Hi, it’s wine critic Elin McCoy again, looking forward to the holidays, starting with Thanksgiving next week. Among the wines I’ll be serving on Turkey Day are a couple of great American sparkling wines, including the savory Domaine Carneros rosé fizz I recently recommended. Click this way for even more bubbly that’s guaranteed to start a party. Photographer: Janelle Jones for Bloomberg Businessweek But I’ve also been savoring new Napa and Sonoma cabernets and spent 10 days in Umbria and Tuscany sniffing out great Italian reds (look for my upcoming reports), which made me think about what wine lovers collect and why. And who better to ask about that than Taiwanese billionaire and mega art and wine collector Pierre Chen? Over the past year, Chen has been selling off part of his extraordinary cellar in a global array of high-profile Sotheby’s auctions. All resulted in record prices—and the atmosphere at the New York sale in September, says worldwide head of wine Nick Pegna, “felt like a party.” The fifth and final sale, The Epicurean’s Atlas: The Zenith, will take place in Hong Kong on Nov. 30. Don’t worry about Chen. He says he’ll still have thousands of bottles left. Below, my exclusive Q&A with him. What was the wine that turned you into a lover? The craft beer that had you put down your Budweiser? The whiskey or tequila that had you go, “Oh, I’m going to sip this,” instead of shoot it? Email us at topshelf@bloomberg.net with a tale of the drink that made you appreciate the finer things in life, and you might be featured in a coming Top Shelf Society newsletter. If you’re reading this online, sign up for free here to never miss an edition. We rotate through beer, wine, whiskey and cocktails every week. Chen. Source: Sotheby's What’s the best way to begin collecting wine? For me, wine always starts with food, so I began with wines that complemented the food I love, the places I visit and the cultures I engage with. The quest for the perfect pairing has always been important. I’d recommend starting the same way: Think about the ingredients and preparations you enjoy, and seek out wines that align with your lifestyle. It’s a very personal journey. Don’t worry about what others are collecting. Follow your interests, follow your taste, and think about the people you enjoy sharing it with. What’s your overall strategy? I use both information and intuition when buying wine, and this has a lot more influence than a yearly budget allocation. Curiosity and expanding knowledge through experience are key, and I’m constantly expanding what I know. I love meeting winemakers and discussing the terroir, the weather and the timing of a harvest. My collection has been built primarily through my love of food and exploration, learning about interesting new regions as I have adventured through them. [My tip: If you don’t have unlimited funds, set a beginning budget of $5,000, and buy gradually. Start with a few top wines from regions or wine types you like to drink. You can find good values in Champagne, the Loire Valley and Italy.] And if you find yourself actually in Champagne, do visit the new tasting room at Tattinger. Source: Tattinger Did what you collect change over time? My tastes constantly evolve because the experiences of life always shape us. I began collecting powerful French Bordeaux—for example, Château Mouton—and some Napa cabernet sauvignons that were good with red meat. Later I discovered that a youthful full-bodied Burgundy is also bold enough to stand up to dishes like spicy hot pot. As I traveled and learned about new regions, I began to identify other wines that could elevate the foods I love. What’s most important to me now are wines such as white Burgundies that match the delicate flavors in seafood and fresh produce. How do you acquire wines? Different roads lead to different wines. I’ve built long relationships with great winemakers, which gives me access to incredible wines at the source. But I also trust auctions and a few select merchants. I acquire only from sources that share my commitment to provenance and careful handling. [Places like Berry Bros. & Rudd and Justerini & Brooks in London, Zachys in New York and K&L Wine Merchants in the Bay Area are highly reliable.] Berry Bros. is the UK’s oldest fine wine & spirits merchant and newest online wine auctioneer. Source: Berry Bros. & Rudd What do beginning collectors need to know? Allowing the time to research and learn is essential. When I buy a piece of art, I consider the artist’s practice, the medium, the period and how the piece makes me feel. It’s the same with wine. I think about who made it, how warm or wet the summer was, the history of the vineyard and the methods used. But mostly, I think about the food it pairs with, the memories it will evoke—maybe a bottle that feels perfect for spring in Japan, when