Every collector will experience that point in time where you ask yourself, “is it time to sell?” Whatever type of collection you own, sometimes it’s time to get out, or at least reduce your holdings. Wine collectors are no different. One thing to keep in mind is the number of resources out there to help when the time comes to sell your wine collection.
Wine collectors often turn to auction houses such as Sotheby’s, Christie’s, or Bonhams to sell a wine collection. However, most of the larger auction houses have specific requirements to enter their auctions. Some only accept extensive collections valued at particular price points. There’s an ever-increasing amount of resources out there as an alternative.
Rocket Wines International
When you decide to sell your wine collection, Rocket Wines International is there for you. Based in Washington D.C., Rocket Wines will travel to you, inspect your collection, and begin consulting your options. They have over four decades of experience in the wine industry, traveling the world investigating wine. In my opinion, the best thing about selling your collection to a service like Rocket Wines is avoiding the hassle of auctions. They offer prompt payment after their inspections are complete. Why bother with the stressful auctions not knowing where the prices will come in. Selling your wine collection to experts in the industry is a pain-free and potentially profitable way to part with your bottles.
Since 1934, Sokolin has been one of the premier sources for fine wine. Located just off the Long Island Expressway near New York City, Sokolin has been in the business of buying and selling great wine for almost one hundred years. The original owner David Sokolin received one of the first liquor licenses by New York State after the repeal of Prohibition. The company is still operated by the grandson of the original founder.
Over the years, Sokolin has built a team of expert analysts who are tuned into the wine collector market and monitor its ups and downs. Sokolin will complete a detailed analysis of your collection to get the best value for the current market conditions. Not only that, but Sokolin will provide shipping in durable packing containers solving all transportation concerns. They even include the cost of insurance while your collection is in transit. Another unique feature Sokolin offers is the ease of online submission. Through the company website, you can submit details of your collection and upload relevant documents and photos.
A practice that’s becoming more common lately is the sale of private wine collections to local high-end restaurants. Many chefs are recognizing the advantage of purchasing ready to drink wines for their patrons. Creating a relationship with local restaurants by selling bottles from your personal collection could also be a rewarding experience. Imagine dining at your favorite restaurant, and after your meal, the chef strolls by your table to thank you for your contribution. Just be sure to comply with your local and state liquor laws for any restrictions on sales to restaurants.
WineBid is an online auction service linking buyers and sellers of wine collections since 1996. In the early years, online commerce was a completely new concept. The company helped create a market by innovation from day one. WineBid offers wine auctions around the clock, 24 hours a day, seven days a week. Buyers can place bids or buy instantly. They offer 52 auctions per year, with thousands of bottles added every week. WinBid staffs two sommeliers full-time to inspect every bottle by hand. Since 1996 the company has sold over 800,000 bottles of California Cabernet and almost 600,000 bottles of Bordeaux. WineBid has offices in Seattle, Napa, CA, and also Hong Kong.
Relax and enjoy the pursuit
These are just a few of the numerous options you have when considering selling your wine collection. Whatever it is you enjoy collecting, from wine to baseball cards to rare coins, it’s nice to know there’s a variety of options available if you need to sell. Setting your mind at ease will make you a better collector. Relax and enjoy the pursuit.