We all have a good reason to sell bottles of wine: you may get a bottle of Bordeaux as a gift but prefer to drink Burgundy or you might want to refresh your cellar quickly as your tastes have evoled over time. For those who wish to sell wine quickly, and receive payment quickly, our outright cellar repurchase service might be a better option than an auction.
So, what is outright repurchase? This is one of the cards that Raphaël de Fonscolombe – a member of the iDealwine sales department has up his sleeve when speaking to potential sellers. Of the various selling options we offer at iDealwine, sometimes an outright repurchase is preferable, as this is the fastest way to get your bottles on the market and settle a payment. There are a few different criteria to match in order for this to be a viable option, including a minimum estimate for your cellar. Read on for more details!
A fast option
Outright repurchase is the express option for selling your wine as it involves a foxed payment on our side. This means that, instead of waiting for an auction and its results, we can buy your wines outright and you’ll receive 75% of the payment as we receive the bottles, and the rest is settled within 15 days. In order to pick this option, each of your bottles must be worth over €40, coming to at least €1,000 in total. This is the general rule, although certain bottles are especially coveted by our clients, meaning that we may still be interested in an outright repurchase in certain cases. Don’t hesitate to get in touch if you’re unsure!
When it comes to our price estimates for your bottles, these are based on real market prices. Your wine will be bought at the price given at the point of estimation, with 15.6% taken off as a seller’s commission. Our repurchasing price is thus crystal clear and trustworthy.
Every seller with have their own idea of the risk they are willing to take in selling their bottles. So let’s compare outright repurchase with our other option, which is to sell at auction. Unlike a collector who puts his bottles up for auction, someone who sells their cellar as an outright purchase misses out on the chance to receive a sum superior to the estimated price (in the case of someone placing a high bid). This is because iDealwine buys the bottles before putting them on the site. However, since this payment is made in full as soon as the bottles have been assessed, there is equally no risk of the wine going unsold. It’s all about weighing up the pros and cons.
As you can tell, this option is more for those looking for a simple and speedy solution.
Something that we’re often asked regarding outright repurchase is: what does iDealwine do with the bottles bought from private sellers? Well, these bottles tend to be sold at a fixed price, rather than at auction, and are often put in our mature vintage selection. These sales are popular with clients keen to taste already-aged wine without having to wait.
So, why sell your bottles with iDealwine? Since 2000, iDealwine has placed itself in pole position as market leader for online wine selling. We have an expert team of specialists and an authentic passion for wine. And you can rest assured that we will take the very best care of your wine whilst it is with us. Don’t forget that we’re France’s top wine auctioneer…