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.
If you are looking to sell a single bottle of a fine wine it may be difficult to do. That may be best accomplished by word-of-mouth communication. There are several ways, though, to sell large amounts of a personal inventory. The most often used ways are a person-to-person transaction through local or national advertising, using an auction house, or by contacting wine merchants who so this sort of thing as part of their core business.
Vintage that has not been stored in the correct conditions or whose provenance cannot be proven will be harder to sell. Provenance has to do with the chronology of ownership or proof that the vintage is a quality one. One way to check its quality is to refer to an online auction database.
One collector decided to sell about 9,000 bottles. That was 90 percent of what he owned. He used the services of a well-known New York auction house. Another connoisseur sold a very expensive collection by utilizing blogs and making personal contact with potential buyers. More often than not, however, most inventories for sale are not as large as these.
If you visit websites that provide pricing information you can quickly get some idea of what wine prices are. Once you've done that you will have a good start point from which to plan your next move. Most companies will want to see an inventory listing of what you have. Then they will be able to give you an appraisal of what it is worth on the open market. Some companies will buy your whole group outright and come to your home to pack it up and ship it to their warehouses.
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.
If you are looking to sell a single bottle of a fine wine it may be difficult to do. That may be best accomplished by word-of-mouth communication. There are several ways, though, to sell large amounts of a personal inventory. The most often used ways are a person-to-person transaction through local or national advertising, using an auction house, or by contacting wine merchants who so this sort of thing as part of their core business.
Vintage that has not been stored in the correct conditions or whose provenance cannot be proven will be harder to sell. Provenance has to do with the chronology of ownership or proof that the vintage is a quality one. One way to check its quality is to refer to an online auction database.
One collector decided to sell about 9,000 bottles. That was 90 percent of what he owned. He used the services of a well-known New York auction house. Another connoisseur sold a very expensive collection by utilizing blogs and making personal contact with potential buyers. More often than not, however, most inventories for sale are not as large as these.
If you visit websites that provide pricing information you can quickly get some idea of what wine prices are. Once you've done that you will have a good start point from which to plan your next move. Most companies will want to see an inventory listing of what you have. Then they will be able to give you an appraisal of what it is worth on the open market. Some companies will buy your whole group outright and come to your home to pack it up and ship it to their warehouses.
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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