The world largest wine collections, where bets are placed on its appreciation

Even in the world of wine, there is a real market, with its data and urgencies, providing a snapshot of a constantly evolving landscape shaped by trends and expectations (starting with the Istat figures regularly analyzed by WineNews), especially in an era such as the one we are living through, marked by declining consumption and complex geopolitical developments. Alongside it, there is the secondary market for collectible wines, the fine wines sector, monitored first and foremost by Liv-Ex, the world leading trading platform. Its flagship index, the Liv-Ex 100 (which we follow closely), is overwhelmingly dominated by the great French wines of Burgundy, Bordeaux, and Champagne. However, the Italian wines currently included in this benchmark are Barolo 2019 by Bartolo Mascarello, Barolo Falletto Vigna Le Rocche Riserva 2016 by Bruno Giacosa, Barbaresco 2019 by Gaja, Barolo Monfortino Riserva 2015 and 2019 by Giacomo Conterno, Masseto 2021 and 2022, and Ornellaia 2021 (the Frescobaldi Group), Sassicaia 2016, 2021 and 2022 by Tenuta San Guido, Solaia 2021 and Tignanello 2021 and 2022 by Marchesi Antinori, and 100% Sangiovese Igt Toscana 2020 by Soldera Case Basse.
These are the wines which dominate the portfolios of investors and the world leading auctions. They are wines which no serious collection can be without, alongside, to name just a few examples, the legendary five Bordeaux First Growths (Château Lafite, Château Latour, Château Margaux, Château Mouton Rothschild, and Château Haut-Brion) and the iconic wines of Burgundy, a far more fragmented region whose cult domaines, such as Romanée-Conti, Jayer, Leroy, and Rousseau, produce extremely limited quantities. Historically, these wines have proven to be among the bottles that achieve the most significant appreciation in value over time.
Founded in 1969 in Moldova, Mileștii Mici was recognized by the “Guinness World Records” in 2005 as the largest winery in the world, thanks to the more than 2 million bottles stored throughout its 55 kilometers of underground galleries. According to “Wine Enthusiast”, however, some of the world greatest wine collections include the 500,000 bottles of Bern’s Steak House in Tampa, Florida, featuring rarities such as an 1845 Château Gruaud Larose; the 300,000 bottles housed in the grand 19th-century cellar of the Hôtel de Paris Monte-Carlo, beloved by Prince Rainier of Monaco and Grace Kelly; and the 250,000 bottles of The Graycliff Hotel in Nassau, Bahamas, where owner Enrico Garzaroli, of Italian origin, assembled treasures such as an 1865 Château Lafite and even a 1727 Rüdesheimer Apostelwein. The list continues with the 130,000 bottles that make up the private collection of Marqués de Riscal, one of Rioja (in Spain) oldest and largest wineries, preserving every vintage since its first harvest in 1862. In recent years, “wine libraries” have also become increasingly more common among major Italian wineries, particularly those with prestigious and highly valued reserve collections. One example is Biondi-Santi, which preserves its historic 1888 Riserva at the Greppo estate, the birthplace of Brunello di Montalcino. Other remarkable collections include 100,000 bottles of the Latour Restaurant at Crystal Springs Resort in New Jersey, focused primarily on France, Italy, and California; from 30,000 bottles of Brush Creek Ranch in Wyoming, home to one of the largest collections of Bordeaux First Growths; to 25,000 bottles stocked by the historic Michelin-starred restaurant Don Alfonso 1890 of the Iaccarino family in Sant’Agata sui Due Golfi, with over 1,300 labels and a particular emphasis on the wines of Campania, Piedmont, and Tuscany; up to 6,800 bottles of Antoine Restaurant in New Orleans, which rebuilt its collection after Hurricane Katrina had destroyed it. In Italy, according to “Wine Spectator”, 6 wine lists rank among the country finest, including those of the three-Michelin-starred Enoteca Pinchiorri in Florence and La Pergola at the Rome Cavalieri, led by chef Heinz Beck in Rome; the Michelin-starred Ristorante Cracco in Milan Galleria Vittorio Emanuele; La Ciau del Tornavento in Treiso, headed by chef Maurilio Garola; to Antica Bottega del Vino in Verona, owned by Famiglie Storiche consortium of Amarone producers and managed by host Luca Nicolis; and Il Poeta Contadino in Alberobello, run by Leonardo Marco.
The global phenomenon of wine collecting therefore revolves around great wines capable of significantly increasing in value. Indeed, there is even an investment asset class known as Swag (Silver, Wine, Art, Gold), composed of alternative assets that can diversify more traditional portfolios of bonds, stocks, and other securities. Wine is the result of a tangible activity, enjoys exceptional longevity, and is available only in limited quantities. Its investment performance is relatively uncorrelated with stock market movements, and even a sovereign debt default would not alter these intrinsic characteristics. Yet, according to a WineNews analysis, the critical issue remains that achieving substantial returns from investments in fine wine requires not only a good or excellent level of expertise, but also a highly specialized network of relationships. The fundamental secret lies in acquiring these wines before their official release to the market, which inevitably involves a degree of speculation. The underlying logic is essentially that of collecting: wine is an asset capable of improving in quality over time, with naturally limited availability that becomes even scarcer as bottles are consumed. Equally important is the role of a true secondary market, represented by auction houses, whose results are often amplified dramatically by the media. In short, this is a market and a world which must be approached professionally, and with a significant amount of capital.