Real Estate Innovation

Secrets to Successfully Playing the Wine Auction Game

Wine auctions are big business these days, and although you may not have given it much thought, there are becoming more and more popular both online and offline. Private companies are getting rid of their end of ranges, estates are liquidating production ends, and charities are using wine auctions as fundraisers.

In the end, Joe Public is the one who benefits. Wine auctions are forecasted as a low-key but continuing market this year. Most people consider them an excellent source of hard-to-find wine gems, and if you are an expert, you will be able to pick them up at bargain prices.

Because of the publicity given to the oldest and most expensive bottles of wine sold at auction, most consumers tend to think wine auctions are for the connoisseurs and the very rich, well let me tell you they are most definitely NOT! Some of the best-publicized wine auctions are for charity, where you can make a gift to the charity and receive a delectable bottle of wine in return.

Live wine auctions are exactly as you have seen them in the movies, great fun! Apart from the high profile sales Like that of Andrew Lloyd Webber’s spectacular sale, most wine auctions are a cozy affair; 70% of winning bids come from the trade, so there is 30% up for grabs at bargain prices for the likes of you and I.

Well-heeled benefactors are willing to bid in the thousands for a single, prized bottle of wine, but wine auctions are also an excellent source of local donations for various charities. When it comes to online wine auctions; there is the ability to “hammer” prices after the conclusion of auctions and anyone is allowed to browse the databases looking for selling prices of the wines sold. This gives you great background information for when you attend a live wine auction whether it is online or offline.

Wine auctions are not only fun, but also they are exciting as well. At times, this can lead to impulse buying with a punter paying a higher price than they normally would. Research is the key to staying in the bargain range and out of the fleeced range. Avoid getting carried away. Auctions bring fine, old wines to market that ordinarily stay in wine cellars until they go bad.

Wine auctions have become the preferred place to sell these wines, when you can often get a bargain. Auctions are typically set up around lunches for obvious reasons and most of the heavy bidding occurs during the middle of the day. What a way to enjoy your purchase!