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Wine, whether corked or screw top, continues to slowly oxidize in the bottle. Kept at proper temperature the aging can alter a wine’s flavor in a desirable way. Not kept at proper temperature, it will wreck the wine.

Different wines/varietals benefit from aging differently. Some wines are generally considered best young, like a New Zealand Sauv Blanc, as people are usually looking for bright acidity when selecting one. As a rule of thumb reds benefit from longer aging more than whites. But you can age whites, too. My favorite bottle I’ve consumed was a 10-year-old white Bordeaux.

And within reds, those with higher tannin benefit from longer aging. I like to tuck Willamette Valley Pinot Noir away for five years. But, you can age California Cab Sauv, red Bordeaux, Cotes du Rhone, etc. for a decade plus.

And none of the above is to say you need to age wine after purchase. Here’s a good video looking at different vintages from the same wine:

https://youtube.com/watch?v=Ulhu86IIkt4

(Any wine you plan to drink within six to nine months after purchase will be just fine at room temperature in your home.)