capital gains

originally posted by Oswaldo Costa:
The Guigal is probably good at this point, but I'd sell the Guigal, buy lots of goodies with the money, and keep the other two for transcendental occasions.
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zactly
 
What is more important to you, $3K in your bank account, or the memory of having enjoyed these wines?
 
I have had both of the burgs, the bachelet several times. It isexcellent but presently sleeping I suspect ( based on my experience with other 1999 Burgundies not with that particular wine). After trying the Mugnier I sold my remaining bottles andthey were worth considerably less then. So if you are inclined to keep any ofthem I would keep the Bachelet. Or you could sell it and use the proceeds to visit DC and drink one of mine.
 
Taxes may also be a consideration. Wine is a collectible so the federal income tax rate on the gain is 28%, and there is also likely state tax on the gain.

That said, I have similar thoughts about my 1990 Mugnier Musignys, but not my lone 1991 Gentaz-Dervieux. Unfortunately I seem to have consumed all of my 1999 Bachelet Charmes many years ago, but I don't remember drinking them all so I hold out hope that a bottle or two is lurking in a mislabeled box somewhere in my cellar.
 
Jeff, I feel your pain. This is a constant struggle for me. I guess I've been lucky enough to get in on the ground floor with some wines that have risen dramatically and in the past, I've had a comfort threshold of lower than $1000. The other risk besides not liking them is that they could be corked. I've had that happen too many times.

That being said, when I was talking to Eric Texier about potentially selling old Verset, he told me to do so would be bourgeois asshole behavior of the highest order given that Verset barely eeked out a living during his years making wine. He said it would be OK to sell Allemand (and by extension things like Chave, Conterno, Rougeard) because they had done alright. At first, that logic struck me as odd, but now I sort of feel it more than see it.

Getting to the particular wines, I'm not hyped on any of them that much (but would be happy to drink yours), so I'd sell them.

Mike, drink that Gentaz. It won't get any better and it is a special wine. Better yet, bring it to Durham!
 
So,if you don't sell the wine, will Verset, by some Einsteinian time space bend, have done better? If so, then, of course, M. Texier will have a point. On the other hand, you could sell the bottle and donate your profit to Verset's heirs,if that would make the world a better place. You, of course, should also donate the c60 million from that hypothetical Van Gogh to the Van Gogh descendant that seems to you nearest in line.
 
it seems certain that verset was making wine as a beverage of pleasure to be consumed as such--and likely with pretty girls--and within that intent, using his creation instead for personal monetary gain would circumvent and betray that intent. hence texier's observation. but yes, at this point, verset can't give a shit.
 
originally posted by Ian Fitzsimmons:
Where do you go to sell individual bottles like this? Winebid.com?
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In NYC, this is easy: most (some? all?) of the good stores will accept bottles from local professional storage.
 
originally posted by Jonathan Loesberg:
So,if you don't sell the wine, will Verset, by some Einsteinian time space bend, have done better? If so, then, of course, M. Texier will have a point. On the other hand, you could sell the bottle and donate your profit to Verset's heirs,if that would make the world a better place. You, of course, should also donate the c60 million from that hypothetical Van Gogh to the Van Gogh descendant that seems to you nearest in line.
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It is karmic, not logical, dear p'fessor.
 
originally posted by Jeff Grossman:
originally posted by Ian Fitzsimmons:
Where do you go to sell individual bottles like this? Winebid.com?
Click to expand...
In NYC, this is easy: most (some? all?) of the good stores will accept bottles from local professional storage.
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Well. That amends the calculation. The case for drinking is there, however, imho.
 
originally posted by Jeff Grossman:
originally posted by Jonathan Loesberg:
So,if you don't sell the wine, will Verset, by some Einsteinian time space bend, have done better? If so, then, of course, M. Texier will have a point. On the other hand, you could sell the bottle and donate your profit to Verset's heirs,if that would make the world a better place. You, of course, should also donate the c60 million from that hypothetical Van Gogh to the Van Gogh descendant that seems to you nearest in line.
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It is karmic, not logical, dear p'fessor.
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I don't think there is even a sufficient connection between the money you can get know and Verset to count as Karmic. Undervaluing what Verset wrought might bring bad karma. But selling the wine doesn't do that, really. Arguably, buying the wine for $8 a bottle, as I did back in the late 80s in a bin sale is more of an insult to him. But I did like the wine.
 
Share the bottles with others, especially younger folks in the trade (from grapegrowers to sommeliers), and make the wine world a better place.
 
Yesterday at a lunch with Mike Grammar, Cole brought an 81 Leoville las cases, which the sommelier, who was younger than the wine, was thrilled to taste. So I see the value of the above suggestion. But do sommeliers not typically get to taste rare wines? I had the impression they did. Sharing with younger folks, tout court, however, does seem like a good idea.
 
originally posted by robert ames:
it seems certain that verset was making wine as a beverage of pleasure to be consumed as such--and likely with pretty girls--and within that intent, using his creation instead for personal monetary gain would circumvent and betray that intent. hence texier's observation. but yes, at this point, verset can't give a shit.
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Pretty girls? Most of the winenuts I see drinking Verset are some pretty ugly grown-up men!
 
originally posted by MarkS:
originally posted by robert ames:
it seems certain that verset was making wine as a beverage of pleasure to be consumed as such--and likely with pretty girls--and within that intent, using his creation instead for personal monetary gain would circumvent and betray that intent. hence texier's observation. but yes, at this point, verset can't give a shit.
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Pretty girls? Most of the winenuts I see drinking Verset are some pretty ugly grown-up men!
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first hand reports from those i know that visited verset back in the day noted that his assistants were consistently young, female, and beautiful. and no doubt they drank verest when the day was done.
 
originally posted by Jeff Grossman:
originally posted by Ian Fitzsimmons:
Where do you go to sell individual bottles like this? Winebid.com?
Click to expand...
In NYC, this is easy: most (some? all?) of the good stores will accept bottles from local professional storage.
Click to expand...

Consignment or outright sale to a resto is also a good option. And you avoid most of the retail-to-wholesale haircut.

I'd vote with O and Scott, if the sale path appeals. But the sharing with promising youngsters point resonates strongly with me, as I benefited from similar acts in the prior century. On the whole, I'd probably sell the LaLa and share the JFM with some (interested) youngsters and drink the Bachelet in 5-10 years with a few very good friends.
 
originally posted by Yixin:
Share the bottles with others, especially younger folks in the trade (from grapegrowers to sommeliers), and make the wine world a better place.
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I'm not sure I get how "the trade," which has made so many wines so expensive for us civilians and which is basically on a 24/7 IV drip of freebies financed by those same civilians, is more worthy of such beneficence than the rest of the younger folk.
 
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