How Long Should You Hold a Wine Investment?
The right holding period depends on the wine, the price paid and when you may need the capital, rather than on a rule of thumb. This guide looks at what the evidence says about how fine wine prices behave as wines mature, why a short hold carries more risk, and how we plan an exit from the start.
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What the Evidence Says About Time and Price
The most detailed long-run study of fine wine prices, by Elroy Dimson, Peter Rousseau and Christophe Spaenjers, followed the Bordeaux First Growths from 1900 to 2012. They found that high-quality vintages appreciated by an average of 2.7% a year over their first 40 years as the wines matured, after which prices levelled off, and that young high-quality wines which were still maturing gave the highest financial return (Journal of Financial Economics, 2015). Across the whole period they estimate a real return of 4.1% a year after storage and insurance costs.
Time matters too because prices do not move in a straight line. The Liv-ex Fine Wine 100 has fallen almost 25% from its 2022 peak and closed 2025 down 2.5% (Knight Frank, April 2026), yet the same index rose 34.1% over the ten years to the end of 2025 (Decanter, June 2026). An investor who bought in 2021 and needed the money back in 2025 would have been selling into a falling market, while one with a ten-year horizon has had room to wait. Past records are no guide to what comes next, but they show why the length of the hold usually matters more than the timing of the purchase.
How We Plan a Holding Period and an Exit
We plan for a holding period of ten years or more, and we only advise committing capital you will not need within that time. Within that horizon the right moment to sell varies by wine, because a price is shaped by how far the wine has matured, how many bottles remain in circulation and how keenly collectors want it. A young claret still years from its drinking window and a mature Burgundy approaching it call for different decisions, and our page on Bordeaux wine investment explains what drives prices in that region.
Selling is planned from the day a wine is bought. Fine wine is sold through the secondary market rather than on an exchange, so a sale usually takes weeks rather than days, and a wine with a deep market and documented provenance sells more readily than one without. Keeping every bottle in bonded storage from purchase to sale protects its condition and its value, as our guide to wine storage explains, and our article on fine wine exit strategy looks at the options when the time comes.
Our founder has worked as a professional wine buyer since 2008, through the financial crisis, the disruption of 2020 and the correction that began in 2022, and has advised investors since 2022. That experience shapes how we read price momentum and auction results as a holding approaches its exit, although no one can identify a peak with confidence and we do not claim to.
We are an independent advisory based in Geneva and we hold no stock. Every wine is bought at its documented cost, with our commission disclosed separately, so you can always see what the wine cost and what we earned. How It Works sets out the process in full, our guide to portfolio diversification explains how the holding period fits a wider allocation, and our wine investment page explains our approach as a whole.
Further Reading on Holding and Selling
Frequently Asked Questions
How long should I hold a wine investment?
We plan for ten years or more, and we only recommend committing capital you will not need in that time. The right moment to sell within that horizon depends on the wine, how far it has matured and the market when you come to sell.
Is five years long enough?
It can be, but it leaves little room to wait if the market is weak when you need to sell. The Liv-ex Fine Wine 100 has fallen almost 25% from its 2022 peak, which is why we prefer a longer horizon.
Do wines keep rising in value as they age?
Not indefinitely. Long-run research on the Bordeaux First Growths found that high-quality wines appreciated most while they were still maturing, and that prices levelled off once they were fully mature.
How do you decide when to sell?
We compare the wine’s price with its own history and its peers, look at recent auction results and at how far it is into its drinking window, and weigh all of that against your own need for the capital. No one can time a peak precisely, so we aim to sell within a sensible window rather than chase the top.
How long does a sale take?
Usually weeks rather than days, through the secondary market. Wines from producers with deep secondary markets and full provenance records sell most readily.
What happens if I need to sell early?
Wine can be sold at any time, but selling early or into a weak market usually means accepting a lower price. That is why we plan an exit with every investor from the start.
