Archive for the Auction help and tips Category

Minimum Commission Charges on Consigned Lots

Posted in Advice, Auction help and tips, News, Site improvements and modifications on August 6, 2012 by AB

When we founded Bid for Wine in 2008, one of our key objectives was to provide a route to market for small parcels of old, rare or unusual wines which might not otherwise be available. Since then we’ve counted Soviet-era Moldovian wine, 1960s Pouilly Fuisse and 1880s claret amongst the items consigned to us for sale. Whilst our customers appreciate having the opportunity to purchase these wines, we often hear the comment that such lots are too small to make it cost effective to pay for shipping. From an operational point of view they present a challenge too as, once warehouse charges, time and administrative overheads are taken in to account they regularly cost us substantially more to sell than we actually take in commission.

From 1st September 2012 we will be introducing a minimum charge of £12+VAT on all lots consigned for sale to reflect the true costs involved in our offering these wines for sale. We expect that this will either encourage consignors to parcel up wines for sale rather than drip-feeding them in over a period of time or that where sellers are using Bid for Wine to thin their cellar we will see an increase in multiple bottle lots rather than single bottles. From a buyer’s point of view we hope this will give you access to more of the wines you want and in larger quantities.

Finally we should add that this change will not affect lots sold via the ‘direct’ listing route – only lots which are consigned for sale. We would however note that the point regarding the disproportionately high cost of shipping does apply to ‘direct’ listings. As such you are likely to find that your wines fetch a better price when offered in lots larger than just a single bottle.

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Bidding on the ‘Help for Heroes’ Auction

Posted in Auction help and tips, News, Site improvements and modifications, Uncategorized on October 12, 2010 by AB

As mentioned here we’re conducting an auction on behalf of Help for Heroes this coming weekend, 15th-17th October. Bidding on this auction will be a little different to usual – so watch out!

  • Until Monday morning, bidding is ‘blind’ – no-one will be able to see what others have bid. Instead you will be able enter a single maximum amount you’re prepared to pay for each lot via a special form (much quicker than normal bidding – we hope to roll the feature out more generally in the near future) and then submit all your bids at once. Bids placed at this point are final, and, whilst you can enter new, higher bids, you can’t reduce or remove a bid.
  • Come Monday we’ll start the auction. You’ll receive an email to tell you where you stand compared to other bids
  • If you’re the high bidder, sit tight and keep an eye on the auction throughout the day. We will of course let you know if you’re outbid. If you’re not winning when the auctions start you can bid in the normal way to increase your bid.
  • When the auction closes we’ll let you know whether you’re the winning bidder. All auctions in this sale will close at the same time though – so we advise entering a single, maximum bid early in the day and leaving it to the site software to bid on your behalf as the auctions close.

    Good luck – and remember your bids are for an excellent cause.

A couple of tasting notes

Posted in Auction help and tips, News, Site improvements and modifications, Uncategorized with tags on October 11, 2010 by AB

We’ve been quiet on the blog front (preparing for the Fine Wine Fair and organising various forthcoming sales has been taking up all our time). However I wanted to share a couple of notes on some wines which are coming up for sale shortly. Both are Australian Shiraz but are as far removed from the common perception of this wine as one could imagine. Indeed they share far more in common with Syrah from the Northern Rhone or the Languedoc.

Handhorf Hill Shiraz 2005

Dark red centre to crimson rim. Fine, delicately spicy nose with notes of plum, smoke, soy sauce and aniseed. Perfumed. Very fine and poised in the mouth – plenty of fine, delicate tannin and a good acidity underlies ripe but savoury fruit, tea, grilled meat and spice flavours. Real length. This will go on for years I think. 4*

Larkhill Shiraz 2003

Deep red to crimson rim. Very closed at first; a hint of American oak but that’s it. In the mouth this is a little more giving – some spice and red fruit. With time this opens up a little to become higher toned – almost shades of a top notch Rioja but with more pepper and dark spices. On day two the nose is very much in the sous-bois/pepper/black fruit spectrum. Cool and slightly peppery in the mouth, a real note of cooked plum on the long finish. Good wine – no crime to open it now but would be just as happy being forgotten about for a while. 3.5*

Forthcoming Sale Dates

Posted in Auction help and tips, News on June 4, 2010 by Bid for Wine

We’ve previously mentioned our move towards doing regular larger sales.  We’re pleased to announce our forthcoming sale dates until the end of the year:

25th June 2010 – 1st July‘No Reserve’ 2005 Bordeaux and others

A fine selection of wines including a large collection of 2005 Bordeaux in OWC consigned to sale by a fastidious private seller, all offered on a ‘no reserve’ basis.

Stars lots include 2005 Leoville Las Cases, 2005 La Conseillante 2005 Calon Segur. Also in the sale will be a horizontal of 1996 1st Growths (Latour, Lafite Rothschild, Margaux and Mouton Rothschild) plus a range of mature wines from Australia.

Other Sales will be held on the following dates:

    29th July 2010 – 5th August
    30th August – 6th September
    30th September – 6th October
    29th October – 4th November
    30th November – 7th December – Christmas Sale

Please contact us if you would like to discuss including your own wines in one of our sales or why not request a valuation?

Available catalogues for forthcoming sales can be viewed via the Forthcoming Sales link on Bid for Wine

Forthcoming Sales & Some Strong Auction Results

Posted in Auction help and tips, News, Site improvements and modifications on May 25, 2010 by AB

Forthcoming Sales

We’re pleased to announce a significant change in strategy for Bid for Wine with the launch of a series of regular large sales. The first, a sale of top end Burgundy including multiple vintages of Ponsot Clos de La Roche, Rousseau Chambertin & wines from Comtes de Vogue commenced on Friday 21st May. Auctions will be closing from 9AM onwards on 28th May.

The new approach will build on our consignment service run from EHD London in Weybridge. This is a full auction service including valuation, photography and collection of wines prior to sale. Until now, when wines were consigned to us for sale, they were normally listed and put up for sale immediately in amongst our standard ‘peer to peer’ auctions. Whilst this works perfectly for odd bottles, increasingly we’re being asked to handle large collections by consignment which requires a different approach. For example the client normally doesn’t want any direct involvement in the sale and the wines need to be visible for longer than simply just the 7 days of a sale.

Going forward we’re going to be focussing on doing larger sales of consigned lots every few weeks. Potential bidders will be able to browse lots for several weeks prior to the sale, either via downloadable catalogues or on the site whilst sellers will benefit from having their wines advertised via routes such as The Saleroom.

Lots in the Burgundy sale can be viewed here.

Results

We have been seeing some very strong results at auction recently with lots often selling close to or above their retail/list prices. Two examples are:

1 x 75cl Chateau d’Yquem 1990 – Sold for £246 (Wine-Searcher £225)

12 x 75cl Mouton Rothschild 2003 – Sold for £3050 (Wine-Searcher £3100)

If you are interested in having your wines valued, why not send us a list (see here) or give us a call on 0207 183 3985?

Other News
If you’re only interested in wines which are sold on consignment or are listed with no reserve price, you can now find them quickly and easily via the facetted navigation on the left of the auction page.

New Feature – Editable Auction Pricing

Posted in Auction help and tips, Site improvements and modifications on November 27, 2009 by AB

After a conversation with a client last week I decided that we were missing an obvious feature on Bid for Wine – the ability to edit the pricing of listings.

It’s quite easy to enter a buy now price which is too high (or low), or else to set a starting price at a level where bidders aren’t keen to start bidding (on this see here). Now you can edit the starting and reserve price of your auction listings until a bid is placed. For ‘buy now’ listings or ‘buy now or highest offer’ listings, prices can be edited at any time.

Click ‘Edit’ on your listing

If your listing is an auction, change your starting price (if over £1) and reserve price (if applicable) until the first bid is placed.

If your listing is a ‘buy now’ or ‘buy now/highest offer’ listing, you can change your buy now price and minimum offer price any time up until the listing closes.

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: