I guess he is a man of independent wealth, to be able to afford a collection like that . As a wine connoisseur didn’t he want to drink some of the nicer stuff ?
He bought a lot en primeur and is good mates with Jasper Morris - and so would get tip offs. So if you, say, buy a Margaux before what were the Parker points (now the Wine Advocate points) come out because you know what they are going to be, you can make a small fortune
presumably he used it is as his pension fund - the wine was just what he happened to invest in - would be interesting to know what he spent and whether the return was good.
It’s being claimed this is one of the finest private collections in the world , is that correct ? I would have thought US billionaires , Russian oligarchs would have ?
if I have read this correctly he “bought “ most of it in 1985 , when he was 4 years call, so I imagine he was gifted it by way of inheritance?
They cancelled next day under the 14 day consumer selling blah blah. But by then BBR had already taken it out of bond and so couldn't restore it to my account so they honoured the trade.
£8 mill doesn't seem that obscene by the standards of the sort of rich aunts who get into wine. There must be billionaires with way bigger collections than that just because they can.
All washed up, seems an obscene amount of cash to spend/invest for someone who has to go to work, 5/6/7 days a week , unless as I say he was gifted it.
Ebitda... yeah he was defo fairly wide but was older, wiser and cooler than most of us non-London natives. Might have lived with his parents though... was a lot of fun and devastatingly bright. Good mooter.
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Dunno, but some people have more money than sense.
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I guess he is a man of independent wealth, to be able to afford a collection like that . As a wine connoisseur didn’t he want to drink some of the nicer stuff ?
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Apparently there were some world record breaking bids. So I can believe it sold well
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Even if he tripled his investment, that’s a lot of cash to be spaffing on wine that he won’t drink. Where does one store 6000 bottles?
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See thread passim
https://www.rollonfriday.com/discussion/ian-mill-qc-wine-auction
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??? Fair does what In square footage are we talking about? I just don’t understand a personal collection like this unless you are gonna drink it
or he may need the cash to fund his restaurant. It’s like having a collection of fancy cars and never driving them?
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He bought a lot en primeur and is good mates with Jasper Morris - and so would get tip offs. So if you, say, buy a Margaux before what were the Parker points (now the Wine Advocate points) come out because you know what they are going to be, you can make a small fortune
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Even if he only spent half that buying them, it does seem a fook of a lot of money for a guy who works for a living to have spent on wine.
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guess if you're really knowledgeable/know the right people Laz it works as an investment strategy
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presumably he used it is as his pension fund - the wine was just what he happened to invest in - would be interesting to know what he spent and whether the return was good.
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I think he used to speculate in wine quite heavily so it was a bit more than a hobby
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are they wasting assets? some of them won't be.
or does he do enough of it to be a trade?
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maybe he needed the sale before the election so if they are chargeable to cgt he wouldn't get clobbered if the labour party win
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Say he bought them for even £4mn that's £8mn in taxable income.
Fair fooks / perhaps a bit of what Res ipsa said.
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I do recall the occasion when he turned the entire output of one vineyard round in a morning selling it to some oligarch
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His was held with BB&R. Storage of 6000 bottles, assuming all full or half cases, would cost him £12,600 pa
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holy shit. Good for him. I know a lot of grateful clients used to call BBR and add to the collection (I sat next to him at a BBR cellar dinner once)
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Point of order, Jasper doesn't buy for BBR anymore.
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Hey fozzie, did you hear about my fat finger trade on BBR?
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are you winos fond of 67 Pall Mall? Even without any interest in wine, I like the place (good membership terms currently)
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No, Buzz, do tell.
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Yep, one of my clients in the trade is a member there. I bloody love that side room with the wine walls on all sides and the table in the middle.
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Had a Gruaud-Larose 2010 up for sale at £350. Bidder put in a bid at £3150 which was automatically accepted.
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Oooooooh...
Did they try to weasel out of it??
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Hopefully Corbyn will stamp on this kind of obscene excess
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It’s being claimed this is one of the finest private collections in the world , is that correct ? I would have thought US billionaires , Russian oligarchs would have ?
if I have read this correctly he “bought “ most of it in 1985 , when he was 4 years call, so I imagine he was gifted it by way of inheritance?
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They cancelled next day under the 14 day consumer selling blah blah. But by then BBR had already taken it out of bond and so couldn't restore it to my account so they honoured the trade.
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Nick De Marco QC of the same chambers must be frothing with excitement or incredibly jealous . He has his own vineyard in Italy .
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£8 mill doesn't seem that obscene by the standards of the sort of rich aunts who get into wine. There must be billionaires with way bigger collections than that just because they can.
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All washed up, seems an obscene amount of cash to spend/invest for someone who has to go to work, 5/6/7 days a week , unless as I say he was gifted it.
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He definitely did not buy all of it in 1985. I imagine instead of contributing to pensions, he put the cash in wine.
de Marco's vineyard is a much smaller affair - as is fitting for an ardent Corbynista
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Indeed Heff , what do you expect he claims he used to be a bouncer . He does think he is a celebrity though
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I was in the same year as NdeM reading law at university... colourful character...
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In house he seems a bit of a wide boy to me with a huge chip on his shoulder?
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Ebitda... yeah he was defo fairly wide but was older, wiser and cooler than most of us non-London natives. Might have lived with his parents though... was a lot of fun and devastatingly bright. Good mooter.
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