2017 is here now ready to reveal its surprises and let us know whether our past predictions, as well as those of specialists from various industries, will become reality. In terms of investments, the overall game is as challenging as usual and will require a serious set of knowledge and skills from behalf of investors looking to grow their business. Last years was a great one for wine investment and most predictions have placed this year above it. This means that fine wine will be the focus of most investors at the beginning of 2017. Let’s discover more details about this prediction and how it will evolve throughout the year.
Fine wine investments: a medium to long-term game
First, current predictions and the past proven success of this investment asset has offered fine wine a well-established place in the industry. However, no investor should forget that this is a medium to long-term game rather than an asset that can bring you overnight success. Among the wide range of reasons that are at the base of this reality come the serious costs involved in doing business with fine wine.
It is a physical asset for one thing which requires perfect storing conditions and timely inspection to ensure its quality. Furthermore, it is not always possible to immediately find willing buyers that share your good tastein fine wine as a selling factor. However, once such limitations are overcome, there is no limit to how successful you can become according to how much you have invested in this asset and how patient you have been before selling your fine merchandise to the right clients.
2017: a great year for fine wine investments made by professionals
Moreover, 2017 will be a great year for fine wine investments but not for most non-professionals. You cannot just assume to be able to do business in this area but rather come to the industry with proper knowledge, skills, a well-established business plan and the right people to surround you. You need to have the power to sustain your great investment and play the long game before you see your valuable financial revenues in the bank.
However, this does not mean that only those who have invested in it for many years can play this game. It only means that you need to be well-prepared to face the challenges and overcome any limitations along the way to become one of those who have managed to earn a lot of money out of such investments. Fine wine is a golden mine for those who know how to invest in it right and make sure to achieve proper revenues from their investments at any costs.
Important factors to focus on in the investment world this year
If you are already aware of the above-mentioned aspects and you are ready to move on with your fine wine investment this year, then you should consider some other important factors that will ensure your success in the industry. First, you need to rely on manufacturers you trust and surround yourself with specialists in case you are not a real fine wine connoisseur. Next, make sure you focus on advantageous regions when you make your purchase. Moreover, you will need to achieve capital appreciation so it is recommended for you to receive tax advice when building any wine portfolio. Do not underestimate the importance of purchasing wine that offers great value and growth potential rather than focus on spending less as an initial investment.
All in all, Lafite Rothschild fine wine investments are medium to long term ones that require a serious set of skills or the right people to advise you all the way to becoming your most successful business choice in 2017.