How to Buy Wine by the Case at Auction
Updated
Knowing how to buy wine by the case at auction lets you acquire multiple bottles of the same wine, often referred to as a "parcel lot," which can offer consistency for your cellar. In a parcel lot, the buyer of the first lot typically has the option to purchase some or all of the remaining lots at the same hammer price, as stated by Christie's in both their London and New York Conditions of Sale for Wine. This approach can simplify the acquisition of a larger quantity of a specific vintage. It also requires a clear understanding of the associated costs, including buyer's premiums, taxes, and potential shipping and storage fees. Careful consideration of these factors, alongside the wine's condition and provenance, is essential for a successful acquisition.
What is a wine case, or "parcel lot," at auction?
A parcel lot in a wine auction consists of several lots of the same wine, with identical lot size, bottle size, and description, according to Christie's London Conditions of Sale. Similarly, Christie's New York defines a parcel as a sequence of lots sharing the same estimates. Those lots hold the same type of wine, quantity, and bottle size. Zachys also describes a parcel as a sequence of lots with identical estimates, type, quantity, and bottle size.
When bidding on a parcel lot, the buyer who successfully bids on the first lot typically gains the option to purchase any or all of the subsequent lots in that parcel at the same hammer price. This is at the auctioneer's discretion, as noted by Christie's and Zachys. If the initial buyer does not exercise this option for all remaining lots, the auctioneer will then open bidding on the next unsold lot. Its buyer gains a similar option for any remaining wines in the sequence. Zachys advises you to bid on the first lot in a parcel. If that bid fails, Zachys transfers it to subsequent lots until it succeeds or the parcel ends. WineBid handles multiple items in a lot differently. If you bid on multiple bottles in a lot, your bid amount will increase across all bottles you have bid on in that lot, WineBid notes. You cannot win bottles within the same lot at different amounts. For a comprehensive guide on auction processes, explore our how to buy wine at auction guide.
What are the costs involved when buying wine by the case?
When you acquire wine by the case at auction, several costs sit on top of the hammer price. These typically include a buyer's premium, various taxes, and potential charges for storage and shipping.
Buyer's Premium Rates
The buyer's premium is a percentage added to the hammer price of each lot. Rates vary by auction house and location.
| Auction House | Location/Category | Buyer's Premium Rate |
|---|---|---|
| Bonhams | United Kingdom (Wine and Whisky) | 24% of the hammer price |
| Christie's | London (Wine, Spirits and Cigars) | 25% of the hammer price |
| Christie's | New York (Wine) | 25% of the final bid price of each lot |
| iDealwine | Auctions (as of 02 March 2023) | 25.2% VAT included (21% excl. VAT) of the hammer price |
| iDealwine | Auctions (from 27 March 2026) | 25.8% incl. tax (21.5% excl tax) of the hammer price |
| Sotheby's | Global Wines & Spirits | 24% of hammer price plus 1% Overhead Premium (total 25%) |
| WineBid | All lots purchased through auction | 17% buyer’s premium |
| Zachys | General (unless indicated) | 25% Buyer’s Premium is added to the hammer price |
Taxes
Taxes are a significant part of the total cost. Sotheby's notes that their buyer's premium rates exclude local taxes and any applicable artist resale rates. Christie's London states that VAT is payable on the premium at the applicable rate. The house adds it to the buyer's premium. For some lots, VAT is also payable on the hammer price. Post-Brexit, UK VAT and Customs rules apply. For lots shipped to Jersey, GST at a rate of 5% will be due on the hammer price, buyer's premium, freight charges, and any applicable customs duty. An Indian Equalisation Levy Tax at a rate of 2% will be due on the hammer price and buyer's premium (exclusive of any applicable VAT). It applies to lots bought by a successful bidder with a registered address in India who has bid via Christie's LIVE™.
Christie's New York states that sales or use tax may be due on the hammer price, buyer's premium, and/or any other charges. Christie's collects New York sales tax at a rate of 8.875% for any lot collected from Christie's in New York. The same applies to lots shipped to states where Christie's does not have appropriate licenses, unless a tax exemption is on file.
