Sell Wine Collection For Profit

by Vicki Diaz

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.

An inventory that has not been stored in perfect conditions may be difficult to sell. Provenance, that is, the chronology and proof of vintage and ownership will usually be required by the auction house or the wholesale merchant. There are online auction price databases one can use to estimate what an inventory is worth.

Here is an example of a real-life large scale inventory that was sold to a large auction house in New York. The collector chose to sell about 90 percent of what was in his cellar. That totaled about 9,000 bottles. Another real-life example is a collection that the owner valued in the five figures. It is more likely, however, that most groupings would be of a more scaled down size.

There are websites that one can use to find out what wines are selling for today. That is a good way to begin your information collecting. You'll have a reference point to start with when speaking to wine merchants or auction houses. Most companies will want an inventory list of what you propose to sell. Then they can give you an appraisal of what it is probably worth. Some will buy your whole group in a single transaction. They can come to your home to pack and ship your inventory to a storage warehouse they use.

You can look up the prices yourself to find out what you inventory is worth. This may be faster to do but less accurate than if a professional does it. Total the value and half it. If the inventory was stored in warmer conditions you'll need to lower its value even more. Include a disclaimer that identifies the process you use. Craigslist is an easy, inexpensive way to advertise your sale.

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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