FUTURES & COLLECTIBLES

According to Dave Reynolds, a seasoned wine auctioneer, collectible wine stands the test of time.

Reynolds also says that collectible wines have a track record of aging well. So if you lay one down for 10 years you won't end up with a surprise. If you buy the same wine over several vintages and build up whats called a vertical collection, you can see how a wine changes from year to year.

If youre collecting, it helps to know the difference between collectible and cult wine.

One main difference between cult and collectible is that cult wine is made in small amounts, typically fewer than 1,000 cases per year. Reynolds says it has to be rare enough that you're lucky if you can get your hands on it. Collectible wine, on the other hand, is usually easier to find and much easier on the wallet. Many times hype about a cult wine can send prices soaring, especially at auction. Reynolds says that when someone buys a bottle of Screaming Eagle at auction for $1,500 there's a tendency for other people to think that maybe $1,500 isn't that much. But its a lot compared to many collectible wines in the $75 to $125 range.

One thing to keep in mind no matter what the size of your collection: Collect wine to enjoy it and not to sell it. Reynolds says if you're collecting wine in the hope you'll be able to make money on your investment, you're collecting for the wrong reason. He says it's rare that you'd be able to resell that wine for a profit.

According to Reynolds, wine is about getting people together for good fellowship. The fun is in sharing it with people, because the main reason to collect wine is to enjoy it.
- Dave Reynolds, Auctioneer

CULT WINES

Cult wines emerged during the 1980s especially with the enormous growth of the California Wine industry. The small production level combined with a great demand determines a wines status as "cult." Ultimately, these wines are highly sought after, infrequently seen and rarely tasted. The hype and consequent mystique place these wines in a class of their own, regardless of what their release prices were.

"Super-cuvees from small plots of vines, whose vineyard is so worked to produce low yields to make wines that will undoubtedly impress the consumer. The difference between garage and cult wines is that the latter have vineyard characteristics, while the former are created mainly in the cellar. As such, they have a good future."
- Stephen Spurrier/Wine Consultant

What defines a cult wine? Basically, it's one you can't buy. Small production and great demand collide, sending prices through the roof for the few bottles that trickle onto the market. Either you got in on the ground floor with a spot on the winery's mailing list, or you got locked out and are forced to bid against scores of other cult followers when the wines come up at auction.
- Marvin R. Shanken/Editor and Publisher & Thomas Matthews/Executive Editor, Wine Spectator