In spite of the fad in some quarters for non-alcoholic entertainment solutions, wine remains the single most popular and effective tool in the armory of the determined small and not-so-small business networker. A cool glass of white, a full-bodied red or, for the extravagant, a sharp glass of bubbly loosens the tongue in any social environment and has been the deciding factor in many a clinched deal in the boardroom or the hired corporate lobby of a hotel.
Moreover, treating customers or potential business partners to a glass of quality wine reminds them that they are valued, as is their business or co-operation. Those who are most successful in their efforts at network building tend not to be shy about committing to the expense of entertaining, within reason naturally. As the influential Entrepreneur.com points out, the wine reception is the staple corporate entertainment medium in the United States and throughout the Western world.
The Other Role of Wine in Business
Wine does however have an entirely different role to play in business. The disparity in quality between wines of different vintages, with some being considered by connoisseurs to be distinctly preferable to others, makes certain “years” greatly sought after and, as they by definition become ever more scarce and therefore more expensive to take ownership of, inevitably attract the interest of wine collectors and investors.
In this respect wine is every bit as much a part of the portfolio of many investors as stocks or bonds. And whilst it would be unwise to stake everything on it knowing that investments by their very nature are given to fluctuation, the fact that it becomes a rarer commodity for the longer it is kept means that a good wine of a sought-after vintage will usually appreciate in value for as long as it is retained in perfect condition. In this respect it is considered a collectible in the same way as coins from a particular year, antiques or stamps.
There Are Still Risks in Investing in Wine
On the surface of it the fact that a good vintage wine becomes steadily more scarce ought to guarantee its progressively increasing value on the market, but this isn’t always the case and there are a number of reasons for this. First and foremost amongst these is that, whether through lack of subject knowledge or poor advice, some collectors spend money on wines which have no real investment value. Another reason is that unscrupulous merchants will often sell vintage wine at an inflated price in the first instance.
For those who enjoy wine for its quality, there is of course the added advantage that even in the event of a depreciation in salable value the product remains intact and can be enjoyed at any time. This alone gives it a clear advantage over paper commodities, which have no intrinsic value in their own right. So whichever way you look at it, for those who know what they are doing wine is one of the best investments you can make.