Edward J wrote:This is a subject I can relate to as I've just finished "Phase 1" of establishing our collection. At 58 I'm not really in a position looking for wines that I need to hold for 30 years before they open up. This means I won't be around to see the best 2011's in their full glory, but instead I will see which '63's will last over which '66's. I would have to say that there are certainly less 1966's available in the US vs 1963. But back to the collecting, wants vs. needs. At current consumption of 2 bottles of Port per month we need 24 a year or 480 over the 20 year period I'm planning for. Holidays and special events might require "special" bottles. As I started adding things up my $1,000 budget was no where close to what I ended up spending. After some calculations I spent what we could afford and now have a monthly allowance for new acquisitions and to save for that next must have auction lot. For our cellar defenders search we settled on a LBV port, they are easy to love and right around $20, a great value. For the next level I like the Single Quinta's The 1995's are drinking well and many are around $30, many to explore here at good prices. For special occasions I went more into 1970 which I think is better than 1977 and less risky without all the cork issues but I have a few. For those now coming into their own I went 1985 and a bit of 1983 and 1991. For the future I went heavy into 1994 a great year with many houses producing excellent wines. 2000,2003,2007,2011 are all up for grabs and I add when I find the right price.
So far the cellar is Vintage Port 20% 60's-70's, 20% 1980-1991, 15% 1994, 15% 1997 + , LBV, Single Quinta, 15% , Tawny, Colheita, others 15%
Great post Edward. Fun to read about how you decided to approach your cellar construction.
As age goes, I will conclude that I am lucky enough to start my collection at the age of 34 so I will have sufficient time to see the 2011 and so forth mature and reach their potential.
I have currently not defined a consumption rate of vintage port and I doubt at the current state of things it would be higher than 12 a year since I enjoy drinking Colheitas and Tawnies equally so. Also I do not drink more than 2-3 times per week and often only 1 glass per evening. This could change in the future and I would need to adjust my purchase strategy accordingly. Right now I feel like taking things at a moderate pace and have fun with the planning, finding great offers, making smaller purchase and actually bidding on an auction.
My focus is on buying great value for money vintages and I want to spend the majority of money on new wines from the 2011, 2012, 2013 and 2015(If declared) before prices increase. All the while stocking up some vintages from the 80 and 90's that I can start trying out soonish and restock and store once I find my favourites.
Edward did you not buy any 1991, 1992 or 1997?
A topic we haven't talked about here is Colheitas and how they develop in price. Since they theoretically do not gain anything taste-wise after they have been bottled, is there any strategy to buying Colheita from a storage or price perspective? I have heard mentioning of ensuring a not distant bottle date, but is that really a problem? Do you buy them early on and store for years or just buy when you run out or see a good deal?
Cheers
