Estimating your wine

Estimating the value of bottles of wine, and then buying them back, is a useful operation when you need cash, when your cellar has reached too large a volume, or when your tastes have evolved and you want to buy new ones. But how do you define the value of your bottles? And what channels can you use to buy back wine? This article tells you everything you need to know about selling your wine or buying back your cellar.

Several factors are taken into account when valuing bottles of wine:

• - The quotation
• - Market price
• - Brand name
• - Rarity/millennium
• - Tasting notes

How is the market value of my bottle of wine determined?

First of all, we need to consider the market value of a wine. This is defined mainly by auction sales. The quotation is the price of the wine sold in the auction room (known as the hammer price), plus the legal fees deducted from the proceeds by the auctioneer at the time of settlement. Next, we have the market price, which can be analyzed by several price comparison tools on the Internet. Here are 2 tools that the entire VinsGrandsCrus team uses every day to always offer you the best market price. WineDecider and Winesearcher, these 2 tools use the same model to calculate average wine prices. It's important to note that in this model, wine auction prices are excluded to obtain the real market price with no costs included.

Brand (reputation) and rarity are equally important factors in determining the value of a wine. A vintage will influence the price upwards, with each past year increasing the price of a bottle from the same estate by 5%. The quantity produced will also be taken into account: the less a domaine produces, the rarer the wine, and therefore the brand, will be. For example, the famous Domaine Romanée-Conti, which produces just 6,000 bottles of its Grand Cru wine a year, can fetch €6,000 a bottle, which is a considerable boost to the estate (the brand) and therefore its reputation.
Last but not least, the tasting note given by professional tasters called oenologists is a factor of no little importance. Each oenologist can choose how much to score. Some rate out of 20, others out of 100 or 5, and the criteria for rating a wine also vary from one oenologist to another. Everyone sets up their own tasting sheet. When estimating the value of a wine, the closer the score is to 100, for example, the better the wine. As a result, prices inevitably rise.

So we've seen that several factors are taken into account to determine the market price of each bottle of wine. With so much information to take into account, it's always best to get in touch with a professional like the VinsGrandsCrus team, who can help you estimate the value of your wine, and can also provide you with an online estimate.

How do I buy back a bottle?

There are 2 main channels for buying back a wine cellar or a bottle of wine: direct sale or auction.

In the case of direct sales, you should contact professionals like VinsGrandsCrus, who will offer you a fixed price for the bottles of wine you wish to sell. The price quoted is commission-free, based on the actual market price (explained earlier), and payment is made in cash on delivery of your bottle(s).

Auctions, on the other hand, which are the second possible circuit for a bottle buy-back, work a little differently. It may have its advantages, but it's a gamble by nature. Indeed, an auction will never give you the same profitability twice, and a certainty of price and/or sale. Depending on the time and place of the auction, the price will be different, and the purchase is not guaranteed. And don't forget that buyers and sellers pay a commission of up to 16% and 25% respectively, a cumulative deduction of over 32% from the advertised price.

There are other restrictive aspects to bear in mind:

• - Payment must be made at least 45 days after you have made your wines available to the auctioneer (30 days after the sale...)
• - logistics are your responsibility
• - You must collect unsold bottles

Now you know a little more about buying back bottles of wine. Don't hesitate to contact us if you have any further questions or if you would like to estimate a wine