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The wine market is a funny thing. It is essentially a luxury product and yet millions of bottles are produced each year.  A wine might be worth than one 10 years older than it and the price can come down how one person thinks it taste. One thing is certain though, there is a lot of money to be made from wine and now is a better time than ever to invest.

Fine wine prices have been rocketing upwards for many years now. As better storage facilities and more advanced manufacturing methods produce higher quality wines, so too does the price people are willing to pay for them go up.Sotherby’s Jame Richie who works as the top wine professional there actually said “Prices had risen to nearly unsustainable levels last spring”.Having said this, now that we find ourselves in a very weak economy, these fine wine prices are starting to come down to realistic levels. 2009′s January figures showed a decrease in prices of close to 1.2% according to the index that tracks 100 of the top collectable wines, known as Liv-Ex 100.  This is trend that experts expect to continue for while and can in fact be seen throughout the wine sector, from wine production to the sales of everyday shot glasses.

A bottle of 1978 Montrachet Domaine Romanee-Conti recently sold at auction in Chicago for just under $4,000. The price of $23,929 was only a few years back at Sotherby’s for the same bottle of wine. This sharp decline means that if you’ve ever wanted to start your own wine collection, either for your own consumption or as an investment, it will soon be the right time.The lowest point in that the market will face is predicted to be somewhere towards the end of the year. It should then be able to start gaining some speed again. Tableware and drinking accessories are expected to improve as well.

Joss Fowler, a wine investment expert from Berry Bros & Rudd has some tips for getting the best return. A Red Bordeaux is a pretty sound bet according to him, mainly because it very rarely ages badly. On top of this, make sure you go for the top wines you can get for your money and always get the best vintage. Stick to this adage and you’ll be filling up your wine racks before too long.

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Wine is produced and enjoyed in hundreds of countries all over the world. It is even more popular today than it has ever been before and lots of people are taking the step of collecting a few bottles themselves and even buying some of the gadgets and luxuries that make drinking wine all the more fun. There has also been an increase in the number of people taking the step to create their very own wine room where they can store and enjoy their wines. It may be a big step for some people but here are 3 top tips for getting your own wine room

1.) Keep it cool. Your wines should not really be stored outside of the 10° C to 16° C range.It is not the end of the world going lower than this suggested range but if you store above 26° C for any great length of time you will pretty much ruin the wine. With this mind you should either be able to regulate temperature in the room or invest in a wine cooler. Additionally you will need to keep the moisture levels down so a dehumidifier could be another worthwhile purchase.

2.) Glassware and tableware. Most people still use their kitchen to store their wine drinking utensils, despite having a room completely dedicated to their wine. If you ever want to sample some of your wine, which you will, there will be no need to keep visiting the kitchen if you have what you need right there.

3.) Organise. It’s such as simple thing to get right, and yet most don’t tend to worry about it until they get into a mess. If you arrange the wines by type, region and date from the very start, you will soon be in a mess and you’ll waste lots of time trying to find the bottle you want. You might want to invest in a nice wooden wine cabinet as well to display your wines in all their glory

Posted under Wine