Delving Into the Vicarious World of Auction Wine Investing

In past columns, we’ve explored the rarified air of the high-end wine auctions. Typically, the domain of the 1 percenters, it might seem that these auctions are the playgrounds and/or the battlefields of the rich. Auction houses carefully curate their offerings; the average price of a bid lot typically tops $3,000.

It would seem these stratospheric prices exclude anyone seeking to purchase and enjoy wines beyond those available in their local wine shop. For some wine consumers, those who have developed a fine palate and wish to enjoy finer wines, the concept of attending an auction is intimidating and beyond their credit card limits.

Fear not, all ye who live vicariously through the checkbooks of those you silently envy.

Cast aside your trepidation. Step into the world of wines otherwise hidden from view in the catalogs and sales sites of auction houses. Expand your palates and your appreciation of older wines. Delve into the world of fine wines – at prices not much more than a mortgage payment or a student loan installment obligation.

So, if you can rationalize a splurge or two, follow me down the exponentially growing opportunity of bidding on wines not found in the brick-and-mortar world – the digital world of electronic auction bidding.

Yearning to avail yourself of an older bottle of Bordeaux or Burgundy? Ever wondered what the taste and aromas might be of your favorite California Cabernet Sauvignon after several decades of aging?

Look no further. Your furtive quest may be satiated through digital technology. The internet has advanced the ability of procuring wines from the comfort of your home, office, coffee shop or anywhere you can find a Wi-Fi connection.

Here’s how.

Open an account with an electronic auction house. Several brick-and-mortar houses have established collector-friendly sites. Simply create an electronic account and establish credit and you’re ready to delve into the vicarious world of wine enthusiasts.

One of the earliest virtual auction houses is www.Winebid.com. Many of its offerings are small lots, even single bottles. Some may be won for under $50.

All of the high-end houses offer internet bidding, which tends to be of lesser expense to them. A favorite among bargain-seekers is Heritage Auctions.

Here are a few hints.

1. Decide which regions or vintages you’re interested in beforehand. Auction houses offer online catalogs you should browse before the auction begins. You’ll avoid the stress of the fast-paced atmosphere of more aggressive bidders.
2. You don’t have to bid in the live online auctions. Perfectly acceptable are pre-auction bids that set the maximum you wish to bid for select lots. Let the auction house manage the bidding for you.
3. Price-check retail prices of wines you plan to bid on at the website www.wine-searcher.com. It’s a fine reality check of reasonable market prices.
4. Don’t be overly concerned with vintage ratings. My maxim: there are excellent wines from poor vintages and mediocre wines from great vintages. Many fine wines are hiding right in front of us in full view, obscured by a critic’s blanket assessment of a vintage. Check out www.CellarTracker.com, an excellent resource for further guidance.
5. Perhaps the greatest bargains, relatively speaking, are wines that are noted as having torn, stained or faded labels. They may not be trophy wines, but they will afford you the opportunity to taste a rare wine at a more reasonable cost.
6. Remember that online auction sites are in the business of generating profits for themselves. Be sure to factor in the mandatory buyer’s premium and, oftentimes, shipping charges. These costs may add an additional 20 to 25 percent surcharge to your purchase price. Your $300 to $400 purchase may ultimately cost you up to $500.

Are online auctions the panacea for forlorn wine consumers envious of high-end investors? You decide. As for me, a brief encounter with an aged nectar of the gods is a sublime experience, even if infrequent.

Nick Antonaccio is a 47-year Pleasantville resident. For over 30 years, he has conducted wine tastings and lectures. Nick is a member and program director of the Wine Media Guild of wine journalists. He also offers personalized wine tastings. Nick’s credo: continuous experimenting results in instinctive behavior. You can reach him at nantonaccio@theexaminernews.com.

Nick Antonaccio