In these uncertain economic times, many wine collectors return to their collections to see which wines are available for sale. Once you have built a solid wine collection, it may be time to eliminate those who have reached their ideal maturity. Otherwise, you will benefit financially in the future if you understand how the wine is stored to maximize its future value and the sales process.
The process of selling wine
When you are ready to sell fine wine, there are a number of options available to you, including selling directly to other investors, selling at beer auction, or selling through a broker.
Wine Brokers – If you choose to list your best wines through a broker, a fee will be applied to the total transaction amount between 5% and 15%. These fees need to be agreed upon before registering your mistakes with a broker.
The benefit of working with a broker is that they have a pre-selected list of regular wine buyers to contact your collection. Your ability to market a product often reduces the overall time included in the sales cycle, which is beneficial to many collectors. The disadvantage of working with a wine broker is the commission associated with the transaction.
Auctions – Like popular online auction sites, wine auctions have lots of wines for sale and pass them on to the highest bidder. If no bid is accepted, the wine may be offered for sale at another auction in the future.
Wine auctions offer a number of benefits, including being able to sell at a fair market price, the ability to reserve a sale price, and a focused audience to showcase items from your collection. One of the drawbacks of auctions is the fees charged by the auction house to list or display your item.