Five Mistakes People Make When Selling Their Wine Collection

The following are at least five mistakes people make when selling their wine collections:

1. Often times, people just give away high valued portfolios. Some people think that they must spend weeks or months applying for a liquor license. Others think that the process of selling to a wine buyer has to be lengthy and drawn out. Neither assumption can be further from the truth, if dealing with the proper wine buyers.

2. Some people expect too much. For example, some allow an auction house to estimate the value of a wine collection, without having it appraised separately first. This may entice a seller to auction their collection with the auction, since they may propose to the seller overestimated values for their wine. Usually however, the collection will sell for far less than the amount the auction suggested that it would retail for. That's how some unscrupulous auctions get their foot in the door with sellers.

3. Many unfortunate people get the bait and switch pulled on them. Some unscrupulous wine buyers may give a high estimate up front for the price of a collection. Then, once the wine is received, and they are supposed to pay, they will claim that the condition of the wine is worse than what was claimed. That's when they will come back with a low-ball counter-offer to the seller. At this point, the seller has invested so much time, they feel inclined to accept the offer.

4. Some don't ship the wine correctly. Incorrect shipping is another major mistake that people make when selling their grapey goodies. The wine may get too hot, or the labels may erode or get damaged, or the bottles break in mid-shipment. Regardless, make sure you package your bottles correctly, no matter how you send them.

5. Some sell their collection online incorrectly. Many people will sell things online because they think it is convenient. But this does not always work with alcoholic beverage. People selling their wine collections online may find it difficult since sites like eBay, for the most part, don't allow wine to be sold online. Those that do will require a license to sell, which is discouraging for those who wish to sell their collections quickly and hassle-free. Selling wine online can open you up to a lot of wasted time and a very steep learning curve.

What then should you do if you want to sell your wine? Quite simply, find a good wine buyer online and discuss with them your collection. If they can address your needs and you are satisfied with how they plan to work with you, then go with them. If you don't like the person you are dealing with, there are plenty of other fish in the sea who would love to buy your wine collection.