Colonel Lawrence
Posts: 2093
Joined: 4/24/2006 From: Arabia Status: offline
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Interestingly varied replies; my method is yet another variation on a theme. I start with the basic premise that I'd like to drink some of the best wines in the world as inexpensively as possible (ideally free). I therefore choose to buy wines that I anticipate will at least double in value, in a five year time frame. I buy twice as much wine as I need to drink and plan to sell the other half (I generally buy at least 2 cases of each wine) Initially the obvious wines to buy were red Bordeaux classed growths: i) I liked them ii) they had a track record of appreciating in value iii) they were readily buyable and sellable iv) chosen properly they age extremely well The choice about which specific wine is more complex. The first helpful indication is that the better known, most in demand wines, particularly the 1st's growths and super-seconds, increase in value fastest. Wines Parker likes (i.e. rates highly) do well; more trickily the wines he upgrades do really well! The scarcer the wine the better. Chateaux with good and improving performance appreciate well. The best vintages appreciate best, long term. There are a number of unknowns which will impact future prices, one particularly important one is the quality of future vintages. Recently important has been the desire of producers to maximise their short term profit en primeur, at the expense of dealers and buyers. You must store your investment half in perfect conditions, sensibly the half you drink might as well be there as well. Finally it is critical to buy at the best possible price; being a commodity, wines best price, assuming it has perfect provenance, is the lowest price. With one critical proviso - the dealer you buy from mustn't go bankrupt before you receieve your wine (it happens, rather too often!). Wine-Searcher.com is an indespensible pricing tool when choosing who to buy from. By the way, outside en premeur, dealers will bargain, so a good strategy is to find the worlds best price and try and extract it from your favoured dealers. I know this will not be for everyone, but maybe for a few others? I also buy wine for very immediate drinking, using different criteria. I buy this based on many of the criteria already mentioned by others - recommendations, internet, CT, dealers, ets. - but additionally I buy to educate myself as to which wines (outside Bordeaux) I like. This last fact is becoming increasingly important as Bordeaux classed reds are expensive, potentially harming their appreciation potential. Also I expect the worlds consumers over the 10-20 year period to become more educated (like todays CT users), and to buy a wider selection of the worlds wines, all over the world. This should see great wines appreciating from New World and other Old World countries. In my global search I am concentrating on only the very best wines (much more narrowly than in Bordeaux). I like wines made by famous joint ventures (they have both wine making and marketing skills which are both critical). I also particularly like Bordeaux beaters (blind taste test only). A bit long winded, but it works for me. L. PS Hit lucky buying the 2000 Bordeaux vintage extensively, so be lucky as well.
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