Selling Your Wine Collection
As a Canadian wine collector we can assist you with three options to sell your private collection outside of Canada;
- (New option) Sell your wine collection with Iron Gate Wine’s US sister company’s online wine store, IronGate.Wine
- Sell your wine privately to buyers in the US, Asia and around the world
- Consign your collection to one of the wine auction houses in the USA
Here is a break down of each option.
When consigning and selling your wine collection with IronGate.Wine, you will receive the average hammer price (per Wine Market Journal) plus 10%. The benefits are a fixed sale price, contractually agreed in advance, while maximizing your return on your initial wine investment; wines highly sought after by US and international buyers.
If selling your wine collection privately, you will receive approximately the average hammer price (per Wine Market Journal) minus 5% commissions. The benefit being a fixed sale price, contractually agreed in advance. All funds are held in escrow until the transaction closes in a foreign country.
If consigning your wine collection to a wine auction house, you will receive the hammer price minus an average 12% commission plus shipping costs. The risk and benefit are both based on what the hammer ends up being
Here is the backstory.
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 8 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 only about 3-4% to go out of Canada into the US.
In addition, the US dollar is currently very high against the Canadian dollar so payment in US funds is over a 30% premium as of this writing.
Iron Gate Wines LLC US has launched IronGate.Wine, a new retail concept to help you as a Canadian maximize your investment and realize a minimum 20% higher return on your investment grade wines. To read more about the launch of IronGate.Wine, please click HERE.
Should a private sale be preferred, Iron Gate’s network includes a large number of private buyers in the USA and Hong Kong (typically online wine retailers) who will purchase collections for cash. To read more about our Private Buyers, please click HERE.
From our auction research we chose Hart Davis Hart, an auction house in Chicago, and Zachys, an auction house in New York. They are the fastest growing auction companies in the world, have a focus on wine only and sell to a huge base of customers all over the world. If you would like to know more, please read HERE.
All payment is in US funds and the consignment contract and transactions occur with private buyers directly, in a jurisdiction outside of Canada, and are completely legal. Whichever option is best for you, Iron Gate 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.
Leveraging Iron Gate Wine’s experience, FDA approved facility and strong logistic partners; US shipping can be a simple, seamless process for you.
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.