As wine enthusiasts, dedicated collectors, we are always looking for ways to get rare or hard to find vintages. We scour our favorite wine shops and super-discount retailer, we might even join a wine club, always looking for that ever elusive vintage hidden treasure. Sometimes we succeed, but more often than not, we do not. Have you thought about buying wine at wine auctions?
Believe it or not, wine auctions offer some real buying opportunities. It is not uncommon for many wine auctions to offer ‘sleeping mass’, or the wines that fly low under the radar of public awareness and perception. Sometimes it’s just a question of timing, and a great buying opportunity comes up immediately and then disappear just as quickly with a loud report of the wine auctioneer’s gavel and his signature the word “sold”, spoken from the auction block.
Sure, some wines sell for astronomical prices in wine auctions. As a professional auctioneer, I can testify to that personally. In 2005 I participated as an auctioneer in the retail wine auction where we set five world records for the price of wine sold at auction. Despite the record prices achieved at auctions, some wines, this is still not that great buying opportunities do not exist or appear at these same premises wine auction. One bidder walked away with four bottles of 1985 Cake Bread Cellars (NAPA) Cabernet Sauvignon for just $ 125 dollars.