Thursday, June 19, 2008
Parting fools with their money
Investing in wine: A beginners guide
Sorry this is off-topic, but I thought I'd include it because it shows that when one foolish wheeze for getting people to part with their hard earned (such as BTL) comes to an end, along comes another.. I know a little bit about the wine trade, having over 2000 bottles in the cellar (for drinking, not investment) I can therefore say with some authority that not only is the fine wine trade in bubble mode (and not just Champagne..!) but also that the margins charged by the trade, coupled to the costs of professional storage, make the prospect of a profit minimal, and the prospects of a loss near certain. But I shouldn't complain - I stock my cellar from trade sales, usually paying less than the punters who bought 'as an investment' ten years ago!
Posted by uncle tom @ 09:45 AM (694 views)
5 thoughts on “Parting fools with their money”
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Adrian says:
There are lots of bubbles going on at the moment, including the internet and domain names, especially short names i.e. 3 or 4 letter/character domains. They have risen exponetially over the last few years. Eventually these markets will crash and expect another .com bubble to burst.
Still-waiting says:
At least if your wine stocks plummet you can drown your sorrows!
bidin'matime says:
So Tom, what with HPC now upon us, isn’t it time to ‘crack open’ a few bottles? What time should we arrive…?
(would also save all that trouble moving them when you buy your dream house at rock bottom..)
uncle tom says:
Yep,
Dream house must have big deep cellar – one of the reasons I’m looking to build it myself.
Will probably crack a decent bottle or two when I move in – a Latour ’55 perhaps, followed by one of my Noval ’31 vintage ports..
bidin'matime says:
Hmm – ’55 – a good year. Evidently in more ways than one.