Does The Selling Market Matter
Overall, the market is global with consistent pricing, aside from a few anomalies in each, says Ritchie. Depending on the wines age and producer, we will recommend certain markets. High-value wines, certain producers, vintages and collections of specific wines may be better in Asia than Europe or New York. However, the growth of online auctions is making it easier to sell fine wine to buyers around the world. Its become the most efficient way to present information that anyone can access at any time versus a print catalog.
What Should Buyers Consider
Join auction house mailing lists, and review past online sales and recent catalogs to compare whats selling.
Buyers should study the gaps in their cellar to decide what to purchase, says Michael Davis, vice chairman at Hart Davis Hart , a Chicago-based global wine auction house and online retailer. Also, review the profiles of the wines being offered and consider what is their drinking window, taste profile and how the wines fill their needs.
HDH holds seven auctions annually. Its April auction is dedicated to the wines of Burgundy, while November is reserved for Bordeaux.
Early bidding can be beneficial. At HDH, our auctions open for absentee bidding approximately three weeks before the sale, says Davis. Bidders should take advantage of that by reviewing the lots and placing early bids. If there is a tied absentee bid when a lot is offered live, the earliest bid wins the lot.
Another consideration is the buyers premium to the auction house, which can range from 19.524%.
Finally, buyers should have perseverance. Sometimes it takes patience to win the wine youre looking for, but its always worth it in the end, says Davis.
Whether buying or selling, when the auction gavel goes down, someone will raise a glass in celebration.
Wine Forums Sell Locally
Are you connected with other wine aficionados via forums or a club? If you are, this is another viable avenue to sell your wine. With websites like wineberserkers.com, you can ask if anyones interested in the wines in your collection, keeping your sale private.
But remember that shipping is still illegal without the proper licenses and permits. So you need to make sure your transactions are local and the buyers can pick up the wine. The problem with this option is that you may have to deal with people who want to haggle or who refuse to pay.
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What Wines To Collect
Your wine collection is a reflection of you. Regardless of whats en vogue right now, a great collection stays true to the tastes of the collector. The process you go through to identify your core preferences should eventually lead you to creating a vision statement that defines your collection. This vision statement becomes a rule-system for vetting wines youd like to buy.
Research and Reconnaissance
Be prepared to get down and dirty with researching the people and places from where your wine is produced. The more certain you are of each choice, the better your collection will be. Sample single bottles before purchasing a case. A large investment in good research is more useful than a large pocketbook its the best way to ensure your collection becomes more valuable. Here are some things to research when looking into different wines:
Basic Research:critic ratings, point scores, vintage reports, vineyard location, tech sheets, tasting notes, and retail price
Intermediate Research:the winemakers profile, the winerys history, the wine regions history, who imports the wine, how long the wines are anticipated to age, other wines the producer makes, when the vines were planted
If youre interested in seeing what other serious collectors have to say, there is a treasure trove of hardcore collectors on wineberserkers.com
Provenance and Pedigree
How To Start A Wine Collection Worth Cellaring
Theres nothing quite like opening a bottle thats been cellared for many years. Not only do wines evolve as they age, but they also serve as a time capsule into the past.
Your future you will thank you for starting a wine collection.
There is a big difference between buying wine and collecting wine. Buying wine is a somewhat random effort based on likes and preferences in the moment. Collecting wine, on the other hand, is a long-term commitment that requires vision and direction. With a collection, you still get to buy what you like, but it will be supported by your own rigorous research and choices.
Great collectors demonstrate talent in choosing great wines: creating a collection that is greater than the sum of its parts.
Avoid other peoples mistakes. If you want to build a wine cellar in your basement, you need this book.
Get the Wine 101 or Wine Styles Tasting Course FREE with the purchase of Wine Folly: Magnum Edition.
Prerequisite You dont need to have a ton of money to start a wine collection, but you do need good storage. If you store wine in poor conditions it will degrade quickly and not be applicable for resale. For these reasons, youll need a location that maintains a consistent cold, damp, environment all year-round .
- A cellar
- A compressor-based wine fridge
- Professional storage
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How Was The Wine Stored
Auction houses are generally interested only in bottles that have been stored in professional-grade storage with regulated temperature and humidity. Collections stored in passive cellars with ideal conditions are considered, but most auction directors say those are rare. Other outlets are less strict, but some sites, such as Winebid.com, will note how the wine was stored in the sale description. If you can prove that you acquired the wines from a reputable source, you have a better chance of getting the bottles accepted.
