To Sell or Cellar? What Fiduciaries Need to Know About Wine Collections
Probate & Property, March/April 2001, Volume 15, Number 2
By John J. Pankauski
Americans' love for wine has exploded! Wine consumption and collection have risen to new heights in the last 10 to 15 years. People flock to visit wineries and vineyards in Napa Valley, bid on lots at auctions, read more about wine through wine magazines and books, attend tastings, bike through the French countryside on wine tours, store wine at home in wine cellars, go to great lengths to get a bottle of that hard-to-find "cult" wine and search wine stores for that 90-rated new release. Successful retired executives, doctors and lawyers that previously had a love only for drinking wine are starting their own vineyards. Tech millionaires are buying wineries and spending millions at auctions to purchase rare and fine wines.