Secrets to Successfully Playing the Wine Auction Game

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Secrets to Successfully Playing the Wine Auction Game

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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.

Auctioneers forecast a continued but subdued market for wine auctions this year. Wine auctions are the perfect way to find those hard-to-find wine gems, if you know what you are looking for or just to pick up a bargain.

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.

Wine auctions are live just like you have seen in the movies, and they are great fun to attend. With the exception of some high-profile sales like the Andrew Lloyd Webber sales, most wine auctions are actually quite a quaint and cozy affair with 70% of the winning bids coming from the trade and the other 30% up for grabs at very reasonable prices that anyone can afford.

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.

Auctions provide a convenient way to dispose of them so that they do not just go bad. The well-informed buyer will get a deal. Many auctions are set up around lunches, which make sense because most of the heavy bidding goes on in the middle of the day. What a way to enjoy your purchase than over lunch.
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