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Wine auctions are an integral part of the wine world. In addition to on-site events, numerous online auctions are now held each year where thousands of wine bottles find a new home. While some are on the hunt for the ultimate bargain, others are finally finding the original of their favorite wine after years of searching.
In addition to all this enthusiasm, it is often forgotten that buying wine at auction is associated not only with opportunities but also dangers. These are sometimes important, so interested bidders need to think carefully about their purchasing strategy. That’s why we’ve outlined the main dangers of attending a wine auction.
Counterfeit products in circulation
Wine counterfeiters have long been targeting not only rare and expensive wines, but also wines in the middle price segment. Some fakes are so good that even wineries can’t tell the difference between real and fake bottles. For particularly rare ones, it’s worth adjusting the bid down a bit. Because ultimately buyers are responsible.
Improper storage
No matter how good it is, it can spoil in a very short time if not stored properly. And this despite the fact that the bottles still look perfect from the outside. A wine auction house can rarely provide complete evidence of whether a bottle of wine has been stored properly over the years and at what temperatures it has been transported. Here too, the risk belongs to the buyer.
price inflation
This phenomenon can occur both at on-site wine auctions and online. Two or more bidders really want to buy a particular wine and outbid each other. The bid price is increasing rapidly. In such a situation, it is important to maintain composure. If other people want to pay too much for a wine, you shouldn’t get in their way.
fees
Before bidding at a wine auction, you should carefully examine the conditions. In addition to the hammer price, many auction houses charge a premium of around 10 percent. There is also a party fee of around 10 francs, before the full amount is offset by 8 percent VAT. The highest bid for a bottle of wine from a single batch of 100 francs results in an effective selling price of 129.60 francs.
alcohol effect
Most on-site wine auctions take a short break halfway through the program. Wines are often served for tasting purposes. Anyone wishing to bid after the auction break should stand back during the tasting, especially if a large sum of money is involved. This will help you clear your head and may keep you from making a purchase you’ll regret the next morning.
Source : Blick
I am Dawid Malan, a news reporter for 24 Instant News. I specialize in celebrity and entertainment news, writing stories that capture the attention of readers from all walks of life. My work has been featured in some of the world’s leading publications and I am passionate about delivering quality content to my readers.
