In order to help you get the most for your money on the next online wine auction you take part of, we've compiled a simple beginner's guide, consisted of important tips and strategies.
The name of the producer and the year of the production are not the only important information to know about the wine you are bidding on. You should get informed for the actual quality of the vintages, the provenance of the wine. Also, you ought to learn how to read the bottle labels, which includes learning the meaning of the abbreviations. Knowing how to learn abbreviations is important because in general they best speak of the bottle conditions you should keep on mind after you purchase the wine. Since you are bidding online, do not hesitate to ask the seller to send you clear pictures of the bottle of wine you plan to buy.
Tip #2: Know the Real Worth of The Wine You Plan to Buy
One of the biggest misconceptions when it comes to online wine auctions is that only expensive wines are sold. Yes, it is true that skyrocketing prices are easy to be found on auctions, but that doesn't mean that every bottle of expensive wine is really worth for that price. In order to avoid splurging on a single bottle of overpriced wine, do a research and learn about the auction market value. There are many websites where you can learn about the real worth of both, retail and collectible wines.
The auction fever is a dangerous thing, that makes you forget how much you are really prepared to spend. For this reason, try your best to keep your emotions in check when placing your next bid, no matter how unique a bottle of wine may seem to you and no matter how much you want it in your wine collection.
Tip #4: Read the Lengthy Legal Explanation at The Back of The Auction Catalogue
Also known as Caveat Emptor, the explanation on the backside of the catalogue explains all the rules of the auction house. In general, from this explanation you'll learn whether the auction is “buyer beware” meaning that the auction house is not responsible for the actual quality of the wine. Since most of the online wine auctions are of this kind, never overlook the importance of reading about all the rules, unless if you are prepared to spend a fortune a bottle of flop wine.
Tip #5: Make a Game Plan Before You Enter The Online Auction “Room”
Last but not least important, coming up with a good game plan is a key to winning on online wine auctions. To make a winning plan, what you need to do is to make a list of the potential bottles of wine you would like to purchase and develop your unique buying strategy.