old bottles. Our strength is older vintages of wines that you don’t tend to find at retail, expertly curated cellars of old curiosities and private collections of perfectly stored wines with impeccable provenance.

“When approaching a wine investment, buyers/investors really need to study the scores and assessments of notable critics and make decisions on what to buy based on these early indications of a wine’s perceived quality.” 

WS: Do you recommend self-storage or using a facility that offers wine storage professionally, for longer term wine investments?

May: Putting the wine to bed in a cellar is the best way to guarantee it a longer life. Lying it horizontally in a rack means the liquid is in touch with the cork, which prevents it from drying out. A perfect cellar should be cool, between 11° and 14°, with 12° striking the happiest medium. Temperature swings will affect the taste of the wine — too hot and the wine will age quickly with cooked flavors. If the cellar is too cold the cork will suffer from low humidity and begin to dry out, causing seepage and oxidative flavors. Bottles like nothing better than sitting in the dark. Sunlight will dissipate the molecules in the wine and leave it insipid and colorless. Light bulbs may fade labels but as the glass is dark most low-level light will not cause harm to the wine. Perhaps the best tip for new collectors is to simply leave the bottles in their original cases.

WS: What wines would not be a good consideration for collecting?

May: If you’re buying wine to enjoy, then there really shouldn’t be any wines that aren’t good to collect! All wines have a lifespan; it’s just that some are longer-lived than others. A Provençal rosé, may be best after a year or two only, but that doesn’t mean you shouldn’t include a case in your collection for enjoying next summer. If you are looking to collect for either investment, long-term laying down, maturation, or for future generations to enjoy, stick to wines that have the requisite structure to stand the tests of time. Wine requires tannin and acidity (preferably both) to last for long periods, so for long-term collecting, avoid lighter styles of wine with a more delicate structure, as they’re likely to begin their inevitable journey toward vinegar, sooner.