PeterG7 started a discussion
11 years ago
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11 years ago
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@PeterG7 I've never attended a live auction, but have bid online at a number of McTear's events, live as if in the room but just at my desk instead.
I know of many people who have put bottles in auctions and most offer reserves. They will charge you to put on a reserve, but that's part of how they make money :)
My advice for bidding: Research the catalogue before bidding. Choose what you are interested in and read up on those lots. Work out what you think is a fair price for the bottles you want and how much your maximum is. And what your real maximum is :) Make sure you don't bid over your real maximum... Work out what the buyer fees are before bidding - factor that in to your price. For UK auction houses it normally works out to about 25% on top of the hammer price (buyers fees, internet premium, credit card fees, sales tax, etc...).
11 years ago 2Who liked this?
@cowfish Thanks for your advice. Bonhams has sent me a couple of emails recently enquiring if I'd be interested in putting one of my bottles into their auction. I had contacted them about a year ago and I suspect they keep a file and were just following up. With the information you provided, I can now ask more specific questions before considering it
11 years ago 1Who liked this?
I've purchased off whisky auctions in the past, however I have yet to pick up my bottles as they've been waiting 9 months for me in Scotland. However I should be picking them up in about 3 weeks time so I'll let you know how it goes!!
11 years ago 1Who liked this?
I'd be very interested in hearing your views on whisky auctions. There is one coming up in Oct in NYC that I would like to attend. What I would like to know is the following: Has any one attended an auction and if so, what were your overall impressions? Has anyone ever put a whisky up for sale? If you did, are there such things as a reserve bid? If you were at an auction and were bidding, how did you maintain control of your emotions and not get caught up in a bidding war?
I think most auctions publish their whisky, so you could do prior research on what is being offered and determine a reasonable price you would pay. Any comments, suggestions would be welcome