How Much Can I Sell My Wine For
When consigning and selling your wine collection with IronGate.Wine, we set the pricing based on comparable, competitive retailers in the United States including Benchmark, K& L, etc. Where no retail comparisons exist we look to worldwide auction houses and add the buyer premium which, in most cases, is where retail prices tend to fall.
If selling your wine collection privately, you will receive approximately the average hammer price minus 5-10% cost of sale, depending on the collection. The benefit being a fixed sale price, contractually agreed in advance. All funds are held in escrow until the transaction closes in a foreign country.
If consigning your wine collection to Iron Gate Auctions, the market determines the price and it is our job to ensure your wine is properly showcased and were communicating to the maximum amount of potential buyers through our marketing efforts.
Certain wines sell better at auction, some better in retail in the US, some better in Hong Kong. As the ONLY Canadian company to offer all these options we can analyze your collection and match the possibilities with your specific goals and desired risk levels.
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Burgundy Grand And 1er Cru
Burgundy presents a far more bespoke approach when it comes to selling prices. Due to the small volumes produced, the market for collectors and buyers is much more niche and far smaller. As such we cannot provide a systematic approach to pricing as we do with Bordeaux. However, we are very keen Burgundy buyers and, to name a few, we continually search for growers such as Sylvain Cathiard, Coche-Dury, Arnaud Ente, Comte Georges De Vogue, Domaine de la Romanee-Conti, Dujac, Fourrier, Henri Jayer, Domaine Leflaive, Meo-Camuzet, J-F Mugnier, Domaine Ponsot, Prieure-Roch, Emmanuel Rouget, Guy Roulot, Georges Roumier and Armand Rousseau. Please do send through details of any stock in original cases you are looking to sell and we would be delighted to discuss a price on behalf of our buyers.
What Happens After Your Buyer Bids
If you sell your wine via auction house or online marketplace, shipping is usually already included. The professional sellers already have contracts with shipping companiesyou simply supply the wine. However, if you decide to sell the wine on your own, youll need to consider a complex set of legal steps before your buyer can buy it. You must:
- Get a wine-selling license through your state
- Get approval from your state to ship wine to your buyers location
- Check that your buyers state allows wine shipments
- Contact a trustworthy shipping company
- Pack the wine according to the companys standards
- Send the wine to your buyer
In some cases, you might be denied a shipping license, which means you cant sell your wine at all. This is why the sales fees for auction houses or online marketplaces are often worth the extra cost. Heres what happens when you ship via an online marketplace:
The last step is the most important one for your buyers. A collector who spends thousands of dollars on a top-tier bottle of DRC wants to ensure that the bottle they are buying is authentic and reaches them safely. Selling your wine through other websites like eBay doesnt necessarily guarantee authenticity or a refund for heat damage. Experienced collectors prefer to shop with retailers who offer them shipping thats specifically designed with wine in mind.
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How To Sell Your Wine At Auction
You have a stack of wine and youre wondering, should I sell some? Are my wines worth anything? How should I go about it? Never fear, because we have the answers here.
We think wine is a great investment , but there are a couple of factors to consider. If you want to buy wine specifically to turn a profit, the bad news is youre going to have to wait. Five years is a long time to be patient, especially when its so tempting to just drink it. There is a vibrant secondary market for aged wine, and if you have bought the right wine at the right price, you can do well financially. If you dont end up selling it, well, you can always drink it.
Have a cellar thats already overflowing with wines that youre not possibly going to get through in this lifetime? It might be time to liquidate those liquid reserves. Nick Stamford, Managing Director of MW Wines, Australias largest independent wine auction house, gives us the lowdown on how to get started and what to expect.
Who can sell my wine?
Online auctions provide one of the best ways to find a buyer in Australia. There are thousands of people active in our wine auctions and access to that audience will give you a leg up. As well as that, expert insights from auctioneers will ensure you secure the best price possible.
What is my wine worth?
How many wines do I need to start selling?
What will influence the price received for my wine?
When should I sell my wine?
How quickly will I see the results of my wine investment?
Faster To Marketfaster To Pay
A Benchmark Cellar Team can be on your doorstep within 24 hours of contract completion, ready to catalog and pack your collection. We can take your cellar to market in just days no waiting for weeks or months until the next auction while you watch the wine market change on a daily basis. Savvy consignors can take advantage of fleeting market conditions and have a check in hand before the next available auction.
