Selling Your Wine Collection
Collectors in Canada have only two auction houses available for them to sell on this side of the border; Waddington’s in Ontario (recently having taken over the LCBO Vintages auction) and IEGOR in Montreal. Both are relatively small by world standards and you need international reach to garner the maximum return.
We have been thoroughly analyzing the Canadian auction market since 2007 (in fact, we have the high, low and sale figures for every lot for the last 6 years) and continually see lower than optimal returns for clients selling within Canada. If you would like to see our reports, please click HERE.
We subsequently began to investigate all the major auction providers in the US and gathered the logistical details for consignment. Few people realize that while it can cost upwards of 106% of a wine’s value to bring it into Canada, it is a fraction of 1% to go out of Canada into the US. Once you know all the paperwork and labeling requirements, US shipping is a breeze. In addition, the US dollar is currently very high against the Canadian dollar so payment in US funds is a 30% premium as of this writing.
From our auction research we chose Hart Davis Hart out of Chicago and Zachys out of New York for numerous reasons. They are the fastest growing auction companies in the world, have a focus on wine only, sell to a huge base of customers all over the world, pay fast and have a sell-through rate of effectively 100% with some record breaking returns. With numerous auctions a year our clients have been realizing fantastic returns for their collection when selling with HDH or Zachys – compared to very little (or nil) benefit by selling in Canada. If you would like to know more, please read HERE.
Should a straight sale be a preferred alternative, we have relationships with Private Buyers (usually online wine retailers) outside of Canada, who are actively looking for Canadian collections. Again, payment is in US funds and the transaction occurs completely legally outside of Ontario. To read more about our Private Buyers, please click HERE.
Together, Iron Gate and the chosen auction house/private buyer will manage all of the logistics to get your wine safely and inexpensively shipped to the US, where they will be offered to thousands of potential buyers from around the world, whether through the auction house or retail presence.
For buying services, Iron Gate assists our clients with private buying with John Szabo and representation at numerous private and charity auctions.
Feel free to contact us with your inquiries if you would like to consider selling your fine wines to more of the world.