steel, and glass, indistinguishable from the ten stories of luxury lofts overhead. Wearing a lavender polo shirt, close-fitting jeans, and a little hair gel, I entered the Vintner’s Treasure to find myself in a combination tasting lounge and kitchen that would be agreeable to the most discerning of urban professionals. I sat only a moment before a smiling, fiftyish man in a gray linen sport coat walked over, introduced himself as Peter, then led me to an open office in the corner of the room where we sat opposite each other on matching black leather and chrome chairs.
“So, Mr. Landau, how may I help you?”
“Well, I’m really just on a fact-finding tour. The wine—it’s stored underground, I assume? That’s why it’s so safe?”
Peter looked a bit crestfallen. “Yes, everything is belowground, of course.” He pointed to a wide staircase. “One could use the stairs or the elevator, depending on how much product one was moving in or out.” He cleared his throat. “Did you have something particular in mind—with regard to a storage facility?”
“Security is my main concern. What if someone acquired my magnetic key and password?”
Peter either laughed or cleared his throat again. “That would just be the first stage. Before getting to the vault the thief would meet five layers of security doors providing the type of redundancy no criminal would want to contend with. Any fluctuation in conditions will at once notify our private guards as well as the police. And if you were still apprehensive, we provide an extra measure of protection—something extraordinary for those with the resources.”
“Currently, I have a small collection, mostly for consumption. I’m looking to expand my portfolio.”
He eyed me suspiciously. “What segmentation are you thinking about? Premium wines?”
Nice try, Peter. “That word ‘premium’ has such a subjective quality. I have an opportunity of possibly obtaining many cases of Lafite—as an investment.”
His face lit up. “We offer services for those desiring to diversify. Our professionals long ago recognized wine as an asset class, just like gold, silver, or art.”
“Excellent. If I’m going to invest, it would be specific vintages that have significant second market potential. A vintage with no more than, say, half a million cases produced.”
“Perhaps I could give you the name of a broker who could help you get started?” Peter handed me a card. “Using one of our brokers will make the transition quite seamless, practically from the supplier to your vault. He’s quite well connected—you should know.”
Peter held his gaze on me. “Okay,” I said. “ What should I know?”
“Investments in fine wine are only a minuscule part of the market. Over the years it has become common for many producers to hold back a limited number of cases—to age them. When these reserve wines come to market, the demand is quite high. The key is knowing when a reserved vintage will be offered.”
I raised my eyebrows. “And your boy gets the early bird specials.”
“As do a select group of others.”
I pretended to ponder Peter’s words before changing the subject back to security. “What about video surveillance or detection devices?”
“We have devices along the perimeter of the building, as well as motion sensors, and smoke- and humidity-measuring instruments—all standard for a facility of our caliber.”
“I apologize for belaboring this point, it’s just that a friend of mine has many wealthy clients, some of whom are deeply immersed in the wine culture. And when I mentioned my desire to start investing in fine wines, he cautioned me never to assume a storage facility is foolproof, and that an appropriate insurance policy would also be required.”
“Your friend is correct, which is why we include insurance as part of the storage contract. I think you’ll find the cost almost negligible. Of course, one can always over
“So, Mr. Landau, how may I help you?”
“Well, I’m really just on a fact-finding tour. The wine—it’s stored underground, I assume? That’s why it’s so safe?”
Peter looked a bit crestfallen. “Yes, everything is belowground, of course.” He pointed to a wide staircase. “One could use the stairs or the elevator, depending on how much product one was moving in or out.” He cleared his throat. “Did you have something particular in mind—with regard to a storage facility?”
“Security is my main concern. What if someone acquired my magnetic key and password?”
Peter either laughed or cleared his throat again. “That would just be the first stage. Before getting to the vault the thief would meet five layers of security doors providing the type of redundancy no criminal would want to contend with. Any fluctuation in conditions will at once notify our private guards as well as the police. And if you were still apprehensive, we provide an extra measure of protection—something extraordinary for those with the resources.”
“Currently, I have a small collection, mostly for consumption. I’m looking to expand my portfolio.”
He eyed me suspiciously. “What segmentation are you thinking about? Premium wines?”
Nice try, Peter. “That word ‘premium’ has such a subjective quality. I have an opportunity of possibly obtaining many cases of Lafite—as an investment.”
His face lit up. “We offer services for those desiring to diversify. Our professionals long ago recognized wine as an asset class, just like gold, silver, or art.”
“Excellent. If I’m going to invest, it would be specific vintages that have significant second market potential. A vintage with no more than, say, half a million cases produced.”
“Perhaps I could give you the name of a broker who could help you get started?” Peter handed me a card. “Using one of our brokers will make the transition quite seamless, practically from the supplier to your vault. He’s quite well connected—you should know.”
Peter held his gaze on me. “Okay,” I said. “ What should I know?”
“Investments in fine wine are only a minuscule part of the market. Over the years it has become common for many producers to hold back a limited number of cases—to age them. When these reserve wines come to market, the demand is quite high. The key is knowing when a reserved vintage will be offered.”
I raised my eyebrows. “And your boy gets the early bird specials.”
“As do a select group of others.”
I pretended to ponder Peter’s words before changing the subject back to security. “What about video surveillance or detection devices?”
“We have devices along the perimeter of the building, as well as motion sensors, and smoke- and humidity-measuring instruments—all standard for a facility of our caliber.”
“I apologize for belaboring this point, it’s just that a friend of mine has many wealthy clients, some of whom are deeply immersed in the wine culture. And when I mentioned my desire to start investing in fine wines, he cautioned me never to assume a storage facility is foolproof, and that an appropriate insurance policy would also be required.”
“Your friend is correct, which is why we include insurance as part of the storage contract. I think you’ll find the cost almost negligible. Of course, one can always over
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