the sakuras [cherry blossoms] are in bloom. Are there any aspects of creating an art collection that apply to collecting wine? I collect both. If art is about transforming a space and making you feel within it, wine is about time. Wine evolves through food and lingers in memory, unfolding its story with each sip. While they shape how we experience life in different ways, both art and wine share a common thread: the act of sharing. If you're low on time, Vinovest is a wine collecting platform and quick way to get started without thinking much about it. Source: Vinovest How do you avoid bad bottles and counterfeits? I buy from a limited and trusted selection of people and businesses. At auction I have generally bought from only the most reputable single-owner sales because they are serious collectors who know how to store wine in the best conditions. I also source directly from top domains and winemakers. I place equal importance on impeccable provenance and optimal storage conditions. I take pride in maintaining my collection under ideal conditions, with minimal disruption to the wines. To take pride in your collect, too, you’ll need to buy a wine fridge. Source: Wine Enthusiast Catalog What’s the ultimate in collecting? Making new connections with wines I’ve already developed a relationship with. One discovery was that aged Chinese tea pairs wonderfully with certain Burgundy reds at the end of a meal. I had a sip of wine left in my glass, and after the tea, I decided to try it. I was immediately struck by how beautifully the tea and wine paired. One of the most exciting parts of my wine journey was acquiring a small parcel of Burgundy’s Musigny grand cru vineyard and entrusting the Faiveley family to produce a special wine with me. It has given me a deeper understanding of winemaking culture, the terroir and all the elements that create truly exceptional wine. What about investment potential? I never consider investment potential. I’m more invested in the art of living—a life of beauty and sharing with friends. Anybody who buys wine to be cellared is, in a sense, “investing,” but what they are investing in is their future enjoyment, future happiness. Comments edited for length and clarity The apotheosis of collecting truly is having your own vineyard. Chen sold some of his Faiveley Musigny magnums at a previous auction. Source: Sotheby's In case you are feeling very, very flush and want to score bottles for yourself or gifts, note that Chen’s sale features fabulous old vintages of Dom Pérignon, Krug, Salon and other top Champagne names; and rare, expensive Burgundies, like a case of assorted Domaine de la Romanée-Conti wines from 1999 (estimate: $64,300 to $96,500); as well as amarones from cult producer Quintarelli. All will have been immaculately stored. My list of more approachable good value collectibles includes wines that will reveal more layers or aromas and flavors with more time in the bottle, and you can find them outside the auction room. Buy at least two bottles—one for your cellar and one to drink now. Source: Vendors 2013 Grattamacco Bolgheri Superiore ($100) Tuscany’s Bolgheri appellation is famous for Super Tuscan blends of cabernet, merlot and sangiovese. This fragrant, impressive example from a less-well-known but historic organic property is vibrant and powerful, with notes of licorice and herbs. Drink now or over the next 15 years. 2020 Clos Apalta ($170) Sleek and silky, with layers of mineral, blackberry and plum flavors, this rich, compelling Chilean red includes a high percentage of the country’s signature grape carmenere. The French Lapostolle family, former owners of Grand Marnier, are behind this label. Wait anywhere from five to 10 years to drink. 2019 Château Palmer ($300) Compared with Burgundy, Bordeaux is a bargain, and in 2019 this third growth reaches the heights of its first-growth neighbor, Château Margaux. Incredibly intense and polished, the layered, scented Palmer has a finish that goes on and on. And it’s certified biodynamic. This gorgeous wine will last until 2060. 2015 Philipponnat Clos des Goisses Extra Brut ($280) The first single-vineyard Champagne produced (in 1935) is not as widely collected as Dom Pérignon but should be. (Six bottles of the great 2008 are on offer in the Chen sale.) The latest vintage is intense, minerally and silky, with an elegant personality and serious aging potential. With another decade or two of aging, the wine will show even more complexity, with notes of baked apples, warm pastry and candied lemon peel. 2018 Heitz Cellar Martha’s Vineyard ($350) Chen sold the 1985 vintage of this legendary eucalyptus scented Napa wine in his New York sale. This latest release is rich and velvety, the first under the new Lawrence Family Estates ownership. You won’t be disappointed. Drink it from 2027 to 2040. |