Wine auction

from Wikipedia, the free encyclopedia

A wine auction is an auction for wines . Wine auctions are becoming increasingly popular with collectors and wine dealers in particular, as a way of buying and selling rare wines. Wineries now often only offer their finer products through wine auctions.

history

One of the oldest wine auctions is that of the Hospice de Beaunes . Over the centuries, many of the town's residents have bequeathed their vineyards to the former hospital. To finance itself, the house has been auctioning its wines for over 150 years. The prices achieved are now considered to be an indicator of the quality of the vintage of Burgundy wines . Maximum prices of 200.00 euros for a barrel and over 4 million euros per auction are achieved.

annual sales

With an estimated annual turnover of 1 billion euros, wine auctions are a strong economic factor worldwide.

Auction houses

In addition to major auction houses such as Christie's and Sotheby’s, there are also specialized wine auction houses such as Bonhams, Zachys, The Chicago Wine Company, WeinCash and the Munich Wine Company. In addition, more and more online trading platforms such as ebay or WineBid are auctioning wines.

Often the buyers do not bid for the wines themselves, but rather communicate their wishes and asking prices to commissioners who then bid on behalf of the auction. The fees for the face-to-face auctions are between 15 and 20%, the online auctions between 8 and 15% of the hammer price. The wine database Wine-Stocks in Zurich monitors most wine auctions and shows the achieved wine prices in its wine price database. There are currently over 26 million auction prices listed there. The Win 100 wine index reflects the performance of wine prices for wine auctions.

Web links

Individual evidence

  1. ↑ a b A wine auction offers special and rare wines. wallstreet: online , archived from the original on February 20, 2012 ; accessed on November 30, 2017 .
  2. ↑ Beaune: Last Judgment and Young Wine. Merkur.de , accessed on November 30, 2017 .
  3. ↑ Traditional wine auction in Beaune. Focus Online , November 15, 2009, accessed November 30, 2017 .