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huge experience in the world of fine wine and in Managing
Director Simon Larkin have a renowned Master of Wine, who
has won the prestigious Madame Bollinger Medal for Tasting
Excellence, has been interviewed and used to contribute to
both Bloomberg’s television channel, and their news website,
when it comes to wine and wine investment and has been
described by Spears Magazine as one of the ‘new generation
of British wine experts’.
For now, rather than going on myself, I thought I would
throw the matter into the hands of Atlas themselves. I caught
up with Richard O’Mahony, Atlas’s Commercial Director and,
on behalf of those of us who live in the north west of England,
threw a number of carefully tailored questions at him, both in
relation to Atlas and the strange times we now find ourselves
in!
As the name Atlas Fine Wines indicates – you are all about
‘fine wine’. For you, what is ‘fine wine’?
There are many definitions (and abuses) of the term fine wine.
For us, a fine wine is a wine that has a secondary market, or
tradable, value. To this end we analyse changes taking place
in the market, assess changes in wine regions and with
producers. We make our own judgements on value, both for
drinking and for future resale potential. For us the inherent
quality of the wine is critical since, without this, we do not
believe that value is likely to increase over time.
When talking about ‘fine wine’, what sort of price range do
your wines cover?
For us, prices are generally upwards of £25 per bottle. That’s
our market, our niche if you like. We don’t try to operate at all
price levels. The most important thing to consider, though, is
value and not price. The price at which any given wine starts
to distinguish itself as more than just generic wine will vary
from country to country, region to region. The crucial point
here is that we assess value whenever we taste, or offer, and
communicate that to our clients.
What services does Atlas provide and what sets you apart
from other wine merchants?
Atlas was set up to provide a first-class service to clients. We
operate on a broker-like model, which gives us independence
and impartiality over the traditional merchant model. We
offer the wines we believe in, rather than foisting unsuitable
wines on unsuspecting drinkers. Simon Larkin MW and I
believe that by working to understand the preferences and
interests of individual clients we are better able to source wines
that appeal and as a result 90% of our sales are bespoke to a
client. The services we offer are a logical consequence of this.
We build trust with our clients so we can help them create a
portfolio that will grow. We have created a niche for ourselves
based on impartiality and informed advice. We have elevated
professional wine storage, protecting stock in the client’s
name, rather than holding it in the name of the merchant. We
manage portfolios so that their value is preserved and grown;
we believe it is as important to advise a client when to sell as
when to purchase. Too often the focus is solely on the latter.
What level of knowledge does a client need to have prior
to starting a collection with you? Does this differ for
consumption or for investment?
No prior knowledge is required. While a large proportion
of our clients have been advised by Atlas since inception in
2011 (and by me and Simon in the years leading up to that,
as we have each been in the wine trade since the early 1990s),
we are always happy to meet with new clients who may be
interested in our advice. We do not advertise as such. The vast
majority of our clients come to Atlas by referral. We have a
strong database of long-standing, loyal, clients. I could give
you numerous examples of individuals new to Atlas, each of
whom has embarked on a different route with us and is now
themselves a happy and loyal client. This is all down to the
flexibility of our approach. One such client pleaded an initial
limited knowledge of wine, but having embraced our events
calendar and having attended multiple dinners and tastings,
now owns an enviable collection of fine wine to enjoy over
many years. Another client had heard much about wine
investment, but had not dipped a toe. After several months
of communication with me, they gained confidence in the
dynamics of the market and began a collection, from which,
within a year, a parcel of one wine was sold at more than fifty
percent gain and replaced with a new set of wines to keep
the value of the collection growing. A great result all round.
We also take on clients who have kicked off with another
merchant, but do not feel valued or well advised. One client
recently transferred their collection to us. We rationalised
the portfolio in line with the request to follow our strategy.
The realised funds were reinvested in new. Key in all these
examples is an on-going, direct, personal relationship with
the client to ensure they feel, and are, looked after.
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