Do you buy wine to drink, or to invest/collect?

Like the other coast Jim, I have never bought wine with the intention of holding and selling. But also like him, I am on some of those lists where the prices go crazy on the secondary market, and I have sold off wines that are in a style I no longer find so enchanting. I see nothing wrong with such culling. I have sold wines for $450 that cost me around $50 (though this winery no longer commands such prices.. I got lucky for once in my life). And though I remain on the mailing list, I only buy 1 or 2 bottles per year and share the rest of my allocation, at cost, with friends who still do like the wines.

There are other wines I buy that appreciate in price, but would never sell them cuz I like them. Sometimes drinking a bottle that is now worth $700 is a little shocking, but since I have never paid such a price, I can just revel in the value I am getting.

Sometimes drinking a bottle that is now worth $700 is a little shocking, but since I have never paid such a price, I can just revel in the value I am getting.

Agreed - and I think the only way I could bring myself to drink it, is by focusing on what I paid.

Two quick thoughts stemming from other posts in this thread: First - I do recall being approached by a wine shop owner and asked if I'd sell some wines he knew I had. I mentioned that I did not have a license to sell and he suggested that that would not be an issue. I realize don't go to that shop as much as I used to.
Second - while the best wine I've ever had did have some age on it (20+ years), I've most often been dissapointed by well-aged wine due, I think, to my overly high expectations.

Since I am trying to drink less nowadays, almost everything I buy goes into the cellar with the intention of bring it out when it has reached its peak.

A friend of mine however has taken to buying 2 cases of key wines he likes en premier (particularly key classified growths from Bordeaux) with the intention of selling one case a couple of years after they arrive. In some cases (pardon the pun) he has ended up effectively purchasing the first case for a fraction of the real cost. If the cases don't sell then he has two cases of a wine he really likes. I will admit I have been thinking about this strategy for the 2009 en premier campaign as I expect to see the prices head back up to 2005 levels. I will probably target super seconds and key fifth growths.

Since I am trying to drink less nowadays, almost everything I buy goes into the cellar with the intention of bring it out when it has reached its peak.

A friend of mine however has taken to buying 2 cases of key wines he likes en premier (particularly key classified growths from Bordeaux) with the intention of selling one case a couple of years after they arrive. In some cases (pardon the pun) he has ended up effectively purchasing the first case for a fraction of the real cost. If the cases don't sell then he has two cases of a wine he really likes. I will admit I have been thinking about this strategy for the 2009 en premier campaign as I expect to see the prices head back up to 2005 levels. I will probably target super seconds and key fifth growths.

You're in Sydney and pulling for the Saints? I'm in Oregon and pulling for the Saints.

Since I am trying to drink less nowadays, almost everything I buy goes into the cellar with the intention of bring it out when it has reached its peak.

A friend of mine however has taken to buying 2 cases of key wines he likes en premier (particularly key classified growths from Bordeaux) with the intention of selling one case a couple of years after they arrive. In some cases (pardon the pun) he has ended up effectively purchasing the first case for a fraction of the real cost. If the cases don't sell then he has two cases of a wine he really likes. I will admit I have been thinking about this strategy for the 2009 en premier campaign as I expect to see the prices head back up to 2005 levels. I will probably target super seconds and key fifth growths.

You're in Sydney and pulling for the Saints? I'm in Oregon and pulling for the Saints.

I have the game from the other night recorded to watch over the next couple of nights. I did however see the Saints v Giants game a couple of weeks ago. That was fantastic. The Saints absolutely annihilated the Giants (and I like the Giants). The arrival of Shockey has given them a toughness up front they previously lacked. I am guessing the Giants are wishing now they never traded him.