It seems that almost two years of the pandemic and its lockdowns have only increased investors' demand for fine wines.
With such mind-boggling prices, you must be thinking that investing in wine is not within reach of normal people, but that doesn't need to be the case. However, wine merchants and online platforms have made it possible for people to invest in wine from a few hundred pounds. For more information regarding wine investment, you can navigate to https://rekolt.io.
If you're on a tighter budget it's possible to still invest in wines as there are ways you can cut the costs:
1. Invest in lesser-known wines
Wines from Bordeaux and Burgundy in France have typically dominated the world of fine wine investing but the market has changed greatly over the last couple of decades.
Wines from Germany's Rhone Valley, Italy, Australia, and Latin America are also now investable, although be aware that they do not have the same blue-chip reputation as the finest French wines.
2. Invest for the long term
Too often, investors in fine wine panic that they're losing money over the short term.
Investing in wine, especially in the beginning, can be a volatile experience particularly if you have bought your wine at peak prices. As with most investments, it is important to take a long-term approach when investing in wine. Wine prices are determined by supply and demand.
3. Get advice
A tip from a neighbor or family member won't result in the best investment advice when it comes to wine.
It's important to bear in mind that alternative investments such as wine and diamonds are not regulated by the Financial Conduct Authority.
Your money is not protected and you can't claim compensation if things go wrong.