Sell Wine Collection For Profit

You want to sell wine collection as soon as you can. If someone has collected a substantial inventory there may be a point when they want to part with some of it or all of it. Not only wine collectors, though, sometimes want to part with what they've accumulated. Someone may inherit a collection and not want to keep part of it or all of it. This may not occur very often. So, it is understandable that most people are unfamiliar with how to do this.

The chances of finding someone to buy one bottle of a quality wine is small. However, there are many techniques to sell a collection. The most popular ways are to contact an auction house, engage in a person-to-person transaction, or by contacting wine merchants that make a business of selling collections.

If you cannot prove the provenance of your vintage or if it has not been stored in ideal conditions it will be more difficult to sell it. Provenance is the documented proof of a vintage and ownership of something. An example of a resource to check the quality of your inventory is Wine Spectator's Auction Price Database's auction database.

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.

You can get an idea of what wines are selling for nowadays by checking with companies that specialize in pricing in this niche market. This is a good start point because you then have a start point to refer to. Some companies will want an inventory of what you own. They can then provide you with an estimate of what it is worth. There are companies that will buy your group outright. They will even come to your residence and pack and transport it to their storage facilities.

For a quicker but perhaps less accurate idea of what your inventory is worth you can research all of the prices yourself. Add them up and half that total. If your group has been in less than ideal storage conditions, part with it for less than half of that total. Advertising on Craigslist is a good alternative also.

There are auction houses that specialize in selling articles of quality including a vintage. Auction houses will want proof or documentation of how the wine was stored. Normally, they will be interested in large inventories only. Try to have an inventory and approximate valued already determined to compare to what they say the inventory is worth. The auction house may decline if they believe ideal storage conditions were not maintained.

An auction house's commission structure should be carefully reviewed when engaging them to sell wine collection inventories. They may also charge storage or insurance fees. These additional fees can add up to be quite substantial. Some will not charge you a commission when you sell wine collection if you accept their version of a store credit.

About the Author:

Read more about Sell Wine Collection For Profit visiting our website.