Probably you have not been given it a lot of thought, wine auctions are now big business, both offline as you presumably might have known also online and they are becoming more and more popular.
The participant of the auctions is private companies, looking to get rid of their end of wine ranges, wine estates end of production, charities and of course enthusiastic public looking for a bargain! Auctioneers are forecasting a continued but stifled market for wine auctions this year. Online Wine auctions are an excellent way to find those hard-to-find wine pick.
Due to the publicity given to the most expensive and oldest bottles of wine sold at auctions, most consumers view wine auctions as an event for the connoisseurs and the very rich, well let me tell you that's further from the truth!
Some of the most publicized wine auctions are for charities, where you as an individual can make a gift to the charity and receive an exquisite bottle of wine in return.
Wine auctions that are held live are exactly as you have seen them in the movies, lots of fun! Apart from one-off high profile sales Like that of Andrew Lloyd Webber's spectacular sale, most wine auctions are a cozy affair; 70% of winning bids usually come from the trade, so there is 30% up for grabs at bargain prices for people like you and me.