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For this installment, we are addressing wine and fur. We’ve combined these two categories because they require similar conditions for proper storage. And, if not stored properly, their value can drop significantly.
When we go into a client’s house, we often see collections of wine in various states of storage. The best temperature for wine storage is between 50º and 60º, with 65% humidity and the bottles lying flat or at a slight angle to ensure the cork is covered completely by the wine.
Wine that is stored improperly can easily be ruined. The difficulty is in knowing whether that has occurred, as it’s not until the bottle is opened that it becomes obvious.
Wine consultants are easily able to assess and value a collection for private sale, and many auction houses include wine sales throughout the year or offer online solutions.
Fur can also be a temperature-sensitive item. While current furs are constructed in a way that requires less maintenance, older ones are very sensitive to temperature fluctuations in storage. Stored improperly, older pelts tend to dry up, rendering them unusable.
Buyers, however, are still interested in furs because they can be transformed into reconstructed fashion items, such as a vest or jacket, along with decorative items, such as throws or pillows.
Maintaining your fur properly will support its value over time, but, like art and jewelry, fur is still subject to fashion trends.
As with most luxury items, fur and wine are subject to trends. That’s true not only for resale value, but also for sharing with family, as personal taste is subjective and also generational. Items that used to be handed down to the next generation aren’t often wanted or appreciated anymore.
We feel the best way to address your luxury items is simply to enjoy them. If it’s not practical to use them, because of a life-change or lack of space for proper storage or display, it’s best to follow these steps:
If this all feels overwhelming, we understand. The CMFTO team is always here to address your needs. We’ll work with you every step of the way, helping to sort through your various collections and connecting you with the right buyers and appraisers for all of your luxury items.
All my best,