Selling With Bid for Wine
Who can sell on Bid for Wine?
Bid for Wine is open to anyone to sell, though as the sale of alcohol is a licensable activity some users may have to appoint us to sell on their behalf. We are not able to provide advice on a seller's status, though as a general guideline private consumers occasionally selling wine previously purchased for personal consumption are not subject to licensing. Also, the sale of alcohol held in a bonded warehouse or other licensed premises is normally unrestricted.
What are my options for selling on Bid for Wine?
Bid for Wine offers three selling formats, more fully described below. The Marketplace allows you to make your own listings and manage the selling, receiving payment and delivery process yourself. Our Featured Auctions, offered alongside self-listed Marketplace items, operate in a similar way except we handle the listing, payment and delivery of items on your behalf. For the most valuable items we suggest considering our Live Auctions that take place every 2 to 3 months. These signature events take place in a salesroom and are conducted by an auctioneer with complimentary online bidding running alongside the auctioneer in real time.
Our selling commission structure reflects the level of involvement Bid for Wine undertakes on your behalf.
How can I value my wine?
Our online valuations service is free to use. Please be aware that a number of factors may affect the actual selling price of a wine including how where it has been stored, the ullage and the label condition.
If you require particular guidance on the items you are considering selling Bid for Wine can assist in arranging valuations and inspections of cellars, though this service may require the payment of a time-based fee if the items are not subsequently sold through us.
Bid for Wine is able to undertake formal Insurance, Probate and Family Division valuations for competitive time-based fees.
How do I start to sell?
If you do not know the value of your wine then we invite you to take advantage of our valuation services.
If you wish to list your wines over our self-listing Marketplace, click the SELL MY WINE link in the menu bar at the top of every web page and choose Marketplace on the following page. Our self-listing auction wizard will get your offerings online in a matter of minutes.
If you prefer for us to to sell your items in a curated Featured Auction, click the SELL MY WINE link in the menu bar at the top of every web page and choose Featured Auctions on the following page. We endeavour to respond to enquiries within 2 working days and generally more quickly.
I have an entire cellar or a large quantity of wine to sell - can Bid for Wine assist me?
Yes - Bid for Wine can offer sellers a full range of services including photography and cellar clearing. Please get in touch with email@example.com or upload your enquiry through our valuations tool.
What will it cost me to sell my wine?
Our fees schedule is formulated to be both competitive and logical. Marketplace listings offer the cheapest selling fees as you are doing most of the work and our role is primarily in hosting our systems and introducing your items to our 20,000 membership. Featured Auctions require our specialists to handle your items, photograph them, arrange delivery to buyers and collect the selling proceeds on your behalf. Our selling fees are commensurately higher. Finally, our Live Auctions offer sellers the additional advantage of being conducted in a saleroom having been externally advertised.
NB both Marketplace and Featured Auctions listings carry no buyer charges therefore buyers pay only what they bid. With traditional auctioneers charge buyer's premiums of up to 30% in addition to the selling price, our sellers benefit from receiving correspondingly higher selling prices.
a. Marketplace selling fees
Selling fees are charged on a cumulative basis with reference to the selling price:
Selling Commission is charged at the following rates calculated on the selling price per listing and is subject to a minimum of £2.50 + VAT per listing.
Band Value Commission Rate
From £1 - £250 9.0% + VAT
£250 - £2,500 7.0% + VAT
above £2,500 5.0% + VAT
If you elect to place a reserve on your listing you will be charged £2.50 + VAT at the time of listing and this will be deducted from your final Selling Commission invoice.
E.g. for a lot selling at £500:
Band Commission Rate Commission Charged
First £250 9.0% + VAT = £22.50 + VAT
Remaining £250 7.0% + VAT = £17.50 + VAT
Total £40.00 + VAT = 8% + VAT of the selling price.
NB there are no buyer's fees charged on Marketplace listings resulting in buyers bidding more compared with prices at traditional auctions.
b. Featured Auctions
Selling fees for Featured Auction lots are calculated at a flat rate of 14% plus VAT subject to a minimum fee of £5.00 plus VAT per lot.
