True Blue Collectibles: The art of building a highly valued wine collection, be it for long term consumption purposes or for trading and auction is well beyond the scope of this article. However, allow me to share with you some of the basics that all such collectors attend to when building their collection. The good news is that most of the variables apply whether you are a novice or advanced collector. Committing yourself to homework and research on collectible wines is paramount if you wish to identify these high pedigree gems and reduce the risks of a costly purchasing error. There are numerous publications, both hard copy and on line, that offer superb education on wine collection. They will answer questions such as what makes a wine collectible (think vintage year, category of wine and auction demand) and how do I identify those wines? Why are vintage years so important and how do I evaluate the condition of wine? How can I learn about auctions and how they buy, sell and price the wine? If you’re serious about entering the auction market, it’s imperative that you learn how the system works. To not do so may be very costly. Don’t shy away from contacting one of the auction houses that specializes in wine. They will be more than pleased to work with you, knowing that someday, you may become a customer. And finally, don’t forget to speak to your trusty retailer. He or she may have some valuable information or suggestions to make. In time, your education will lead you to the wine varietals that have a pedigree history on their side. It may be the famous reds or whites from Burgundy or the timeless Bordeaux reds. You may settle on the big Italian reds such as Barolo or Super Tuscans. Or how about the classic dessert Sauternes from Bordeaux? All of these regions have produced some of the most sought after wines on the planet. However, not every vintage year is created equally, weather most often playing a deciding role. Just as athletes have off years, so too do great wines. It is in these vintage years that you may be offered a unique opportunity to pick up some of the traditionally collectible wines at relatively good prices. They may not have much demand in the auction market but who cares if you can get your hands on some for a “bargain” price! A 2005 first growth Bordeaux, such as Chateau Lafite Rothschild, will set you back around $770. However, if you are willing to go with the 2004, a year marked by less cooperative weather conditions, the auction price drops to $250. As well, the 2008 and 2007 first and second growth Bordeaux futures have been discounted significantly (some rolled back to 2002 prices) due to less than stellar vintage seasons and the worldwide economic weakness. If you don’t mind plunking down money today for wine delivered in 2011 and you desire some potentially collectible Bordeaux, this is an opportunity. Speaking of money, the budget discussion here is far more relevant and impactful in launching a high end collection than a starter case or two of wine. While $500 easily covered the bill for nearly two cases of everyday wine for the novice collector in Part III, it may barely cover the expense of one or two bottles of collectible. If you have only limited funds to work with, you may have to choose between the purchase of a limited quantity or wait until you have amassed additional funds. There is no right or wrong decision here, just differences in approach. When you are ready to purchase the wine, be aware that many spirit stores may not stock your “gems”. If the wine is not in demand locally and very expensive, the retailer is unlikely to carry the wine. You may need to research out a specialty retailer who caters to the high market or search the internet for alternative options. Remember that simply because a retailer does not have the wine on show doesn’t mean that he or she cannot access it. It’s always worth asking if the wine is available by order. If your goal is to purchase wine through an auction house, be certain that you understand the process and then speak with an auction representative to clarify any remaining issues. As you prepare your wish list and settle on a vendor, it is crucial that you make preparations in advance for storing the new prized possessions. The storage environment for wines that likely run anywhere from the hundreds to thousands of dollars is the key to success in long term aging and preservation. All of the storage variables discussed in Part II apply here…..just multiply their importance multifold. Temperature, humidity, and light reduction are the key elements here to control. While it’s not a big deal to lose a bottle or two to heat or humidity when the wine costs $15, it becomes a major issue (at least for me) when the wine runs many hundreds of dollars. While there are several options open to how you store your wine, it is imperative that you have the space available by the time you take control of your wine. Storage cooling units that accommodate all sized lots of wine are readily available and useful, especially if space in your home is an issue. Another option is to consider building a well insulated, cooled cellar either in or attached to your home. Clearly, this can be an expense so do your homework and seek out competing estimates. If you’re fortunate, you may have a dark, cool and moderately humid basement that functions perfectly well as a wine cellar. Finally, as with any significant monetary purchase, give some serious consideration to insuring your new investment against breakage, theft and weather related damage. If you are serious about amassing collectible wine, the value of the investment will climb rapidly. The expense of the insurance is not overly burdensome and will more than pay for itself should it be necessary.