Are you a budding wine collector hoping to improve their collection? If so, using a wine auction to complement your collection may be the next step. Auctions are fun, educational, and a great place to meet like-minded individuals. At a good event, you’ll receive all kinds of samples.
WHY A WINE AUCTION IS THE PLACE TO FIND TOP-NOTCH WINES
When it comes to expanding your collection, a wine auction can’t be beaten. A live wine auction will have wines from all over the world with a wide array of histories. You can find rare bottles that are finally being sold after someone held onto them for years. The same can be said for online auctions but they don’t provide the same experience!
ENTER THE WINE AUCTION WITH A SENSE OF WHAT YOU WANT
If you plan to be active during the bidding process, it’s good to go in with a plan. Beforehand, have an idea of which bottles you are interested in or certain styles you are interested in. Take some time to refresh yourself on what is available and do due diligence on marquee bottles. This research will be help determine your budget on a bottle, case, or collection. Consider the condition of the bottle as well. Expectedly, many of these bottles have been held onto for years before being sold. Some of them might have certain defects (cork damage, label damage, seepage, low fill levels) but these are not always dealbreakers. It’s best if you can find a bottle with provenance showing it’s been in a wine storage facility. However, with uncertainty comes risk. Some auction houses will not sell bottles unless they meet a certain level of condition.
DON’T BE AFRAID TO ASK QUESTIONS
If you’re new to auctions don’t be afraid to ask around among the staff or others who have been there before. A lot of folks will be attending for the first time and the fine wine community is typically very friendly. Almost everyone in my experience is more than eager to talk, share, and discuss frankly anything relating to wine.
KNOW THAT ALL WINE AUCTIONS ARE DIFFERENT
Know the auction you are going to and what that auction typically provides. Accordingly, some auction houses focus on rare individual bottles and others on whole collections. Keep in mind your budget and desires when selecting an auction to make sure it’s a good fit. If you go in with a solid strategy, you’ll come out with some great additions to your collection.