Wine and whisky auctions
There are a number of (online) auction houses operating in Europe that specialise in wines and whiskies. This number is increasing over the years. For sellers and buyers the quality of services delivered will become more important.
Buying bottles through auctions
Buying at auction houses is getting more popular. The reason is twofold: the number of active internet auction houses increases and buying online has become more common. But even more important is the fact that buying at an auction has the psychological effect that people tend to think that they buy at very competitive prices.
When you compare auction results and add up the commission and handling costs and transport costs, many buyers come to the conclusion that the final price isn't that competitive anymore. And then the question arises: was it worth the risk of buying from an known source?
Buying bottles from auction houses may involve a risk. The seller is only known to the auction house itself. The background of the wine or whisky and the way the bottle was stored since it was bottled play a key role: is the wine still drinkable and didn't it age too rapidly. The number of disappointments when buying from auctions are numerous.
Best of Wines is not an auction house. We buy directly from the domaines themselves or from trusted private sellers. As our prices are very competitive and we check the background of each bottle, we are very competitive for every auction: and the buyer is sure he buys a well stored and trusted bottle.
Selling bottles through auctions
You can also sell wine via auction. Auction houses usually offer a taxation with a minimum price and generally an overestimated maximum price. Auction houses tend to be very optimistic about the expected profit. These overly high estimates are rarely achieved, with outliers even more so. To the contrary, most auctioned lots are sold at the low end of the spectrum. Add to this the commissions payable to the auction house or intermediary. It often happens that buyers also need to pay a commission, which results in a bottle price even lower than regular prices.
Therefore, if you offer wines or whiskies for sale at auctions, there can be no guaranteed result. Furthermore, not all bottles offered may even be sold. Less popular bottles may end up staying behind in your cellar, uncertain if they will be sold at all. To sum up, selling bottles at auctions can end in great deception.
Best of Wines is not an auction house but buys wine or whisky directly. We can take over your complete cellar or collection if needed. This means you do not end up with any ‘remainder’ in your storage. Payment guaranteed, so to speak.
Auctions depend on spur of the moment decisions, need to reach the right clients, and these clients have to be present and available (either online or in person) at the right time. Many potential buyers are therefore missed. This of course has negative impact on the final bid. Our sales platform however has a steady day-to-day reach in a worldwide network of hotels, restaurants, and wine lovers, greatly increasing the chance of finding the right buyer and the right price.
Apart from not being sure how much profit the auction will generate, there can often be months between delivering your wines, the auction itself, and receiving the final payment. We, however, guarantee an immediate pay-out.
Best of Wines positions itself as a perfect alternative to the many wine auctions.