The team at Whisky.Auction have covered most of what you need to know if interested to venture into the world of Online Auctions, whether for whisky, rum or any other spirit category.
This blog post contains links to their website and blog with hints and tips on making the most of Online Auctions.
Their blog is also an interesting site, providing some additional insight such as:
Day in the Life of a Cellar Manager
TOP 10 SELLING TIPS
- Research what’s hot and what’s not. you can give Whisky.Auction a call or ask for a valuation.
- Send your bottles to Whisky.Auction as soon as possible before the next Auction. The earlier your items arrive, the sooner they can get them listed, photographed and ready for the Preview catalogue.
- Submitting your items early gives you plenty of time to check the online listing even before it goes live. Do let them know if you spot any errors!
- Pack your bottles carefully before you send them to Whisky.Auction. They recommend lots of bubble wrap, then a bit more for luck.
- Include any original gift boxes, outer packaging, spare stoppers, certificates and receipts. Anything that will help the bottle sell might add value too.
- Avoid setting a high reserve price for your lot. In fact, Whisky.Auction recommend you don’t specify any reserve price at all. Reserve prices can put people off bidding altogether and you may find your item ends up unsold even when similar ones sell for more at the same auction! The only exception to this rule is if you expect little interest in a niche product that’s rarely seen for sale.
- Most of the bidding activity occurs in the final few hours of the auction. So don’t be unduly alarmed in the early stages if bids for your items aren’t close to their estimates. Having said that, if you really think your item isn’t getting the attention it deserves, please let them know.
- Think internationally when you’re choosing what to submit and when. Whisky.Auction have buyers and sellers across the globe so seasonality might matter less than you’d think.
- Don’t bid on your own items to try to boost the selling price. It’s illegal! If Whisky.Auction find that you are pushing up a price artificially by bidding against yourself or by getting family or friends to do so they will close your account.
- Whisky.Auction is not just for selling your Single Malts. Bidders come to them for blends, American and Irish whiskey, Japanese and world whisky and all sorts of other spirits such as Rum, Cognac, Armagnac, gin, vodka, Tequila and liqueurs… as well as memorabilia such as branded glassware, jugs, and books.
For the Top 10 Buying Tips click here.
HOW TO GUIDES:
How To Value a Bottle of Whisky
How To Understand The Auctioneers’ Scheme and Margin Scheme
Other Useful Links on the Whisky.Auction website:
For Reference – Inside the Cask chat with…Isabel Graham-Yooll, the Auction & Private Client Director at Whisky.Auction
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