For wine enthusiasts, each step that precedes a glass of wine is an intimate ritual. The rasp of the foil cutter against the bottle. The tension of the cork before it finally releases with a pop! A brief meditative rest, allowing the flavors to bloom to their full potential. Then, finally, a taste. Whether earthy, jammy or grippy, a glass of wine boasting the perfect balance of fruitiness, acidity, bitterness and body can captivate the senses and even the mind long after the bottle is empty.

Is your idea of a perfect dinner party or gathering uncorking several bottles of wine and hosting a tasting? If so, it might be time to start a wine collection.

While the current state of the wine industry is a mixed bag — Silicon Valley Bank’s 2023 wine industry report shows the premium wine business enjoyed continued success in 2022 while overall wine consumption showed a second year of negative growth — starting your own collection is something anyone can enjoy with a little planning.

Getting Started

While it might be tempting to start your collection with a bang by purchasing a notable, expensive and exclusive vintage, most experts recommend that your wine collection align with your interests and values. So before you commit to buying a bottle of Bordeaux sold at auction in 2022 for a staggering €62,000 — or $66,482 — ask yourself the following:

  • What’s your budget? – While the Bordeaux, an Imperial of Petrus 2015, would be a feather in the cap for any knowledgeable collector, its high price point makes it outside the reach of most wine enthusiasts. Depending on your disposable income, you might prefer bottles that cost anywhere between $15 to $30. This article can help you understand how wines are priced and what wines deliver excellent quality at low cost.
  • Are you drinking now or later? – As demonstrated by the bottle of Bordeaux, wines can increase in value as they age. Buying young wines at a moderate price point that you can age yourself is a good way to attain attractive vintages for special occasions without the significant purchase price that comes with older wines. Depending on how much of your collection you want to devote to aging wine, you may need to invest in wine storage for your home so you don’t lose part of your collection to spoilage. Options can vary from wine coolers to meticulously managed wine storage facilities, but even a dark closet will do in a pinch.
  • Are there any special years your collection should include? – Birthdays, anniversaries and graduations are major events to celebrate with a bottle of wine. Because birthdays and anniversaries tend to be celebrated on major milestones, these bottles will likely need to be cellared for some time. This detailed article from Halliday Wine Companion covers everything wine enthusiasts need to know about purchasing a birthyear wine, including selecting the best wines for aging, which style bottles tend to age best and more.
  • Do you do much entertaining? – A glass of wine is a great way to unwind with family and friends, but if your wine collection only speaks for your palate, your guests might feel left out. It’s a safe bet to stock part of your wine collection with bottles everyone will enjoy. Or you can take the time to cater to the interests of your guests — they’ll appreciate the attention and care you show them. Understanding your socialization and consumption habits is critical to ensuring you have enough wine in storage.

Get Ready to Learn

The wine market can be complex, and competition for attractive vintages is fierce. If you’re eager to start a wine collection, it’s essential to make sure you have the know-how and connections to secure the wine you’re after.

Signing up for trusted wine industry periodicals like Decanter, Wine Enthusiast and others can keep you up-to-date on interesting new releases, vintage reports and wine news. Additionally, if you want to take a hands-on approach to expanding your palate and discovering more fantastic wines, consider signing yourself up for a wine tour or a wine-focused vacation. Tasting different types of wines made in different regions and wineries is a great way to develop your palate and wine knowledge.

Wine experts commonly make notes to collect their observations and make judgments, so give yourself time to appreciate the wine’s qualities when you find something you really like. Record notes of:

  • Color, consistency and clarity
  • Aroma and top notes
  • Taste at first sip versus how its flavors evolve over time

These notes will be invaluable to you as you build connections with knowledgeable wine experts and aficionados — your restaurant sommelier, wine shop employee, vineyard owner and reputable online merchant are all valuable connections to make. You can also consider joining online wine enthusiast groups or clubs to help expand your knowledge.

Starting a wine collection is a serious commitment of time and money. Protecting your collection is vital whether you’re purchasing for enjoyment or as an investment. Insurance companies specializing in protecting fine wines and spirits can help you avoid or mitigate your losses if something happens to your collection. Contact your Gallagher insurance advisor today to ensure you’re