A recent spirited discussion has made me ponder this subject anew. An esteemed senior member; cdr raised this matter back in 2008, but I thought it might be worth a re-visit given the passage of time.

First, let me posit a definition of flipping for the purposes of this poll. If you have an issue with the definition....well, it is my poll after all....

Flipping: Purchasing wine(s) with the specific intent of re-selling said wine(s) for profit with no intention of drinking it at the time of purchase.

PH

Question:
Have you ever flipped wine?

Choices:
Yes
No

 

I have not, although I don't have any problem with the concept. I have traded wines after sale. I've never sold a bottle of my wine at any price, fwiw.

PH

quote:

Originally posted by PurpleHaze:
I have not, although I don't have any problem with the concept. I have traded wines after sale. I've never sold a bottle of my wine at any price, fwiw.

PH

Same here. I don't have a problem with it, but I buy wines to drink not sell. I almost sold off some 08 Lafites that I bought for $200 but it didn't work out. Would have just turned around and bought a different wine so it wasn't a flip for pure profit.

I have not flipped for profit. I'm in it for the long haul. Just having storage issues. Sometimes after cellaring a few years, a wine may head in a different direction from my palate, or vice versa. Trading wines has been a great option.

too funny


Nope. Never 'flipped' a wine. Always purchase with the intent to drink.
I have traded a handful of times.

Nope, never.

quote:

Originally posted by The 291:
Nope, never.

Using a borrowed laptop again, mon ami?

PH

quote:

Originally posted by gigmoney:
I have not flipped for profit. I'm in it for the long haul. Just having storage issues. Sometimes after cellaring a few years, a wine may head in a different direction from my palate, or vice versa. Trading wines has been a great option.

That's called cellar management, gig....

PH

quote:

Originally posted by PurpleHaze:

quote:

Originally posted by The 291:
Nope, never.

Using a borrowed laptop again, mon ami?

PH

I'm thinking about retiring wine+art.

quote:

Originally posted by PurpleHaze:

quote:

Originally posted by gigmoney:
I have not flipped for profit. I'm in it for the long haul. Just having storage issues. Sometimes after cellaring a few years, a wine may head in a different direction from my palate, or vice versa. Trading wines has been a great option.

That's called cellar management, gig....

PH

More like a need to open many bottles this winter, or fear my worst enemy...
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Offsite Storage

quote:

Originally posted by The 291:

quote:

Originally posted by PurpleHaze:

quote:

Originally posted by The 291:
Nope, never.

Using a borrowed laptop again, mon ami?

PH

I'm thinking about retiring wine+art.

It's gonna kill your post count....

PH

quote:

Originally posted by GlennK:
Same here. I don't have a problem with it, but I buy wines to drink not sell. I almost sold off some 08 Lafites that I bought for $200 but it didn't work out. Would have just turned around and bought a different wine so it wasn't a flip for pure profit.

You should have.
We hammered a six pack for $14,000 back in June of 2011, but that boat is long gone.....

I have not. However, I have bought wine on recommendation or reputation, tried it, didn't like it and later sold at a profit. I did not continue to buy said wines.

I voted yes, but only because of 2003 Latour. I found a case at Costco for $250 each ($3k for the case), and what was I supposed to do? I bought it all, then flipped 5 to pay for all 12. Can I be faulted for that? I was a victim.

Of course, who hasn't.

Never flipped a single bottle. Have sold some of my bottles at my own cost, but have yet to profit even a dollar on any wine. As to whether I have a problem with it... people are free to do as they please, but I am not a fan of it to be honest.

Never flipped for profit. I have sold wines to or shared allocations with friends at cost. Tempted to part with some bottles of Lafite. Crazy money being offered for a while. I am glad I didn't cave. I look forward to enjoying them with friends when they mature.

While I've sold wine, many at a profit, I've never purchased anything with the intent of selling. It's all been about right-sizing my cellar and shifts in preferences.

The 291, keep in mind that while Paul has changed his handle, he does still get referred to as tlily from time to time (and remains tlily in my mind).

I'm good at flipping for a loss!

When I bought a friends Cayuse allocation, I had to justify to my wife how much they would go for on the secondary market. That was two years ago, but somehow I've never gotten around to selling any of them.
Oh, well.

That said, a few years ago I did buy a bottle of '02 Quilceda Creek at a good price. I had every intention of drinking it. Then the first 100 point score came out three months later, and the value tripled overnight. How could I not sell it? I did use the funds to purchase more wine, however.

I was expecting to consume the '02 first growths that I'd acquired when they were initially released. But the numbers were too insane during the "Bordeaux bubble" 12-18 months ago for me to ignore. An 800% return (I lucked out and sold near the peak of the market) on '02 Lafite meant I could buy plenty of bargains in other varietals......

I have always bought to experiance and enjoy.

The one exception was a .750 of 1988 Mouton. Paid approx $95c in /92 and returned it (leaking cork) to the local monopoly 6 years later for $500c.

Yes, it felt good at the time because: a) I wasn't sure they would even take it back and b) I would've been happy with a refund of the original purchase price.

Started regretting it on the walk back to my car and still wish that I had just pulled the offending cork and given it a go!

Never bought wine for flipping. However i might sell parts of my whisky collection one day, or altenatively the heirs will be happy selling those on ebay. I can't drink it all by myself for sure. The price for some limited release stuff grows rapidly, eg some Highland-Park Capella once bought for 50£ now sells at a few 100s.

quote:

Originally posted by Jon B:
Of course, who hasn't.

It appears 75% have not. (see poll)

quote:

Originally posted by wine+art:

quote:

Originally posted by Jon B:
Of course, who hasn't.

It appears 75% have not. (see poll)

It was an assertion much like Jon B's that caused me to post this poll. When I thought of the people I knew who were into wine, I couldn't think of anyone who had.

quote:

Originally posted by TPEwinedrinker:

I am not a fan of it to be honest.

This surprises me. Why? Are there other commodities that you'd frown on being flipped?

PH