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Advice on how to sell a bottle of Penfolds Bin 707


#1

Hi everyone,

A friend of mine was given a bottle of 1990 Penfolds Cabernet Sauvignon Bin 707, as a present. They are not a huge red wine drinker and haven’t decided whether to keep it. They were wondering how you’d go about selling it if that was what they wanted to do. It would be great to hear any tips from the community!

Here’s the cellar tracker page: https://www.cellartracker.com/wine.asp?iWine=12007&searchId=DF5C8B22%23selected%3DW12007_25_Kbf6a5431c1d2c7016c245a8dba643624


#2

They could try selling through an auction site like bidforwine.co.uk (or any other such site for that matter, this is the only one I use, mainly for buying though)… It is relatively straight forward.


#3

Single bottles auctions are usually not the stuff of the established auction houses. Also, if the storage record / provenance was broke, they will not touch it either. Therefore, you friend is left with with these on-line “retail” auction platforms. Or, if they have access, the POSH function in the Bloomberg Terminal.


#4

local auction house that has a specialist wine sale - these are going in popularity and are normally quarterly (thanks to our licensing laws!)

good luck


#5

how do you find the site ? good / bad experiences

I’ve started the annual cellar audit and there are a few bits and bobs I may sell


#6

I should have said exclusively for buying, sorry. My experience buying has been mostly positive. Only one case when I received an empty box, but that was a courier issue. I will sell the odd bottle this year, will see how that goes.


#7

no problem - I might have a look then - keep us upto date on how the selling goes

thanks !


#8

Do you have an independent wine shop near you? They might sell it either in the shop or to a private client of theirs, either buying it from your friend or for a %

As mentioned above they’d (hopefully) want proof of provenance.


#9

Another wine auction site is https://www.cellartrade.co.uk/

The charges are less, I think.

Alternatively, wine-pages.co.uk, have a wine for sale page, https://wine-pages.com/community/forums/vinxchange.9/


#10

Ah thanks I’d not heard of that. Now I fear I’m going to drop into a hole there myself, my new hobby could well be buying bottles of wine from the 70s with no provenance info, just for the thrill! :joy:


#11

Thank you for introducing me to POSH! I’ve been messaging bloomberg enabled friends, sounds like it could be a goer.


#12

I’ve used bid for wine for 9 years under its various owners. More buying than selling but a fair amount of each. In the beginning a peer to peer site,. It is now part of Forum auctions who use it to sell collections, often ex TWS, in addition to the peer to peer a activity.
Commission charges are about 10% so possibly the cheapest way to sell.
I have had only one or 2 negative experiences.
Buyers like to know the provenance, a lack of which will be reflected in the price. I’d normally hope to get about 80% of the best retail price, but like any auction it depends on buyers desire.

Prices for Bin 707 have gone thru the roof of late. Best recent price was£160 for a 1998. But I see some have not sold. 1990 looks a good year and rare. So fingers crossed.


#13

thanks for the info - will have a proper look and may even have a dabble…anyone got some paying work??? :rofl: