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Explainer / How to start a wine collection, according to the experts: invest in Bordeaux, burgundy, champagne and other famous names; understand the meaning of ‘collectible’ – and buy bottles you love

Nick Stock, Jeannie Cho Lee, James Suckling and Joe Czerwinski offer their thoughts on building a wine collection that is great to drink, and provides earning potential. Photos: Handouts

If you’re thinking of starting a fine wine collection, there’s no time like the present. Data from Liv-Ex, the London-based fine wine exchange, showed that over 2021, wine investments performed better than traditional stock portfolios, and much better than gold (which fell in value by three per cent).

Indeed, last year was the best year ever for the secondary market for fine wine, growing more than 20 per cent according to Liv-Ex, and with all kinds of A-listers jumping into winemaking, wine collections and investments are likely to keep maturing nicely for the foreseeable future.

But how do you go about starting a wine collection? What factors do you need to consider when investing in fine wine? And what wines offer the best returns?

STYLE spoke to four of the world’s top wine critics, all also collectors, to get their expert takes on starting your own fine wine cellar. Here are some of the key points to bear in mind.

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Follow our experts’ tips and you too could soon be the proud owner of an impressive wine library. Photo: Handout

1. Understand what “collectible” means

There’s a saying in the wine world: the smart collector buys wines they love, because then even if the investment goes foul, you can still drink the bottles and enjoy them. But if you can find that ideal overlap between wines you love, and that others love too, then your wine collection will make as lasting an impression on your wallet as on your palate.

Collectible wines are those that increase in monetary value over time and are traded on a secondary market. “Collecting wine requires certain costs – proper storage, cataloguing and insurance – and selling wine incurs others – transportation and commissions – so there is little point in collecting wines that won’t appreciate in value over time,” says Joe Czerwinski, editor-in-chief of Robert Parker Wine Advocate magazine, arguably the world’s most influential consumer wine mag.

Collecting wine requires certain costs … so there is little point in collecting wines that won’t appreciate in value over time
Joe Czerwinski, editor-in-chief of Robert Parker Wine Advocate

And there are various qualities that make a wine desirable for secondary buyers. “You can play a fast game or a slow game when collecting wine,” says Nick Stock, one of Australia’s top wine critics and a regular judge at wine competitions. “Young wines that are extremely rare and are perfectly suited to drinking on release or soon after are fun to collect and drink. Instant gratification.

“Champagne definitely fits this category. The slow game is one of acquiring and cellaring and this means you need wines that are capable of improving over time. If you’re playing the slow game choose your vintages carefully and favour those that are built for cellaring.”

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This means making sure the wines you collect show the hallmarks of a quality bottle. “Fine wines in general will possess quality parameters that include balance, typicity, intensity and length,” says Jeannie Cho Lee, who was Asia’s first Master of Wine and regularly critiques fine wines on her website AsianPalate.com. And buy wines that can be sold later in the secondary market.

Chateau Lafite Rothschild is one of the top producers from Medoc, Bordeaux, France – a region that supplies many of the world’s most collectible wines. Photo: Handout

2. Look to traditionally successful geographical regions

Finding wines that are likely to appreciate in quality and value over time, and have a large secondary market, is not a random process. You just need to look to history. “Wines with heritage, brand strength and reputation for age-worthiness mostly come from the traditional wine regions of western Europe,” says Lee, who recently finished a PhD dissertation on collectible wines.

“Bordeaux is the most obvious choice, as it admirably balances longevity and liquidity,” says Czerwinski.

“It’s classic bottles like Bordeaux, burgundy, champagne, US cult wines, and top wines from other countries like Italy, Spain, Germany or Austria,” says James Suckling, one of the world’s top wine influencers and creator of the “Great Wines of the World” wine tasting events.

The slow game is one of acquiring and cellaring and this means you need wines that are capable of improving over time
Nick Stock, top wine critic in Australia

But winemakers around the world have been able to hone their craft over the years, and now you can find collectible bottles all over.

“Chile and Argentina even have collectibles now, as do New Zealand and Australia. And the list is growing,” says Suckling.

“Barolo dominates this section of my cellar, as well as burgundy and Riesling from Australia, Germany and Austria,” says Stock. “Hermitage (both red and white) is also a sure bet. Syrah/shiraz from most regions is bound to benefit from at least six years in the cellar.”

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“Vintage port is another collectible wine that has stood the test of time,” says Czerwinski. “But anywhere there are wines being produced that have the ability to improve over time is potentially fertile ground – in particular, I think certain wines from California and South Australia fit into this space, although there are certainly other places in the world that do as well.”

If you do look outside the usual suspects for collectible wines, bear Lee’s words in mind: “In the non-traditional (non-European) regions, different criteria would be required for it to be elevated to a collectible level: 1. scarcity, 2. high rating/reviews by prominent critics, 3. strong brand image among wine collecting KOLs.”
Arguably the most important feature of a wine collection is its ability to give you a good time; collect what you love, and you won’t go too far wrong. Photo: Shutterstock Images

3. Buy what the experts buy

Getting right down to it, if our experts had to list certain specific wines that are among the most collectible right now, what would they list? Here’s what they said:

James Suckling:

“Top and famous burgundy is the biggest collectible in Hong Kong now because of the rarity (it’s made in limited quantities) and the prices continue to increase. Plus there has been a string of excellent vintages including 2017, 2018, 2019 and 2020.”

Joe Czerwinski:

“Blue-chip collectible wines include first-growth Bordeaux (Chateau Haut-Brion, Chateau Lafite-Rothschild, Chateau Latour, Chateau Margaux, Chateau Mouton-Rothschild) and vintage port from well-established houses. In burgundy, the big names include Domaine de la Romanée-Conti and Domaine Leroy/Domaine d’Auvenay.

“Quantities of the top burgundies are tiny – sometimes measured only in dozens of bottles for the world – and prices are already astronomical. Of these options, vintage port is the most affordable entry point, as sweet fortified wines aren’t as fashionable with today’s consumers. It’s the only category I regularly buy, as I can still afford them and I love the wines. There’s something to be said for that.”

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Jeannie Cho Lee:

“Chateau Petrus from Bordeaux, Domaine de la Romanée-Conti from Burgundy, Chateau Rayas from Rhone, Krug Clos du Mesnil from Champagne, Screaming Eagle from Napa, Grange from Australia.”

Nick Stock:

“I drank a 2004 Vietti Barolo Lazzarito with some of my best friends over the summer holidays. This was in such a great place. I tasted the wine when it was released, so knowing I’d cellared it and seeing how it had developed so well definitely added to the enjoyment.”

Jeannie Cho Lee, Asia’s first Master of Wine, says a strong brand image among wine-collecting KOLs can help elevate a wine to “collectible” status. Photo: Jeannie Cho Lee

4. Don’t forget to enjoy (drink) it!

We’ll leave you with the words of two of our wine critics, who sum up the most important parts of buying wine, we think.

“Wine collections are often very personal,” says Czerwinski. “While some people may buy wines for the purposes of investment and potential resale, others are motivated by being able to follow their wines over time and drink them when they are at different stages of maturity. While I’m a wine critic and a bit of a wine collector myself, I only buy wines that I intend to drink; I don’t consider investment when stocking my own cellar.”

“Sharing great wine with great friends is the reason I collect wine, it is so enjoyable,” says Stock.

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  • James Suckling is the creator of the ‘Great Wines of the World’ events while Joe Czerwinski is editor-in-chief of Robert Parker Wine Advocate magazine
  • Jeannie Cho Lee is Asia’s first Master of Wine and critiques wines at AsianPalate.com while Nick Stock is one of Australia’s top wine judges and critics