Wine collections are growing, and so are their value, in many cases. Indeed, based on the results of a recent Sotheby's wine auction, held in Hong Kong in early October, the prices of collectible wines are breaking records.

One imperial (six litres) of Château Pétrus 1982 realized a world auction record price of $93,077, while a case (12 bottles) of Château Pétrus 2000 sold for $55,846. Three bottles of a 1992 Screaming Eagle Cabernet Sauvignon, a winery in Oakville, California, sold for $27,923.

If you have a wine collection, or if you are thinking of building one, here's how to care for your collection, according to the experts at Fireman's Fund Insurance Company's Wine Collector Management Services.

Keep an eye on your climate control
A temperature of 55 degrees Fahrenheit and a relative humidity of 60% to 65% are ideal for long term wine storage. The cool temperature slows the aging process, while the humidity prevents moisture inside the wine bottle from moving into the cork and eventually evaporating into the air. Keep in mind that ideal temperatures do vary somewhat depending on the type of wine you are storing. Attics and garages are not ideal places to store wine, as temperatures can fluctuate greatly in these locations.

Limit your collection's exposure to light sources
A dark room is best for wine storage. Fluorescent light is not believed to be harmful.

Wines should be kept in a stable environment
Vibration is harmful to wine, as it disturbs the sediment. Keep the bottles in a horizontal position.

Back up your power supply
Your wine collection could be at risk during a sustained power outage. A permanent back-up generator will help protect your investment.

Consider renting a storage space
If you lack adequate space to store your collection, professional wine storage facilities are available in most major cities.

As I've mentioned before, I have a weakness for any kind of auction where all the lots come from one impassioned collector. Much of a person's character is revealed in the things they have deemed precious. Steve Verlin, one of the founding partners of the New York restaurant Veritas passed away in 2006 but he left behind an expansive wine collection which is being auctioned on May 4th and 5th by Hart Davis Hart Wine Co. in Chicago. His wine collection rivals the Park B. Smith auction in terms of the amount of quality French wine.

Verlin was a true wine lover and often created non-traditional wine pairings such as hot dogs with the Spanish classic Unico from Vega Sicilia, popcorn (popped in truffle oil) with his many top Champagnes, and Krispy Kreme donuts with his Sauternes from Château d'Yquem. To honor Verlin Hart Davis Hart will duplicate some of these pairings at the auction. He was also passionate about wine storage and his subterranean cellars were strictly temperature and humidity controlled. The auction includes many French wines from Bordeaux, Burgundy, Rhône and Champagne. He and his wife Grae also collected large format bottles including imperials, jeroboams and double magnums. Wines up for auction include the 1970 Pétrus, 1982 Cheval-Blanc, 1989 Haut-Brion, 1971 La Tâche, DRC, 1978 Châteauneuf du Pape, Rayas, Dom Perignon and Cristal. The presale estimate for the Verlin Collection is $4,000,000-$6,000,000.

The most unique wine collection in the world has been stolen. In July, the Ulriksdals Wärdshus restaurant in Sweden, lost their complete collection of Bordeaux wines was stolen. The collection featured wine from Château Lafite Rotschild, Château Mouton Rotschild, Château Latour, Château Margaux, Château Haut Brion and Château d'Yquem. The collection of over 600 bottles of wine included almost every vintage from the 18th Century. The oenophile thieves were well-prepared and packed up the 600 wine bottles into boxes and put them into a van outside the garden entrance. They also took the tape from the surveillance and used gloves. The collection is worth close to a $500,000.

[via Sveriges]