Wine Peeps is an independent wine blog dedicated to helping you get the most bang for your buck in wine. We do this through blind tastings of wine from around the world and calculations of 
Wine Word of the Week: Aging
By Kori ~ February 12th, 2009.
This week’s Wine Word of the Week is aging.
Official definition from Jancis Robinson’s The Oxford Companion to Wine:
Aging of wine is an important aspect of wine connoisseurship, and one which distinguishes wine from almost every other drink. When a fine wine is allowed to age, spectacular changes can occur which increase both its complexity and monetary value. Aging is dependent on several factors: the wine must be intrinsically capable of it; it must be correctly stored (in a cool place and out of contact with air); and some form of capital investment is usually necessary.
Layman’s terms from Kori:
Aging of wine is an important aspect of winemaking and wine enjoyment. All wines are aged for a period of time (some longer than others) in barrels, tanks, or bottles, so that they can mature. In general, the aging process is more important for red wines than white wines. As red wines age, they tend to become less harsh, less tannic, and more complex. However, only a small number of wines truly benefit from extended bottle aging.
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