28/02/2025 General News
The supermarkets have done a great job in democratising wine: educating us, introducing us to new grape varieties, new regions and countries, and generally broadening our wine knowledge, writes Angela Marshall.
Meanwhile, independent wine merchants, who tend to know their customers better – and whose customers tend to be more knowledgeable and more open to new ideas – do a good job in helping wine lovers experiment, cajoling us and generally leading us into new avenues of vinous pleasure.
But if you are looking for something completely different, a rare bottle which can’t be found on any retailer’s shelves, or simply a fully mature vintage from a leading producer, one place to find it is in the wine auction room.
I’m not talking about the rarefied London auction houses where collectors’ bottles change hands for six figure sums (and sadly, whose corks will probably never be pulled), but those select regional auction houses which have specialist wine and spirits sales, and where there are still bargains and oddities to be found.
The real benefit of buying wine this way is rarity value: you will find bottles in the auction room which are simply too unique (in every sense) to appear on any retailer’s list.
It is at auction, too, that wine’s true value is set. Those of us who work in the wine auction world have access to information about current auction prices being achieved, and just as importantly, the prices being paid within the trade, and so we are able to offer realistic valuations to sellers, and good pre-sale guide prices for buyers. Although, of course, in the end it is the bidders themselves who set the actual market price.
There are undoubtedly still bargains to be had at auction. I know of one wine lover who bought a case of Port – at Keys - from his birth year four years before he turned 50, and stashed it in his cellar until the big day. By which time its value had more or less quadrupled due to the demand for 50 year-old wines to celebrate landmark birthdays. He tells me that knowing that just made every mouthful even more delicious.
There are some things to bear in mind if you are buying wine at auction. The most important is that you can’t take it back, so it is definitely a case of caveat emptor – buyer beware.
It is important to inspect any lot you are planning on bidding on, looking for signs the cork has dried out, such as leakage or a low level in the bottle. And although the state of the label doesn’t necessarily reflect the condition of the wine in the bottle, generally a well-preserved label does suggest the wine has at least been stored in an ideal place.
It’s easier to do this if you are an ‘in-room’ bidder, in which case my advice is to arrive early and take the time to look at any bottles you think you might buy. If you are bidding online, take a close look at the bottle photos, and contact the auction house with further questions if you have any doubts.
Another tip is to do your research. Although it doesn’t always work for the rarest wines, there are plenty of online resources which can help you assess how much you should be paying for any given wine.
But the best advice is to dive in and have a go. The auction room can be an exciting place, you may end up with a real bargain, and as long as you don’t get carried away, the worst thing that can happen is you come away thirsty.
Keys’ next Wine and Spirits Sale takes place on Friday 21st March. Bottles can still be consigned for the sale. If you have wine you would like to be assessed and valued, contact Angela at angela.marshall@keysauctions.co.uk.