Sell wine collection for a profit. That is what you want to do. Whether collectors want to sell an entire inventory, part of it, a couple of bottles, or just one bottle there are ways to do it. Connoisseurs as well as novices have avenues to go through and resources to use to do this. Sometimes families pass down to others a collection but do not want to keep it. Selling it may happen only once in a long while or only once in their lives. It is understandable that this process is not well known.
The chances of finding someone to buy one bottle of a quality wine is small. However, there are many techniques to sell a collection. The most popular ways are to contact an auction house, engage in a person-to-person transaction, or by contacting wine merchants that make a business of selling collections.
If you cannot prove the provenance of your vintage or if it has not been stored in ideal conditions it will be more difficult to sell it. Provenance is the documented proof of a vintage and ownership of something. An example of a resource to check the quality of your inventory is Wine Spectator's Auction Price Database's auction database.
This is an example of a true situation in which a man wanted to part with his inventory. He had 9,000 bottles to sell. That composed 90 percent of what he possessed. He sold it to a large New York auction house. Chances are that most inventories would not be as spectacular or large as these, however.
There are websites that one can use to find out what wines are selling for today. That is a good way to begin your information collecting. You'll have a reference point to start with when speaking to wine merchants or auction houses. Most companies will want an inventory list of what you propose to sell. Then they can give you an appraisal of what it is probably worth. Some will buy your whole group in a single transaction. They can come to your home to pack and ship your inventory to a storage warehouse they use.
For a quicker but perhaps less accurate idea of what your inventory is worth you can research all of the prices yourself. Add them up and half that total. If your group has been in less than ideal storage conditions, part with it for less than half of that total. Advertising on Craigslist is a good alternative also.
There are auction houses who specialize in selling collections. Of course, they will want proof that the wine has been stored in the correct way to be able to maximize their profit. Most likely, they will want to work with large inventories versus smaller ones. They may not take on your inventory if they conclude the wine has been stored in a less than ideal environment.
Auction houses will want to make a profit on the transaction. Take into account their commission structure, lotting fees, and insurance fees. These fees can amount to a substantial amount and will decrease your profit. However, some of them will not charge a commission or other fees if you accept their equivalent of a store credit when you sell wine collection.
The chances of finding someone to buy one bottle of a quality wine is small. However, there are many techniques to sell a collection. The most popular ways are to contact an auction house, engage in a person-to-person transaction, or by contacting wine merchants that make a business of selling collections.
If you cannot prove the provenance of your vintage or if it has not been stored in ideal conditions it will be more difficult to sell it. Provenance is the documented proof of a vintage and ownership of something. An example of a resource to check the quality of your inventory is Wine Spectator's Auction Price Database's auction database.
This is an example of a true situation in which a man wanted to part with his inventory. He had 9,000 bottles to sell. That composed 90 percent of what he possessed. He sold it to a large New York auction house. Chances are that most inventories would not be as spectacular or large as these, however.
There are websites that one can use to find out what wines are selling for today. That is a good way to begin your information collecting. You'll have a reference point to start with when speaking to wine merchants or auction houses. Most companies will want an inventory list of what you propose to sell. Then they can give you an appraisal of what it is probably worth. Some will buy your whole group in a single transaction. They can come to your home to pack and ship your inventory to a storage warehouse they use.
For a quicker but perhaps less accurate idea of what your inventory is worth you can research all of the prices yourself. Add them up and half that total. If your group has been in less than ideal storage conditions, part with it for less than half of that total. Advertising on Craigslist is a good alternative also.
There are auction houses who specialize in selling collections. Of course, they will want proof that the wine has been stored in the correct way to be able to maximize their profit. Most likely, they will want to work with large inventories versus smaller ones. They may not take on your inventory if they conclude the wine has been stored in a less than ideal environment.
Auction houses will want to make a profit on the transaction. Take into account their commission structure, lotting fees, and insurance fees. These fees can amount to a substantial amount and will decrease your profit. However, some of them will not charge a commission or other fees if you accept their equivalent of a store credit when you sell wine collection.
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