You might not have given it a lot of thought, but wine auctions are now big business, both offline as you probably know but also online and they are becoming more and more popular; whether for private companies, getting rid of end of ranges, wine estates ends of production, charities and of course Joe public wanting a bargain!
Auctioneers have already forecasted that over the coming year, there will be a quiet, but steadily expanding market for wine auctions. Wine auctions and online wine sales have become the perfect method for people to purchase otherwise hard-to-find or impossible wine gems at a fraction of the cost they would normally pay.
Publicity abounds for the older, more expensive wines sold at auction, and as a result, most consumers tend to believe that these auctions are limited to experts, wine connoisseurs, and the very rich. This could not be farther from the truth. While the best-publicized wine auctions are either for charity or for the extremely wealthy, there is a plethora of auctions where the average consumer can make a killing, while making a donation to a charity. In return, they will take home a delectable bottle of wine.
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.
The excitement of a wine auction could affect impulse buying, and a punter paying a higher price than normal even. So research is key to getting a bargain, do not get carried away! Auctions also bring to the market fine old wines that might ordinarily go bad in a cellar, simply because there is no convenient way to dispose of them.
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!
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