Before parting with your money, you need to understand exactly what wine you are purchasing and that you are making a sound investment. Remember only specific wines will tend to accrue value and these wines tend to be expensive.
- Do your research. Make sure that you are buying the right wines at the correct, competitive prices. The internet is a good way of comparing prices. If necessary, seek another opinion on whether you are making a sound investment. Check prices on sites such as wine-searcher.com or liv-ex.
- Provenance and quality. This is crucial to the value of your investment. Make sure you know the provenance of the wine you are buying- that it comes from a reliable origin and has been stored in an appropriate environment.
- Condition. Gather details about anything which may affect the value of your purchase. For example, fine wine should be in unmixed, sealed cases in the original wooden box. It should not have been repackaged in any way.
- En primeur prices. Do not buy en primeur in advance of the prices being published. Reliable traders will not try to sell you en primeur before the producers have announced their release prices.
- Availability. Ask whether the merchant has the wine already in stock or whether it will have to be received from the producer. Be clear about when your wine will be delivered or transferred into your account.
- Choose a reputable wine merchant
- Know what you are buying
- Look after your investment
- Understand the small print
- Don’t fall for hard sales tactics
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