Wine as an Investment?
Hardly. I’d drink it first for the sheer pleasure of the thing. But this article (if you can read it. It might require registration.) from the Washington Post highlights wine as an investment. I am not sure how easily flippable wine is, but you often hear about wine at auction in NYC. Basically a restaurant stocks their cellar and then at a future date decides to sell off what they have at auction. Private collectors do the same. To me, it’s a volume play. The man in the story who has a single bottle of the 1990 Petrus should just drink and supremely enjoy his wine. Unless he has a full case, it’s kind of silly to sell it off unless he’s involved in a club with some serious collectors or something.
Leave it to me to start the Friday Drink topic early. *sigh*
English Major wrote:
It’s a tradition in my family to buy a couple of cases of wine from the birth year of each child. The idea is to drink it at a party for the child’s 21st birthday. I was born in ‘83, which was a very good year, and as I approached 21, the wine my dad had bought was appreciating rapidly in value. He asked me whether I’d rather have the party or the money. I picked the money, so he sold the wine at auction and handed me a check, which allowed me to live in Berlin for a summer, studying German.
I plan to continue this tradition (both the wine and the party-or-money offer) when/if I have children.
Posted on 04-Jan-08 at 11:28 am | Permalink
Single Ma wrote:
Umm, mapgirl, we might need to look into that. Then again, you drunkards wouldn’t give it a chance to appreciate in value. LOL
What ya drinking tonight?
Posted on 04-Jan-08 at 5:20 pm | Permalink
donna jean wrote:
the partner probably lined the pockets of plenty of people acquiring the cases and cases of wine that we own. Too bad we had a dry, daytime wedding — we could have thrown down pretty well just from his wine stores.
however, there is a catch with buying wine, you do eventually need to drink it! we’ve opened too many bottles that were awesome wines a couple years go and they’ve headed south. of course, there was money in wine going bad, we sold several cases of wine that was teetering on the edge of good and bad and needed consumed faster than the two of us could.
Posted on 05-Jan-08 at 9:26 pm | Permalink