Wine by auction is a process of selling alcoholic beverages, such as bottles of wine. There are two main types of wine auctions: first hand wine auctions, which are held by wineries, and second hand wine auctions, which are held by auction houses or other auctioneers. Both types of auctions are popular and offer an excellent way to buy or sell alcoholic beverages.
The best part about buying wine by auction is the fact that you can try out several different types of wines and get the best deal. You may not get as many bottles as you’d like, because many of the lots contain twelve bottles. However, if you have the patience to try three to six bottles, you can find a bargain.
Before attending a wine auction, familiarize yourself with the auction catalog. This catalog contains information about the wine and how it was made. You may learn about various terms, such as humidity-controlled storage, passive cellars, ullage, and provenance, which can help you choose the best wine for you.
Wine auction lots are often divided into lots of one to twelve bottles. The price of each lot may be below or equal to the retail price, which means you can get a good bargain. You should also be aware of the auction house’s rules regarding consecutive duplicate lots. If two or more lots are sold at the same time, the auction house will likely lower the opening price of the first one, which could drive up the price of the second one.