This week the eldest of my three daughters turned eighteen which has left my wallet feeling empty and me feeling much older. I thought that it would be nice to have a glass of wine from 1996 but then I remembered that I’d sold the bottle that I’d bought in, it’s a shopkeeper thing and it was £90 and this is Yorkshire. The wine in question was one which I had enjoyed in 2000 and back then was £25 a bottle. So with an increase in price like that it made me think that I should have cellared a few bottles. I could have sold some and made a very tidy profit. So why didn’t I? Well firstly I’m a shopkeeper, I buy and I sell, not buy and keep. Secondly, where would I put it? At the time we had a house with a cellar but for the last decade or so we haven’t and so the wine wouldn’t have had ideal storage conditions unless we’d paid for somewhere and that’s a faf. Thirdly, wine’s for drinking and I have no patience when it comes to that, when a bottle of wine crosses my threshold the cork seems to just fall out!
All this leads me on to a story I read about fine wine investing which should be another reason to be wary of buying wine to hold over time. Over 400 people lost over £24 million when Bordeaux Fine Wines turned out to be a ‘Ponzi’ style scam. This is just one of dozens of these sorts of stories that has been reported over the last few years and to make matters worse people who have had their fingers burnt once were told by the liquidating company that they were likely to be targeted again.
So the long and short of it is buy wine to drink and if you have the means to store the wine for a few years then make sure you can physically see what you are shelling out for. Me, I’ll be enjoying a couple of glasses of the very, very exciting Juan Gil 18 meses (£23.99), a stunning wine and it has 18 in the title.