In an extraordinary auction this week Unique Wine Auctions, the one and only ‘reverse’ wine auctioneer, is to sell a bottle of Chateau Latour 1994 to the lowest unique bidder. Andrew Cullimore, Unique Wine Auctions director, commented ‘Every time we have offered Chateau Latour in the past, bidding has been very competitive; I expect this auction to be very popular with our members’.
Here is a list of wines and the prices they reached that have been sold recently at Unique Wine Auctions
- 1 bottle Chateau Lafite 1985, 54p
- 1 bottle Chateau Petrus 1997, 5p
- 3 bottle OWC DRC Echezeaux 2004, 26p
- 1 bottle Opus One 2005, 6p
- 1 bottle Chateau Duhart Milon 2005, 9p
The auction process differs from conventional auctions in that the auction is blind and bidders pay per bid that they make, with the lowest unduplicated bid being declared the winner at the end of the auction, the winner walking away with an unbelievable bargain.
Even though the auction is blind the concept is not based on luck, with the most successful bidders formulating strategies to beat their competitors. ´Most of those who win are willing to risk a certain amount of money in the pursuit of the bottle of wine they are after, however in every instance so far, the winner´s outlay on bidding has been far less than the actual value of the item,´ Mr. Cullimore pointed out.
The idea of Unique Wine Auctions was devised as a way to offer wine lovers a chance to own bottles of some of the world’s most famous wines without having to pay prohibitively high prices. Andrew explains the reason for success, ‘I feel that so many people that would love to own a bottle of two from a 1st growth Chateau, for example, can’t because of the price increases in recent years. Even though these wines have always been expensive it is the last 10 years or so of rapid price growth that have taken away the chance for many to own or drink these wines, I hope that Unique Wine Auctions gives the passionate consumer a chance to own these wines without the normally high expenditure.’
The auction for the bottle of Chateau Latour 1994 will close and declare a winner on Friday 28th October at 9pm. Bids cost £3 each.
Click here to visit Unique Wine Auctions.