Archive for September, 2009

Broking via Bid for Wine

Posted in Auction help and tips, News, Site improvements and modifications on September 1, 2009 by AB

Bid for Wine are pleased to unveil an entirely new way for people to sell wine with us – our revolutionary ‘broking list’ option.

The broking list option is an alternative to listing wines for auction. It allows you to set a price at which you are willing to sell your wine but gives the flexibility to negotiate or accept offers around this price.

The process works as follows:

1. You add your wines to our broking list via our selling wizard and set the price around which you’re happy to sell.

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2. Wines can be bought immediately at the price asked or potential buyers can make offers. These offers can be accepted, rejected or met with a counter-offer – you only need sell if the asking price is met.
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3. All offers from buyers are valid for 48 hours whilst Counter offers are valid for 48 hours or until the lot sells, whichever is sooner.

What are the benefits of this system?

-It is particularly well suited to selling more expensive wines lying in professional storage (these generally have a clear provenance and thus pricing is transparent). Such wines don’t always achieve their maximum potential at auction if buyers aren’t looking for the wine during the running period of the auction.

-It gives you absolute control over pricing – you can choose your price rather than being guided by merchants with a vested interest in setting low prices to achieve as quick a sale as possible.

-Wines can be sold where they are lying (saving you the cost of moving them around prior to sale).

-No need to sell unless your asking price is met – so you can list those wines you’ll probably never drink but aren’t actively looking to sell.

-There are no upfront fees whilst commission is charged at Bid for Wine’s usual low rates.

For example:

Selling Price: £200
Bid for Wine’s charges: £21.30
‘Standard’ broking commission of 15%: £30
You save: £8.70

Selling Price: £500
Bid for Wine’s charges: £47.18
‘Standard’ broking commission of 15%: £75
You save: £27.83

Selling Price: £1000
Bid for Wine’s charges: £90.30
‘Standard’ broking commission of 15%: £150
You save: £59.70

Further details: