Sell wine collection and become an instant millionaire, screamed one internet advertisement. This is actually true; some owners may be sitting on collections worth millions of dollars. For obvious reasons, such people are loath to sell; it would feel a lot like trading in one's child. However, a number of factors may eventually lead an oenophile to convert their cellars into cash.
Another reason lies in a simple quirk of human nature; preferences change. A person may fall in love today, and find irreconcilable differences many years later, leading to a divorce. A brandy lover may reach the conclusion that their livers are worth more to them, and decide to sell what they have. Some oenophiles may decide to develop a passion for gardening, and decide that is a better pursuit than drink.
Whatever the motivation, a collector will suddenly have cellar full of drink to advertise. It is important to avoid doing so at very low prices; the biblical warning about not looking at the rain and wind applies here. If the seller sets the price too low because of current economic circumstances, it will be extremely hard to convince buyers to pay more when it improves.
There are several ways of determining a realistic price. The general idea is that the less there is of something, the more it will cost. For instance, the fewer the cases of that particular drink that exist, the more valuable it will be. Also, the adage that this drink gets better with age also applies to its sales price too; the older it is, the higher the price it is capable of attracting.
If the drink is from a single vineyard, it will attract a higher price; the same thing will happen if there are very few cases. It is important to conduct thorough research to find the current state of prices. The liquor market tends to be opaque, and there can be huge differences from one buyer to another. Online searches can be done for specific liquors.
Another approach is to engage the services of major auction houses, who will market and vend the collection at a fee. It is important to understand the bidding process and work with it; if any items fail to trade, they can be presented at a different auction in another location. Another way to find buyers is to do an online search.
One can also approach commercial sellers who buy and trade on their own account, a contrast to auction houses that do it for a fee. They are likely to offer less than can be made at auctions, but are usually willing to pay on the spot. One is not limited to using one method to achieve their goal; a variety of ways can be used.
Selling through auctioneers is also recommended, especially if the liquor is highly exceptional. This may bring in significantly more than other methods. The main disadvantage of this approach is that it can take long, particularly if very few people are interested. As the advertiser put it, sell wine collection and join the millionaires club; however, this may take longer than anticipated.
Another reason lies in a simple quirk of human nature; preferences change. A person may fall in love today, and find irreconcilable differences many years later, leading to a divorce. A brandy lover may reach the conclusion that their livers are worth more to them, and decide to sell what they have. Some oenophiles may decide to develop a passion for gardening, and decide that is a better pursuit than drink.
Whatever the motivation, a collector will suddenly have cellar full of drink to advertise. It is important to avoid doing so at very low prices; the biblical warning about not looking at the rain and wind applies here. If the seller sets the price too low because of current economic circumstances, it will be extremely hard to convince buyers to pay more when it improves.
There are several ways of determining a realistic price. The general idea is that the less there is of something, the more it will cost. For instance, the fewer the cases of that particular drink that exist, the more valuable it will be. Also, the adage that this drink gets better with age also applies to its sales price too; the older it is, the higher the price it is capable of attracting.
If the drink is from a single vineyard, it will attract a higher price; the same thing will happen if there are very few cases. It is important to conduct thorough research to find the current state of prices. The liquor market tends to be opaque, and there can be huge differences from one buyer to another. Online searches can be done for specific liquors.
Another approach is to engage the services of major auction houses, who will market and vend the collection at a fee. It is important to understand the bidding process and work with it; if any items fail to trade, they can be presented at a different auction in another location. Another way to find buyers is to do an online search.
One can also approach commercial sellers who buy and trade on their own account, a contrast to auction houses that do it for a fee. They are likely to offer less than can be made at auctions, but are usually willing to pay on the spot. One is not limited to using one method to achieve their goal; a variety of ways can be used.
Selling through auctioneers is also recommended, especially if the liquor is highly exceptional. This may bring in significantly more than other methods. The main disadvantage of this approach is that it can take long, particularly if very few people are interested. As the advertiser put it, sell wine collection and join the millionaires club; however, this may take longer than anticipated.
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