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Step 1
Distinguish between "collectible" and "cult" wines. Collectible wines tend to be good labels that are purchased while young and then allowed to age until they reach peak flavor and value. Many collectible wines are more easily found, as well as less expensive, than cult wines. Cult wines are rare finds because they are immediately drinkable, are produced in extremely small quantities and are rated at 95-plus points by a reputable source.
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Step 2
Read wine enthusiast publications and regularly check wine aficionado web sites for information about the latest cult wines, their release dates and quantities and for live and Internet cult wine auctions. Many Internet sites have detailed descriptions, ratings and costs of noteworthy vintages.
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Step 3
Find a dealer offering futures so that you can place an order for cult wine before it is bottled. You may also be able to get a discount from the winemaker for pre-ordering. Because competition to purchase cult wine is intense, this will give you an advantage in procuring the labels and prices.
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Step 4
Set a budget and stay within it. Often the media buzz that surrounds a newly released cult wine exponentially inflates its price at auction. Some bidding wars have caused bottle of cult wine to sell for over $3,000. Remember that, for that much money, you can buy many other bottles of wine, including high quality, cutting-edge cult wines.
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Step 5
Buy cult wines that you enjoy and drink them. Many California wines do not necessarily improve with age and most attempts to resell cult wines for profit are risky at best. Licensing laws in many areas prohibit private resale of wine, plus much of the attraction of cult wine comes from the publicity at the time of its release.
