When you buy wine at an auction, you can get a great bargain. You can buy recently released wines, as well as older vintages, and they are usually much cheaper than retail. Some of these wines can be higher quality than their younger counterparts, but it all depends on what you’re looking for. A professional auction house will make sure to inspect the wines and catalog them properly. If you’re not sure how to go about buying wine at an auction, here are some tips to help you make a good purchase:
First, decide how much you’re willing to spend. Most wines sold at a wine auction come from private collections. The sellers of these wines are known as consignors. In most cases, there will be only one consignor per lot. However, if the wine collection is particularly notable, you may learn more about its consignor.
A lot can contain a single bottle, several bottles, or a full case. Most lots are made up of similar wines from the same producer and vintage. However, you can also find mixed lots containing different producers, vintages, vineyards, and sizes. In these cases, you can expect a lower price than the value of each individual lot.
Buying wine at auction can be a great way to collect a variety of wines. A recent Sotheby’s auction in Hong Kong brought in $14.5 million, far surpassing its high estimate of $13 million. A twelve-bottle case of Chateau Le Pin from 1982, for example, sold for $206,000, or $17,000 per bottle. Moreover, a case of Chateau Cheval Blanc from 2010 went for a whopping $166,000. Most high-end wine sales are made up of French and Italian wines.
You can attend wine auctions in person, online, or over the phone. Just make sure you don’t wear too much perfume or other scented products, which will affect the smell of the wine. A well-organized wine auction should have a good promotion plan. A great promotion plan will increase ticket sales by increasing ticket sales.
A great way to buy wine at an auction is to search for an auction house specializing in wine. The most popular locations for wine auctions are New York City and Hong Kong. The latter is the leading auction location for fine wines, but many collectors have already filled their wish lists. The decline in consumption in China will decrease the number of people buying wine at auctions.
Before attending a wine auction, familiarize yourself with the auction catalog. This will enable you to better understand the characteristics of the wine. Learn about the wine’s provenance and how it was stored. The auction catalog will also help you learn about the different terms used in wine auctions. It will also help you decide on your investment goal.
The process of buying wine at an auction is exciting, convenient, and profitable. A wine auction is an excellent way to buy rare and aged bottles of wine. However, wine auctions are not the best investment for everyone. If you’re serious about wine, you should research the auction market and vintage performance trends to find a great wine at an affordable price.