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Sell Your Wine & Spirits
We are not an auction house we are specialists at buying wine, brandy, champagne and spirits outright from individual clients. We have worked hard to become a respected name in wine sales and earn the trust of everyone we have worked with. We have created the simplest process for you to sell your wine collection and we work hard to earn your trust through free appraisals, competitive pricing and a hassle-free easy process from the appraisal through payment.
We can buy your wine wherever you are in the United States. Whether you choose to ship your wine, bring your wine to us or let us come to you, we will provide you with the easiest, most convenient wine selling process possible. Some of the most common questions we hear are: How can I sell my wine and ensure Im getting the best price?, How do I know which wine merchant to sell to?. These are valid questions and TK Wine has proven to thousands of clients that we are the right choice company to whom you should sell your wine.
Here at TK Wine we emphasize the following when you sell wine and spirits to us:
- Immediate Payment, Maximum Price
- Upfront, same-day payment option available! We buy your wine speedily and at the best possible price.
- No Fees
- Multiple Selling Methods
Our buying process is designed to be as stress-free and convenient as possible.We guarantee that selling wine has never been easier. Contact TK Wine today!
How To Sell My Wine Online
Receive Live Market Prices and a Full Online Quotation for your Fine Wine Collection in just a few minutes.
- Receive an Online Wine Valuation & Quotation In 3 Simple Steps
- A FREE Service with NO Obligation to Sell Your Wine
- Quotations Display the Final Amount You Will Receive
- Low Commissions, No Hidden Fees & All Costs Covered by JF Tobias
- 5-Star Rating on Trustpilot for our Processes and Services
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Write A Business Plan
A business plan is a comprehensive document that details and guides all of your core business activities. It prepares you for the multitude of business decisions youâll need to make and uncovers any weak spots that need to be addressed.
An eCommerce business plan is even more important to an online venture than an offline one. Youâll need to establish a clear and compelling roadmap for all of your business activities.
Your business plan should include the following:
- Business purpose and mission statement
- Products and/or services offered
- Sales plan and projected quarterly revenue
Sell Vintage Wine Online
Vintage wine is a popular niche of the already booming wine industry. The definition of vintage wine is any wine of which grapes were grown, harvested, and fermented in a single year. Some vintage wines have grapes from different harvests, but most are from a single harvest.
Vintage wine generates hundreds of millions of dollars annually in the US with strong growth predicted. Because wine is generally considered better the older it is, this keeps the vintage wine market strong at all times.
Here are our recommended strategies for selling vintage wine online:
- Get active on collectorsâ forums. Wine is a bit of a collectorâs sport for many adults. Some enjoy buying vintage wine to eventually consume it others buy it to build their wine portfolio. There are many people who will consider your wine if they know youâre selling it.
- Look for organizations willing to buy it. Some companies purchase vintage wine to sell it at a profit later on. Conduct your own research to ensure that youâre getting maximum value for your wine.
- Stay persistent. Thereâs a buyer for just about everything in todayâs world if you know where to look. Marketplaces like eBay and Craigslist still offer the sale of wine. These sites are visited by millions of collectors and enthusiasts looking for their next amazing purchase.
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Sell It Yourself Via Your Own Retail Website
Last but not least, you can sell your wine online yourself. If you are willing to get all the necessary permits and licensing, this is a viable option for you. We recommend it to people who plan on selling wine on an on-going basis. This option is not optimal for getting rid of a collection, but if you plan on going into business selling wine, this is the option that makes sense.
Selecting An Auction House
Like any major transaction, its wise to comparison shop. The reputation and success rate of an auction house is paramount, along with the size and reach of its customer base.
Many houses have minimums based on the value of the wine lot, which can be one item or an entire collection. Also, the lots size and value can affect the sellers fee, which ranges from zero to 18%.
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How the lot will be marketed is also important.
Ask if the auction house has a strong international market, and if your wine collection will be seen by buyers from other collecting categories and not just wine buyers, says Christopher Munro, head of wines and spirits for Christies. The auction house holds two live wine sales at its New York City location and four online wine sales per year.
Its the auction houses responsibility to appraise the wine and set a price. Munro stresses that sellers should submit important documentation well in advance, especially those with large collections.
We need to carry out full appraisals and will often visit to inspect the collection, and maybe taste samples, if appropriate, he says. We would often plan an event with the client, and the longer the time we have to properly market the collection, the better.
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S To Take To Sell Your Wine Collection: