5 Tips for Making Your First Fine Wine Investments
5 Tips for Making Your First Fine Wine Investments
As some of the best alternative investments around, fine wine investments can bring you a nice profit while forcing you to take relatively few risks. Yet if your wine investments are to be the best investments you have made to date, you need to be careful about a few things.
How to Make the Best Investments
Buy only from established merchants The largest fine wine merchants do not always feature the best prices, but they are always professional and perfectly safe to deal with. The fine wine investment market has developed considerably in recent years, becoming more mainstream than ever. Unfortunately, this has led to the appearance of many fraudulent merchants.
Expect a long-term investment
As some of the most rewarding alternative investments, fine wine investments can help you earn a lot. However, it almost always takes time before wine investments prove fruitful. That is because wines need a few years to mature. In general, expect a wine investment to require at least four to five years before it pays off.
Buy fine wine in bond to avoid fees
In the UK, if you buy fine wine in bond you avoid paying duty and VAT fees. These fees are significant, so you should strive to avoid them. Also, try to buy unmixed cases.ï Invest a large sum. The best wine for investment is expensive. For this reason, you need to invest at least £6,000-7,000 when you first get started. For more substantial returns you need to invest from £10,000 upwards
Store the wine in a controlled environmentFine wine needs to be maintained in ideal conditions if it is to mature and reach its full potential. This means that the temperature and humidity in the storehouse are crucial. Do not make the mistake of trying to save expenses on storage costs, or you may lose all you investment.
As in all things, when purchasing fine wines for investment, advice should be sought from experts.
Choosing the best wine investment can be difficult, so careful consideration is crucial. Your questions on the best wine investments will be answered by our industry experts, free of charge.
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