Curious world of Wine Auctions

Most of the wines in our collection come from local wineries where we are part of their wine club. Currently those are ScribeSilverado and Petrichor. But recently discovered a section on K&L Wines that’s been tickling my fancy. And that’s their auctions page.

Now before I continue, I don’t claim to be an expert in buying wines. I still do my research on every bottle I see and it’s a decision that you have to make. This is also not a paid post by K&L Wines, they’re just a big local wine merchant!

Pick what you’ll drink

The world of wine can be lucrative. If you buy at the right time, sometimes a wine futures, you could probably make a bunch of money. It can practically be a stock market. But as the great Warren Buffet once said: “I don’t invest in something I don’t understand.” and I’ve applied that here. I know what types of wines I like. So I go on the auctions page looking for wines that I would like to store or drink, not which wines I can profit off of.

It’s rather easy to narrow down regions on their auctions page. Find a region you’re particularly fond of and browse through what they have to offer. If I find something is within my price range I’ll go on a big Google search on that particular wine. What’s the normal asking price, tasting notes, reviews. I once spent a few hours reading up on one of the wines I placed a bid on. With all that information in mind, it’s good to have a max price. Then you can start bidding.

My research

I don’t proclaim myself a wine expert, I have a working knowledge of some random regions but that’s thanks to past research. If I find a wine that looks interesting and not astronomically priced, I’ll go on the hunt for more information. And by hunting I meant typing the name on Google and start reading.

There are a few sites I seem to find myself on. Predominantly I’ll read Wine Searcher and CellarTracker. These two will give you a mix of pricing based on a few sources, reviews and tasting notes. It will give you a good baseline knowledge of how much you should spend on the wine, and if the reviews or tasting notes seem like something you will drink.

If I have a bit of time on the auction, I will continue diving a bit deeper on a partciular wine. This will usually entail reading up on the history of the producer and the region.

Buy like you normally do

If you’re a serious collector then ignore the next part. But the thing that I’ve kept in mind while looking through the auctions page is that I’m buying like I normally buy. It’s a bit more work because of the unknown pricing, but the important part still remains: I am buying something I want to drink.

Leave a Reply

Your email address will not be published. Required fields are marked *