How to sell your wines at auction

If you are considering selling the jewelry in your cellar, the best thing you can do is to keep in mind that a thing is worth only what someone else would pay for it and whether it is a few bottles or an entire collection, the trick is to find to that person.

The secondary market for the sale of wine is large and decentralized. Regulations for the sale of alcohol vary from country to country, adding further complexity.

The most suitable place for the sale of wine for you will depend on the number and quality of the bottles that you are going to sell. Keep in mind that if you are going to do an auction round, the final price you will receive will be lowered a few euros from the final award price, after the commissions to the auction house, insurance, transport and taxes have been paid. . Consider this before starting this type of business, as it will save time and money.

Whether you are an individual with a large collection of wines, or a wine company, here are some of the keys to improving the options for selling your wines at auction:

Has a similar wine been sold at auction recently?

Check the price databases of the auction houses and if you see your wines appear in the history, there is a good chance that reputable auction houses will be interested in them. If you think you have an exceptional bottle but it does not appear in the history, it may be more unlikely to put it up for auction but not impossible, depending mainly on the wine. The circle of accepted wines is wider but still somewhat limited. Research current inventory for upcoming sales to see if they carry similar wines. If your bottles do not appear in your search, it does not mean that they will not be accepted, but it will increase the possibilities.

How much wine do you want to sell?

Most auction houses are only interested in large shipments, more profitable, and that amortize the time invested. In addition, they also take into account the composition of the collection, which is usually structured in batches; since placing many bottles of the same wine is done more easily than with individual bottles of different wines. Having multiple bottles will also allow auction directors to offer samples of your wine, giving you an idea of ​​authenticity and how well the wine has been stored.

For the less "auctionable" (or near-auctionable) wines, some houses organize a type of event, a mix of retail and auction, to handle a wider variety of wines and obtain higher returns. Online auction sites vary in their minimum remittances and wine acceptance.

How was the wine stored?

Auction houses are generally only interested in bottles that have been stored in professional quality storage with regulated temperature and humidity. Collections stored in passive cellars with ideal conditions may be accepted but most auction managers see this as exceptional.

There are less strict auction houses on this point, but others will take good note of how the wine has been stored and it will be included in the description of the sale. If you can prove that you have purchased your wines from a reputable source, you will have a better chance of having your bottles accepted.

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Is it an auctionable wine?

Falling in love with the product is one of the most common mistakes made by those who undertake this type of business, considering that they have wines suitable for auction when in fact this is not the case. Keep in mind that only 1% of the wines on the market are suitable for auction. Even so, it is a very lucrative business for those who start in this company.

The prestige of the wine, the years of the bottle, the owner or owners to whom the bottle belonged, the history of the bottle or the underlying history of it, are some of the determining factors when a wine is auctioned. You can get more information to find out if a wine is auctionable in this article.

Will it be worth it?

Many auction houses offer a free appraisal or appraisal of the bottles you want to sell. Make a list of your wines, where you bought them and how they have been stored and send it. In the meantime, consider the date you'd like to sell the wines (transportation of wines is more expensive in the summer as temperatures dictate overnight shipping) and investigate other costs that may be charged to you.

Variable fee rates can be up to 18 percent of the final bid. Some auction companies vary this scale based on the rarity, quantity, quality, and condition of the consignment. Since the final commission is negotiable, it is worth comparing prices to negotiate the best price.

Some houses also apply an insurance charge that is about 1 percent of the estimate and ensures that your wine is stored in optimal conditions before sale.

Finally, most auction houses will pay within 35 days of the sale and as long as the buyer has paid. In terms of taxes, you will be the one to decide how to deal with the issue, since the houses do not issue any document.

Become an investor?

If you do not have wines but you are interested in being in this business, there is the option of becoming a wine investor. To do this, you must know the auction market very well, be up to date with the latest currents, attend auctions and, finally, buy wines at auctions, store them in a specialized maintenance company to later sell them again following market trends to obtain capital gains. . The operation is similar to the speculation that is carried out in any other market of movable or real estate.

Finally, if comfort is your thing, consider participating in a financial investment fund that invests for you in this type of asset. Always check beforehand that behind the fund there is a company with the maximum guarantees, such as a bank or a high-level investment company.

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