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Expensive Wines: a Luxury Item for Collecting and Consumption

By Linda Subscribe to RSS | May 30th 2012 | Views:

Wine, a fine drink to accompany a meal, for some has a far greater value to others. Wine connoisseurs themselves would only be able to enlighten us with tales of the most luxurious wines available, some at prices one who does not study wine would never know about. Based on a variety of characteristics such as the where they are from, the quality of the grapes used to make the wine, the oak aging process if necessary, as well as how many bottles of that particular wine are made are all factors contributing to the price of wine. A fine wine could cost upwards of thousands of dollars.

Although many people buy wine to consume there are also plenty of wines sold as a mere addition to a connoisseur's collection. The most expensive wine ever sold was bought by Thomas Jefferson the third American president for $56,588; it was a 1787 Chateau d'Yquem. This bottle was bought purely as an addition to Jefferson's collection since wine of such an age is beyond its years for drinking.

The world's most expensive wine that was still able to be drunk was actually the most expensive wine ever to be sold in the United States of America which was a Montrachet 1978 sold in 2001 at an auction. This white wine was sold as a lot of seven bottles but per bottle ran at about $23,929. Even this price is overly extravagant; as the story with this price is that a bidding match between two men got a little out of hand both men trying to outbid each other. The actual value was probably substantially less.

Now even though most people can't afford such extravagant purchases there are wines that are much more affordable but still quite expensive which cost a few hundred dollars. Many people like to save these wines for special occasions when they are opened and shared and of course there are the few that buy as a hobby of collecting wines.

An owner of expensive wines must be aware that like any expensive purchase, they should be insured in cases of theft or damage. Just imagine if you were storing half a dozen bottles of pricey wine in your wine storage cabinet and came home to find it empty. In such an unfortunate event it is imperative to have coverage so that you suffer no loss of the money you spent on those bottles. Wine collectors are even more encouraged to protect themselves and their collection with insurance since it might be composed of rare and unique wines that are hard to come by as well as expensive.

In any case, learning about and indulging in fine wines either as a consumer of them or collector is incredibly fascinating. The price range is vast and varying depending on the characteristics of the wine. For those wine connoisseurs that are interested in the more luxurious and highly priced wines it is always better to be safe and have your wine insured in the event that something or someone damages your precious collection.

Linda - About Author:
When you need wine insurance in Ontario, you should always check out this site!

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