Perhaps you were given a special bottle of wine as a gift, you found one in your aunt's house or you still have a few bottles left over from that case you brought home from France after a wine trip 10 years ago. What is that wine worth now? And what to do ... drink it or sell it?
Whether it is a rare wine or a wine with emotional value, every bottle has a (financial) value. It is difficult to determine when now is the right time to uncork the bottle or sell it, but we can help you find out how much it is worth.
Step one: read the label
This will come as no surprise. Study the label carefully, all its details: the year, the producer, the type or variety, the size of the bottle, where it was made, etc. You should be able to find all this information on the label.
Step two: internet
Start searching for this wine online. If you can't find the exact wine, try to approximate it as best you can. Some examples of sites and apps to check include wine-searcher.com, vivino.com, winemarketjournal.com, wineauctionprices.com and wineowners.com/valuations. And then we have the well-known book Guide Hachette des Vins.
Step three: ask a professional
You have found its value. That's great. But don't be immediately pleased or disappointed. Previous sales, provenance and physical condition - from label to cork and everything in between - are part of evaluating a bottle. If you think your wine is worth at least €250, contact a professional.
"The most important thing is that the person evaluating the wine understands the wine market well, as well as the prices for specific producers and vintages," says John Kapon, president of Acker Wines.
Shaun Bishop, CEO of JJ Buckley Fine Wines, recalls a customer who wanted to sell a bottle of Quinta do Noval Port from 1963, worth about €250. "Upon investigation, it turned out that the bottling was actually the much rarer label called Quinta do Noval Nacional Port. Its value is about €3,500. The customer was very happy," Bishop says.
"An appraiser can determine the value of a wine based on questions such as where it was purchased, whether the invoice is still available and how it was stored," said Charles Antin, head of auction sales and auctioneer at Zachy's Wine Auctions.
And of course they want to inspect the wine bottle for such things as loss of liquid, damage to the capsule or label, etc. Also don't underestimate the forgeries especially from high-end Bordeaux and Burgundy, so the authenticity of the label will also be examined.
In most cases, this valuation is not free of charge, so ask about the rates in advance. It is certainly not worth having one wine bottle appraised, keep that in mind. However, auction appraisals for potential sales may be free of charge
"Wines come in multiples," says Antin. "Assuming they are in the same condition, a 1982 bottle of Lafite has the same price as another, said it with many caveats. The better the provenance is known, the storage has been and condition of the wine bottle is, the more valuable a wine can be."
Step four: to the auction?
Dunbar is a big fan of auctions. "Because they charge a seller's commission and a buyer's premium, the cost is lower than if you sell to a wine dealer." Dunbar suggests sending photos and information to auction houses and dealers to get the best offer.
Some auction sites include Catawiki, Vin.auction, Winefields and Sylvie's wine auction. Be sure to check the minimum contribution.
Every industry expert we consulted agreed: if you have one bottle and it's not a 1990 Romanée-Conti, drink it, give it as a gift or contact your local wine store.
Oh yes, tell us that you stored it in a EuroCave wine cabinet. The wine is guaranteed to fetch a higher value!
Source: WineEnthusiast
