Buying Wine at an Online Wine Auction
Wine auctions get a bad rap for being uptight, snooty affairs that aren’t comfortable places for the average wine enthusiast. But, in reality, they’re a lot of fun and can be a great way to get a bargain on fine wine.
It’s always a good idea to settle up promptly. This is a courtesy to the seller and will help you avoid any fees.
It’s a great way to sell wine
Buying wine at auction can be a great way to save money, especially for those who want to buy vintages from the top producers. However, it is important to know what you are looking for before you start bidding. Some of the key things to keep in mind include the bottle’s condition, the provenance, and whether it has been stored properly.
Wine auctions are great places to find wines that aren’t readily available in retail or restaurants, including back-vintage riesling from Germany and Austria, Loire wines, and old California cabernet sauvignon. These wines can change dramatically with age, as tannins soften and oak folds in, and new flavors emerge.
It is also important to compare prices and terms offered by different auction houses. Many have minimums based on the size and value of a lot, while others charge varying amounts of sellers’ and buyer’s premium. Some also have a minimum reserve price, which is the lowest bid that a seller will accept.
It’s a great way to buy wine
If you’re a wine lover, auctions can be a great way to find rare wines at bargain prices. However, it’s important to understand the nuances of the auction process. For instance, the atomic unit of an auction is a “lot,” which is a group of wine bottles that are sold as a single set. Many companies like Christie’s and Sotheby’s host live wine auctions, while others, such as WineBid and Spectrum Wine Auctions, offer weekly online auctions.
It’s a great way to save money
A good way to save money at wine auctions is to buy a lot of inexpensive wines. This is especially true if you’re looking for a wine that doesn’t require a lot of cellar time to reach its peak. Just be sure to look at the bottles carefully before buying. If a bottle has gaps in the cork or a label that’s stained with wine, it might be too old to drink.
Auctioneers at live auctions often offer a variety of discounts for buyers who attend in person. These are usually available for the first few lots in a given session, or for a specific category of wine, such as Bordeaux.
When you’re ready to place a bid, use the Spectrum Wine Auctions app for iPad or iPhone to register and place your bids in real time. The app is free and offers advanced bidding technology and streaming video of live auctions. It also allows you to add retail wines to your auction winnings with no additional shipping charges.
It’s a great way to meet people
When most people think of wine auctions, they imagine a room full of wine-lovers, an auctioneer in a suit, and a well-dressed staff attending breathlessly to the needs of bidders, who signal their interest by raising paddles with numbers on them. But while a live auction offers the same exhilarating experience as one in a physical location, online bidding is a new way to meet wine lovers and find rare bottles at a great price.
Spectrum Wine Auctions is committed to offering buyers and sellers alike the most accessible and expansive auction opportunities for what is simply the world’s greatest consumable and collectible product – wine. This application makes it easier than ever to access these unique buying and selling opportunities by allowing you to filter searches by bottle size, type, vintage, and more, as well as track lots that you have bid on, are consigned, or are watching. You can also save bids to place later.