Play the Wine Auction Game

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Play the Wine Auction Game
By. Kckudra

Wine auctions are big business these days, and although you may not have given it much thought, there are becoming more and more popular both online and offline. Private companies are getting rid of their end of ranges, estates are liquidating production ends, and charities are using wine auctions as fundraisers.

Auctioneers have already forecasted that over the coming year, there will be a quiet, but steadily expanding market for wine auctions. Wine auctions and online wine sales have become the perfect method for people to purchase otherwise hard-to-find or impossible wine gems at a fraction of the cost they would normally pay.

The publicity that the oldest and most expensive wines sold at auction garner, might give many consumers the idea that wine auctions are for connoisseurs and the very rich. In most cases, this is a mistaken assumption. In some of the better-publicized wine auctions for charity, you can make a charitable donation and in return receive a delectable bottle of wine.

Wine auctions are live just like you have seen in the movies, and they are great fun to attend. With the exception of some high-profile sales like the Andrew Lloyd Webber sales, most wine auctions are actually quite a quaint and cozy affair with 70% of the winning bids coming from the trade and the other 30% up for grabs at very reasonable prices that anyone can afford.

With well-heeled benefactors willing to bid thousands for a single bottle of a prized wine, wine auctions become an excellent source of donations for local charities. The beauty of online wine auctions however is the availability of the "hammer" prices after the auction is over and you can browse and search the databases to find the selling prices of all the wines sold. This will give you a great background if you go to a live wine auction either online or off.

Wine auctions are not only fun, but also they are exciting as well. At times, this can lead to impulse buying with a punter paying a higher price than they normally would. Research is the key to staying in the bargain range and out of the fleeced range. Avoid getting carried away. Auctions bring fine, old wines to market that ordinarily stay in wine cellars until they go bad.

Knowing what the various wines are worth and what you are prepared to bid will go a long way towards offsetting the "getting caught in the moment" of an auction. For wine houses, it is a convenient way to open up their wine cellars and dispose of wine that would otherwise spoil. Auctions are also typically set to go through lunch hours for obvious reasons. The heaviest bidding occurs in the middle of the day, and thinks about it, what a lovely way to enjoy our purchase.

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About The Author, Kckudra

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