What is a wine Auction?
A wine auction is a specialized event or platform where wines are sold to the highest bidder. These auctions can be held in physical locations, such as hotels or auction houses, or they can be conducted online on dedicated wine auction websites. Wine auctions often feature rare and collectible wines that aren't easily available in the regular market. Here's a breakdown of the concept:
- Cataloging: Prior to the auction, a catalog (or listing for online auctions) is typically created, detailing the wines on offer. This includes information about the wine's producer, vintage, region, bottle size, and often tasting notes or ratings from wine critics.
- Bidding: Potential buyers place bids on the wines they're interested in. In a live auction, an auctioneer leads the event, calling out the current bid amounts and seeking higher offers. In online auctions, participants place their bids over a set period, with the highest bid at the close of the auction winning the item.
- Provenance: The history and storage conditions of the wine (its provenance) can greatly affect its value. Wines that have been stored in optimal conditions, with a clear ownership history, often fetch higher prices.
- Payment: Once a wine lot is won, the winning bidder is required to pay for it, often adding a buyer's premium (a percentage of the final bid amount) to the auction house.
- Delivery: After payment, the auction house or platform arranges for the delivery of the wine to the buyer. Some auctions might also offer storage solutions.
- Seller's Commission: Individuals or entities that consign their wines for sale at the auction typically pay a commission to the auction house based on the sale price of the wine.
Wine auctions are popular among collectors, investors, and enthusiasts looking for rare bottles, older vintages, or unique finds that might not be available in the traditional retail setting. They also offer wine collectors a platform to sell bottles they might want to divest from their cellars.
If you are interested in divesting please contact us for a Valuation & Cellar assessment today.
What do you need from me to get started?
We will need you to confirm that you are over 18 (for obvious reasons!) and to open an account by registering on the site. This will include provision of credit card details for any eventual purchases. You will also need to sign that you have read the terms and conditions.
How many wines are in each Lot?
You will see the quantity (number of bottles) stated above the price. Please note that the bid-price is per bottle so you will need to multiply the price by the number of bottles in the lot to calculate the total price of the lot.
Can I cancel my bid if I change my mind?
All bids are final - please think before you confirm your bid.
Is there a Guarantee on my wine?
Under Australian law, consumer guarantees do not apply to goods purchased at auction - all such purchases are at the risk of the Buyer. We will always provide as much detail as we can as to the visual condition and provenance of each Lot, however this is done so as a guide rather than as a guarantee.
How do I know if I have won an auction?
We will contact you by email to let you know if you have won an auction. Please make sure the email address on your account is up to date.
How long do I have to pay for an auction I won?
You will have three business days to pay for an auction you won. If payment is not received within this timeframe, we reserve the right to cancel the sale and offer the wine to the next highest bidder.
What is the cost of shipping?
Shipping costs vary depending on the location of the delivery address and the weight of the package. Please refer to our Delivery Policy for more information about shipping rates.
Can I have my wine shipped internationally?
We currently only offer shipping within Australia. If you would like to arrange your own international shipping, please contact us to discuss further.
How long does shipping take?
We aim to deliver your wine within 2-7 business days depending on your location within Australia. Please refer to our Delivery Policy for more information about estimated delivery times.