Guide to selling your wine collection
Wine tends to have two types of subscribers – those that drink and enjoy it for what it is and who would never consider having more than a dozen or two bottles somewhere in the house; and those who collect and want to immerse themselves in the experience fully – who want to experience time capsules at their optimum drinking time. These collectors tend to get hooked into the whole experience, and a natural “ever expanding cellar” seems to just happen over a period of time.
Naturally, if you fall into the second category, you will soon realise that there is a significant amount of money invested and as we grow older and experience new things, our palates tend to mature and change. It naturally makes sense, at this point in time, to turn part of your excess or unwanted collection back into cash, to re-invest in other wines.
The first thoughts that come to mind when making the decision to sell is Where do i sell, What is the process,How do i get the stock there, What will i get for my wine and When will i be paid?
In Australia, there are only two viable channels available to people wishing to sell their wine collections. These are either via direct retail (consigning your stock to a wine merchant to sell through their existing wine business), or through Wine Auctions.
Please bear in mind that online channels such as eBay & Gumtree all require the seller to be in possession of a liquor license. Any alcohol listed for sale on eBay is required to have the liquor license number featured in the listing. Failure to do so results in the listing being removed, and possible reporting to Authorities.
Some traditional bricks and mortar wine shops may agree to consign your stocks for sale through their licensed business. Note that not all bottle shops are setup to handle old and rare wines (lighting, shelving, temperature, knowledge). The last thing you would want is your precious bottle of Penfolds Grange being positioned on a shelf near the front door with the sun beating down on it, surrounded by neon lights with temperatures of 28 plus during the day – sitting there for months! In addition to this, please consider the retailers margins (often 35% – 45% commission).
Some wine storage facilities offer to sell your wine while you store it with them. The key thing to remember here is that your collection won’t be the only one listed for sale through their sales platform – it will often be listed next to hundreds, or even thousands of other bottles (some exactly the same as yours). Prices listed are often closer to or higher than general retail, making the sale price potentially unattractive. Lastly, bear in mind that while the sales process is underway, you will be paying monthly storage fees plus handling and insurance on your collection. However, you will enjoy the peace of mind that your wine is in perfect storage conditions! Should this be an option you wish to pursue, enquire with these facilities about their sales and marketing plans for cellars listed for sale.
WINE AUCTIONS are your best option if you have good quality wine to sell. Specialist wine auctioneers, such as Anderson’s, apply our combined experience in assessing, valuing and sending to market your collections through our live and online auctions to maximise your return.