The Unique Wine Auctions 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.
Andrew Cullimore, Unique Wine Auctions founder has been impressed by the response to his auctions so far, ‘When we first started out I really did not know what to expect as the idea had never been even attempted before, however from a predictably slow beginning we now hold regular auctions each week and have over 400 members with more joining daily’.
Commenting on the high prices achieved at conventional auctions and the controversial release prices in the 2010 Bordeaux en primeur campaign, he said ‘I hope that our style of auction allows those who have been priced completely out of the fine wine market in recent years a chance of owning some of the world’s greatest wines for a fraction of the price. I also believe that it gives those that have been buying wine for investment a chance to try some of their purchases without having to think so much about the financial implications’
As for plans for the future, ‘We hope to have a brand new site up and running by the end of this year that will have improved functionality for our members, until then we will continue our plan to increase the quantity of auctions we hold a week. Certainly we will see many more bottles of 1st growth claret and Grand Cru Burgundy being sold for ridiculously low prices in the coming months!’
Click here to visit Unique Wine Auctions.