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Auctions......Do we Dont we?
"andrew caillard"
post Jul 10 2001, 12:44 PM
Post #1





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Further to the general debate on auctions, I would like to give you a brief overview of the auctioneers position. Firstly our role is ideally to provide a fair price for the seller and for the buyer. Fair market price is determined by the strength or weakness of the market as measured in volume and value of demand. As an auctioneer I cannot ask people to stop bidding at values higher than what I think they should be. This particularly relates to speculative stocks - often Parkerised wines etc. This applies only to a small percentage of wines sold at auction. The wine is sourced mainly from privates sources - most who wish to at least make a small return. Our commission rates are the basis of our operational income. Unlike most businesses our margins are totally transparent. We compete on expertise and getting results. Indeed we have invested heavily into the internet - our site at www.langtons.com.au is launched in September. At Langton's we are heavily committed to providing our clientele with an effective,informative and reliable service. Like so many of the people on this forum we enjoy great wines. We are not motivated by quick bucks - rather by the belief that Australia is capable of making some of the great wines of the world. I am thankful to see positive remarks about Langton's. We are always willing to help and discuss any feature of the auction process with potential clients. Just call us!



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"Sandy"
post Jul 9 2001, 10:13 AM
Post #2





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Not sure whether the list is open. Just give thema buzz, their contact details are on this site.

Cheers, Sandy



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"Chuck"
post Jul 7 2001, 10:58 AM
Post #3





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Have bought many recent release wines at auctions for low prices. Generally happy with quality although on 2 occasions had to pour both dozen lots of whites down the sink. Unfortunately recent trend is for auction to be a dumping ground for badly stored wines.



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"Coach"
post Jul 7 2001, 06:43 AM
Post #4





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The secondary market is and has artificially driven up the market price on all limited and scarce wines. As Rory pointed out, made great profit. Wine is to be enoyed and not traded like stock (purist attitude)There are many stores in Sydney that offer these wines and at better prices than auction and very sound advise. Langtons commands huge margins on top of the sell price. Bothe seller and buyer fund this.
Too many auctions and too many very ordinary wines funding this market.



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"Carrie"
post Jul 6 2001, 10:02 PM
Post #5





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thank you for answering, Sandy. Turkey Flat - I have never tasted and don't know where to get it from. Do you think I can get on their mailing list still?



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"Sandy"
post Jul 6 2001, 08:31 AM
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Carrie,

Well I'm a huge fan of Turkey Flat in the Barossa. I have been buying it from cellar door since 1991. Fantastic wines and the new 1999 Butchers Block GSM is a cracker.
I'm also a fan of the top Hunter wines. At the moment I'm working my way through a case of McWilliams Mt Pleasant OP&OH 1996 Shiraz, very rich, inky wine. Lot of smooth berry fruit.
Also a huge fan of Leasingham, ever since i tried the 1994 Classic Clare Jimmy Watson winner i have never looked back.

Especially the younger brother, the Bin 61.

Henschke is also high in the list......

Sandy



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"Carrie"
post Jul 5 2001, 09:57 PM
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Sorry Sandy, I should tell you mine:
Rockfords
Kellermeister (Trevor Jones)
Ivanhoe in the Hunter
Jeaneret and Skillogalee in the Clare
Henschke
This is to only name a few of course.
Regards Carrie
Peter Lehman Stonewall
Noons - if you can get them
Maxwells (McLaren Vale)




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"Carrie"
post Jul 5 2001, 09:53 PM
Post #8





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So what is your favourite winery, Sandy



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"Sandy"
post Jul 5 2001, 08:14 AM
Post #9





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Especially considering that you could have bought it cellar door for $60, for the 1995 vintage....
Now whats that?......

A NICE PROFIT....



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"Carrie"
post Jul 4 2001, 07:10 PM
Post #10





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I can't believe the price of this. For the price one bottle of this wine on auction you could by a beautiful wine refridgerated storage cabinet. For three bottles of this wine you could install an underground cellar. For a dozen, you could fly around the world and taste wines in many countries.



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"Sandy"
post Jul 4 2001, 10:50 AM
Post #11





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Saw in the recent Langtons catalogue for next weeks auction, some bottles of three rivers shriaz. Andrew C. estimates the sale price between $1000 and $1300 per bottle.....
Now thats a nice profit!

Sandy



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"DCB"
post Jul 1 2001, 03:45 PM
Post #12





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I have rarely sold at auction, but buy frequently, to supplement wines I buy direct from wineries and wine stores. Auction can be a great source of harder to get or older wines, and as a supplement to buying direct help create a good spread of wines (and ages) in your cellar.



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"Andy"
post Jun 29 2001, 11:31 AM
Post #13





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It's a good question you pose. I am in a slightly different situation to the others in that I have only become hooked on wine in the last couple of years (I'm in my early 20's). I have started to buy from the secondary market and have found it very useful to buy wines 5-15 years old. Without doing this I can't know which wines I want to buy from current vintages to put down for the future. I agree the prices are not much different to current releases however it is still a case of 'buyer beware'.

Cheers

Andy



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"Mac"
post Jun 28 2001, 07:12 PM
Post #14





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I have not bought any wine at auction. I have sold wine through Langton's. I am a subscriber to Langton's Catalogues. I also regularly look at other auction house results. I am not a big seller or buyer in this market but I watch the prices with keen interest.
Auction is probably the best ay to buy current ot 2-3 year old releases at very resonable prices.



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"Rory Shannon"
post Jun 28 2001, 11:49 AM
Post #15





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The use of the secondary market is a great way to source difficult to find wines and yes, cellared wines ready to drink. It is also a great way of funding your own cellar if you buy right (and are able to get it to the U.S. for auction). I buy and sell on average once a fortnight and I have made some staggering profits, but also bought some special wines that are hard to find (Penfolds Bin90A & Block 42). Not wanting to get into the obvious down sides of the secondary market, I have enjoyed browsing the markets immensly.
Regards,
Rory



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"Mark D"
post Jun 28 2001, 10:50 AM
Post #16





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In my case, I have mainly bought imported wines (Bordeaux and Burgundy mainly) at auction. I'm a subscriber to Langtons and went to their first auction in Sydney.
During the recession, I bought French wines literally by the pallet load (like a few thousand bottles) at remarkable prices. Some were stock from importers who went broke.
Still buy now but in small quantities and when I can get a bargain.
Have bought some stock at Internet auctioneers but very limited.
My experiences with Langtons are pretty good (with a few exceptions like lost stock a few times) since the late 80's



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"Andrew S"
post Jun 28 2001, 10:00 AM
Post #17





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I havent used the secondary wine market yet, sourcing my wine elsewhere in the trade, but I agree with John in that it seems to be best for a purchaser to pick up recent vintages which may have a few years age, but at virtually no premium. I would assume that these wines come from collectors or restaurants who have overstocked, or are experiencing tight cash flow and thus let go some of their wine. As a collector myself, I would not release any of my wines into that market. It seems better to age the very good wines for at least 10 years, try a bottle, assess the market and then make a decision as to when and if to sell. I really dont think selling within that time frame will ensure a good return for a collector/ investor.



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"John Cuff"
post Jun 27 2001, 12:44 PM
Post #18





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Wanted to pose a question to the forum.

What is the level of experience of our users in the secondary wine market?

Have you purchased from auction?
How often?
Do you sell some of those extra bottles in order to re-invest in your cellar?

I find that the current auction market is best to buy drinking wines. Those couple of year old reds and whites that would have cost you the same on release.

What are your thoughts ????

John Cuff
Associate Producer
www.winepros.com.au




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