Insure Your Wine

Wine Storage

Six Figure Offer Rescinded Due to Wine Damage During Storage

By in Wine Insurance, Wine Storage Comments Off on Six Figure Offer Rescinded Due to Wine Damage During Storage

Winston Art Group recently shared a very thoughtful and well put together case study on an inherited wine collection. The case study illustrates why proper storage and care is critical to realizing value over the life of the collection.

This particular collection had been meticulously created over 30 years. That’s three decades of buying and collecting wines many of which were purchased directly from the Château or a trustworthy retailer. Upon purchase, each bottle of wine was stored in the collector’s cellar. This cellar, however, was not climate-controlled nor stored correctly.

After the death of the collector, the family put the collection up for sale. Shortly after they received a six-figure offer. When the collection was being vetted and prepared for shipment the buyer found bottles with tattered labels, low filled levels. Bottles were covered in dust, partially leaking or actively leaking. Some bottles looked to be stored correctly, but upon testing, those bottles proved to be undrinkable.

Wine can easily become undrinkable when it is exposed to changes in temperature and humidity. If bottles are stored upright instead of on their side their corks will dry out and the wine begins to evaporate. Think of the six crucial concerns of storing wine when setting up wine storage.

Due to the state of the collection, the six-figure offer was rescinded.

Luckily Winston Art Group was allowed to create a case study to share with their users and wine drinkers alike. Collectors should read it as a cautionary tale.

Visit Insure Your Wine to learn how we can help protect your collection.

To read the full case study visit, Winston Art Group.

Know When Not To Drink Your Wine

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Did you know not to drink you wine when?

  • The cork has begun to pull out from the bottle
  • Red wine has turned brown or White Wine has turned into a yellow brown
  • If the wine smells like wet cardboard or vinegar
  • To not store in your kitchen, boiler room or laundry room

There are a lot of factors that come into play when curating a fine wine collection. Your time is one of the most valuable resources you use when establishing a wine collection. It can take years or decades to create the wine collection of your dreams. That’s why it’s important to protect your collection with a comprehensive wine insurance policy.
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Early Record Set for Single-Owner Wine Sale

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UntitledSotheby’s set an early 2015 record with the sale of a single-owner wine sale for HK$56 million (about 7.225 million USD). Not only was this the highest grossing sale of 2015, so far, it also set some other high bars.

  • 6th largest sale in Sotheby’s history
  • 4th largest single-owner wine sale
  • Leading sale of the year globally

Sotheby’s achieved a 100% sale of the collection with 50% of the lot exceeding their estimates. Burgundy represented around 75% of the total value of the wine collection. One of the key components of the collection were 800 bottles of Champagne which Robert Sleigh referred to as, “one of the best collections of Champagne to ever come to Asia.”

Not all collectors are as lucky as the collector that sold his collection in HK. Some collectors fall victim to many of the crucial concerns with storing wine. For example, if a portion of the collection had not been stored on its side the corks could become dry and let in air, spoiling the wine and their price at auction.

Wine insurance is another factor when investing in wine. Not having proper protection leaves the collection subject to spoilage from temperature fluctuations, or humidity changes or even theft, as seen at The French Laundry. Find out more about protecting your collection at our policy details page. If you would like to apply for a quote please fill out the following application.

Six Crucial Concerns of Wine Storage

By in Infographic, Wine Insurance, Wine Storage Comments Off on Six Crucial Concerns of Wine Storage

Most wine collectors understand that wine should be stored in a cool dry place. What isn’t often understood is that there are six crucial concerns when storing a wine collection. For example, it isn’t enough to just keep your wine collection in a cool basement. Keeping a constant temperature is essential in keeping the long term value of wine. An emergency generator is essential for keeping temperature fluctuations to a minimum. Without a generator wine is susceptible to temperature fluctuations due to power outages.

Wine insurance in addition to having a back-up generator is key to protect wine as an investment. With out a comprehensive wine insurance policy wine collectors are left with out recourse in the event of an earthquake or flood, even if your wine is damaged during transit. Learn more about our comprehensive coverage and apply for coverage.

For more information on the six crucial concerns of wine storage have a look at our infographic below.

6 Crucial Concerns of Wine Storage - A Wine Insurance Companhy Infographic