Ep 364: The High-End World of Rare Wines with Dave Parker of Benchmark Wines
In this episode I welcome David Parker, CEO and Founder of Benchmark Wine Group , which is the largest online seller of fine and rare wines for wine retailers, restaurants and collectors worldwide. Benchmark does auction, retail, wholesale and import.
Dave is an unusual guest for us in that he specializes in a part of the market that most of us, as normal wine people, know nothing about -- fine and rare (and VERY expensive) wine! He is a great guest and openly shares everything from how Benchmark procures wine to how they ensure the wines are authentic (provenance) to the important things to know about collectible wine, should you decide to dip into this world.
As a bonus, David tells us about the Rudy Kurniawan scandal (he knew Rudy!) and he shares great information about how the market works to keep that kind of fraud out of rare wine.
As an important program note: I do need to thank the Patrons for encouraging me to have Dave on as a guest and for providing some great questions for this interview. If you are interested in becoming a Patron to have opportunities like this and to take part in other exclusive conversations, you can join for as little as US$20 per year!
Here are the show notes:
* Dave tells us how Benchmark sources wine, how the wine is evaluated and what makes it a good candidate for his portfolio.
* We discuss provenance/authenticity guarantees, fraud, and how they ensure the wines are in great condition when Benchmark buys them. We discuss the sources of these wines -- from restaurants to private collectors and how Benchmark knows exactly what will work for them.
"Bordeaux Wines at Fareham Wine Cellar" by Fareham Wine is licensed under CC BY 2.0
* Dave tells us how to begin investing in wine – the types of things people should collect, what you need to start a collection, and how wines become collectible over time. I ask him if these wines are actually worth the money (and he gives a diplomatic answer!)
* Finally, Dave tells us what makes a wine age-worthy and we have a discussion about tariffs and what that may do to the rare wine market.
If you're interested in learning more or starting somewhere, check out Benchmark's site. They have a guarantee of quality, so if you decide to invest it's less risky.
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