Selling Wine: FAQs
Actually, despite the big name generalist auction houses having big names, they also have big charges for vendors and importantly also for buyers. Due to our reach, marketing, fair buyer’s commission and trusted reputation as a specialist in the wine industry, achieve similar the same (and often higher) hammer prices for fine wine, and as the seller’s commission rates are also lower, you will receive a far greater proportion of the value of the wine than if you had sold your wine through a generalist auction house. That’s why savvy wine collectors use Bacchus Wine Auctions to sell their wines.
Here’s a real example: LOT 197 CHATEAU LATOUR 1990 sold in our December sale for £5,200 GBP – exactly the same equivalent sterling hammer price as Christie’s in New York. However, our buyer only paid £780+VAT commission, and our vendor received at least £4264. The vendor from the sale in New York would have received a far lower return than ours and the buyer in New York paid over £1170 in commission alone.
There’s a lot to do to prepare your wine for auction, registering it in our catalogue and taking high resolution photographs to ensure we can market the wine to interested buyers. We need to have the wine in our warehouse area at EHD Sunbury at least 4 weeks before a sale. Click here for the deadlines for our next wine auction
Until the wine is sold, you remain the owner of the wine.
Our specific storage is at EHD’s premium fine wine facility Locke-King Vaults. This underground network of tunnels provides ideal cellaring conditions for wines and many private collectors have private accounts there too.
All wines are fully covered by EHD’s insurance at low estimate.
If there is a minimum amount under which you would not wish to sell the wine, then do set a reserve. The value you set is entirely up to you as the vendor, however we usually recommend that it is just below the low estimate valuation given.•
This does happen, although on average well over 70% of our wine typically sells through at each of our auctions. After a sale, we do offer out unsold lots to key customers or those that may have missed the auction unintentionally. If the wine is not sold through these ‘post-auction sales’, then we will discuss with you whether you wish to enter the wine into our next live or timed-online sale or whether you would like to arrange collection of the wine to take it back.