If you are like most collectors, deciding to sell your wine collection online was a monumental choice. You may have come to this decision because you are moving, want to start your collection all over again, or your collection may have grown too large for you to manage. You may have even decided to reap a nice return on your investment in your collection.
Whatever your reason for selling your wine collection online, you must now decide whether to sell your entire collection to just one buyer or put each bottle up for auction. As with any difficult choice, there are pros and cons to each approach.
Pros and Cons of Selling Your Wine Collection to Just One Buyer
You might ask yourself, “Should I sell my wine collection lock, stock, and barrel to just one buyer? Or should I sell my wine collection one bottle at a time?”
The answer really depends on your needs and expectations. There are two primary reasons for selling your collection piecemeal:
Selling your wine collection online one bottle at a time to multiple buyers is both exhilarating and exhausting. Watching the bids tick upwards is thrilling, especially when a bidding war breaks out. Lackluster interest in an expensive bottle of wine is nothing short of horrifying, particularly when it looks like the winning bid will be far short of the wine’s actual worth. Auctions can go terribly wrong for many reasons, such as a poorly written description, a bad picture of the product, or trends in the market.
You may have trouble selling the first couple of bottles when you first sign up for a person-to-person wine auction site until you build up enough feedback to seem reputable. You can avoid this annoying problem by selling your wine collection online in entirety to one buyer.
Sell each bottle separately if you do not care to build a relationship with your buyers. Building a relationship with just one buyer improves your chances of receiving personalized service throughout the entire process. Working with multiple buyers increases your risk of clashing with buyers who are looking to make a quick deal but selling to a large number of buyers can widen your social circles.
It may take days, weeks, or even months to sell off an entire collection one piece at a time. This means the proceeds from the auctions will trickle in so slowly you may not even notice them. In contrast, selling the entire collection at once is easy, quick, and painless. When you sell your wine collection online in entirety to one buyer, you get the price you want for the entire collection. You will also realize the full value of your wine collection in one sitting.
How to Sell Your Wine Collection Online
To sell your wine collection online, start by taking inventory. Write down the vintage, wine name and producer, number of bottles for sale, and size and condition of the bottles so that you can supply that information to the buyer. Perform research to establish a reasonable price for your wine.
Contact Cellaraiders, a reputable wine buyer who has an established network of qualified buyers and experience to maximize the value of your wine collection.