Online wine auction services have been around for several years now and some people may wonder what the best way is to use them. Online wine auctions offer a positive experience for both the buyer and seller, with most online wine auction houses offering a 10-20% commission structure to sellers. In other words, if the wine item sold for $100, the auction house would take between $10-$20 from the sale. In a physical auction setting, this percentage can vary significantly with prices as high as 20-30%, in turn leaving less for the seller. Online wine auctions are a relatively new and exciting way to bid on and buy wines without leaving home. The main online auction house is Winebid.com.
Online wine auctions are online auctions where wines are sold to the highest bidder (in some form of open bidding in the manner of a traditional auction, or through fixed price where bids and sales take place at the same time). Online wine auctions allow for convenience, not only for you to participate and bid in the auction, but it also allows you to order wines from across the globe from different types of wine producers or even individuals, as well. You can participate in the auctions from anywhere in the world (as long as you are of legal age). In general, wines at an auction are sold for far less than at stores or restaurants. Auctions offer great bargains on expensive wines. It’s not difficult to find great deals or even a rare gem at a wine auction.
Auctions are a great place to start when collecting wines as they offer a chance to sample different kinds of wines without having to buy them at retail prices. If you’re just starting and want to build your collection then purchasing unique bottles at an auction can be a great option. It’s best however to purchase only those wines that you know and like rather than trying new ones. An online wine auction is an auction that is held entirely over the Internet. Wine auctions can be used to sell wine collections, private collections, or surplus stock. Due to fluctuations in value between vintages, past and present, wine is a perfect product for sale via auction. Wine may be sold under specified conditions at auction house premises, or buyers may make bids via the Internet or by phone.
Online wine auctions are a great way to buy wine that is hard to find. They were founded in the USA and their main offices are in New York, Austin, and Seattle. Each city has a different head office with different specialities. In New York, they sell the rarest wines and in Seattle, they have wines of all varieties. Nowadays you can also find them online. Wine enthusiasts are well aware that every March and April wine auctions are held in Hong Kong and London. But what about all the year-round online wine auctions? Many new auction houses allow you to bid on wines 24/7. We have just started Loyau Wine Auctions, an online international auction house with the main office in Bordeaux and a branch in London.
Our focus is helping wineries to sell their wines through auction, targeting professionals in the business as well as wine lovers. Many good prices can be achieved – they depend on quality, brand, year, and bottles remaining in stock. The majority of wines in auctions come from private sellers. Price estimates provided by the auction houses, who have access to price records and expert wine specialists, only represent a general estimation of the sale price. In high-end auctions, a significant proportion of wine lots are purchased before sale through private negotiation. This can bring incredible results for both buyer and seller.
Networking with others who love wine is another great way to find a new favourite wine. The three largest auction houses for wine, London’s Christie’s, New York’s Sotheby’s, and Chicago’s Hart Davis Hart, sell over $300 million worth of wines each year, but there are more than a dozen other auction sites that sell wine regularly. A wine that is sold at auction typically passes through one of two channels: first, a wine that originates with a merchant, of which there are generally considered to be three “tiers” of increasing quality and price; second, wine from a producer (or their agent) who sells “negotiate-direct” to the auction house.