NB there are no buyer's fees charged on Featured Auctions listings resulting in buyers bidding more compared with prices at traditional auctions.
c. Live Auctions
Selling fees for Live Auctions are negotiable depending on the size and value of a consignment.
NB there is a 12.5% (plus VAT) Buyer's Premium on Live Auctions comparing favourably with traditional auctions where buyer's charges can be as high as 25% (plus VAT).
What is meant by a 'Reserve Price'?
A reserve price is the lowest price that you will accept for your item. It is not made public, but bidders will know if their bid has not reached the reserve price.
Should I set a Reserve Price or Starting Price on my lot?
We generally recommend that lots are listed without a Reserve Price or Starting Price of £1.
If a reserve price is set, until it is met or close to being met, bidders will simply see a 'Reserve not met' message which frustrates them and leads to their losing interest in that auction. In contrast, 'no reserve' lots attract both speculative bidders and more serious bidders who are both attracted to the possibility of getting a good deal and serve to drive the price up. Bid for Wine's own statistics show that lots listed without reserve prices typically attract 50-75% more bidders and generally sell for 15-25% more than those with reserves. Furthermore, setting a reserve will incur an upfront £2.50 (plus VAT) minimum selling fee on listing the item. Whilst this is offset from your final selling fees invoice it is not refundable in the event of the item not selling.
Starting prices can also have a negative impact on the number of bidders and price achieved as a lot may look 'expensive' and bidders will therefore not place an initial bid, even if the starting price is below the maximum they would pay. In contrast, where no starting price is set, people will perceive a lot as 'a bargain' and, as with no reserve auctions, more people will be attracted to place bids resulting in a better price being achieved.
Can I include professional reviews in my listings?
Subject to copyright restrictions, the more detail you can provide in a listing the greater the chance of selling your item. Please refer to the Bid for Wine User Agreement if you need to check our policies on copyright.
Is it better to list bottles individually, in multiple bottle lots or in mixed cases?
Single bottle lots are best where a wine is of particularly high value as large lots of expensive bottles limit the potential pool of buyers. Lower value wines are generally better listed in multiple bottle lots otherwise the cost of shipping the wine would be disproportionately high compared to the selling price.
Mixed cases (e.g. assorted Burgundy 1er Crus) sell very well as they often represent a good opportunity for buyers to explore wines from a particular region. If you are listing a mixed lot, it is worth ensuring that the wines are of a similar type and value.
How and when do I get paid for my wine?
Bid for Wine does not handle payments for Marketplace listings and must be arranged between the seller and buyer. Many buyers find the peace mind offered by PayPal over bank transfers attractive . If you wish to collect payment via Paypal, it is important that you specify any charges for this in the listing.
For Featured and Live Auctions Bid for Wine will collect payment from the buyer and pay you the selling price (less our fees and commissions) generally within 15 days of the auction presuming the buyer has paid us.
Bid for Wine recommends that you do not dispatch any wine sold until payment has been received from the buyer.
How do I pay my selling fee invoices from Bid for Wine?
Bid for Wine will send you an invoice when your item sells and collect the relevant fee directly from the card details held in your account, in the case of reserve lots the £3.00 minimum selling fee is charged on listing. You can review all your past selling invoices in the 'My Invoices' tab within your account.
Why am I asked to pay the minimum selling fee upfront for items listed with reserves?
We strive to ensure that listings on the Bid for Wine Marketplace are realistically priced and of a value threshold quality. The upfront fee on reserve lots and minimum selling fee on all items discourages listings that are overpriced or comprising items of very low value.
How can I get the wine I've sold delivered?
Bid for Wine does not arrange delivery for Marketplace sellers. We recommend the use of a 3rd party insured and tracked services and understand that Royal Mail, DHL and Parcelforce are often used. Please be aware that some couriers include wine and spirits on their 'prohibited items' list and shipping will be at sender's risk.
In order to reduce the risk of breakages during transit, you may wish to consider using special packaging for wine bottles such as that sold by www.winebox.co.uk.