Bonhams adds VAT at the current rate of 20% to the buyer's premium and charges, excluding Artists Resale Right. Zachys states that all bids are deemed exclusive of any sales tax. The buyer pays that tax if required. For New York Live Auctions and New York Internet Auctions, Zachys must charge and collect New York sales tax. However, for Delaware Live Auctions and Delaware Internet Auctions, Zachys need not charge or collect sales tax. Delaware does not impose sales tax on tangible personal property sold within the state. Zachys also notes that tariffs and import duties are outside the control of the seller and may change. The buyer bears full responsibility for any additional fees.
Which US states charge sales tax on a case?
WineBid must collect sales tax on all purchases. The exceptions are wines shipped internationally, or to states where a direct shipper permit is held, such as Louisiana, Nevada, New Hampshire, Oregon, and Wyoming. WineBid works the tax out as a percentage of the entire price paid, including the hammer price and the buyer's premium for auction purchases. For New Hampshire, Christie's New York collects a fee of eight percent (8%) of the hammer price plus buyer's premium (exclusive of sales tax) for shipments. For Wyoming, Christie's New York collects a fee of twelve percent (12%) of the hammer price plus buyer's premium (exclusive of sales tax) for shipments.
iDealwine informs non-resident customers that customs and excise duties are not included in the buyer's premium. It charges those duties in accordance with legislation. When lots are put up for sale by non-VAT registered entities, tax is only due on the buyer's commission. For fixed-price purchases, standard VAT applies to the sale price. However, a VAT on gross margin regime may cover fixed-price purchases on goods for resale.
To calculate your all-in cost, including premiums and taxes, use our landed cost calculator.
Other Fees
Additional fees can include storage, removal, and transport. Christie's London charges storage costs from the 90th day following the auction date. Christie's New York states that buyers who fail to collect lots within 120 calendar days of the auction leave their property with a third party, The Wine Cellarage, at their own expense and risk. Zachys also notes that you must collect wines within 14 calendar days, or Zachys will move them to its own storage at your expense. iDealwine charges storage fees of €0.15 per bottle per day. Those fees take effect on the 31st day following the order confirmation if purchases have not been paid for within 15 days. WineBid provides a minimum of two months of free storage at Global Storage Network (GSN) for any wines purchased. Collector tier members receive 4 months and Pro tier members receive 6 months.
What should you know about condition and provenance when buying cases?
When purchasing wine by the case, especially older vintages, understanding condition and provenance is critical. Christie's London, Christie's New York, Zachys, and WineBid all state that lots are sold "as is," meaning without any representation or warranty as to condition.
How do old corks and ullage affect a case?
For old wines, buyers must make appropriate allowances for natural variations of ullages, conditions of cases, labels, corks, and the wine itself, according to Christie's London and New York. Christie's New York specifically notes that corks over twenty years old begin to lose their elasticity. Levels can change between cataloguing and sale, carrying a risk of cork failure. Zachys echoes this, stating that old corks (over 20 years) have been known to fail during or after shipment. iDealwine also cannot guarantee the condition of corks. It states that it cannot guarantee tasting characteristics for wines purchased in auctions.
Auction houses provide descriptions and condition reports as guidance. Christie's London specifies that any reference to condition in a catalogue entry or report will not amount to a full description. Images may not show a lot clearly. WineBid, however, states that each bottle in auction undergoes a rigorous multi-point inspection by their WSET Level 2 or 3 certified team. That team uses a proprietary system designed to verify authenticity and protect against counterfeit wines. This system includes validation checks specific to producer, vintage, and region.
iDealwine may remove bottles considered unsuitable for sale or consumption due to their condition. Those include bottles with a level way below low shoulder, wine seepage past the cork, depigmentation, or labels that are too damaged. They also systematically test cork resistance for vintages prior to the year 2000, removing any bottle with a depreciated or falling cork. For more detailed information on fill levels, consult our wine ullage levels explained guide.
What are the shipping and storage considerations for cases of wine?
Managing the logistics of wine cases after purchase involves understanding storage options, shipping restrictions, and associated costs.
Storage Facilities and Free Periods
Auction houses often partner with or operate their own storage facilities. Christie's London stores wines at Crozier West Drayton, while Christie's New York and Zachys hold wines at The Wine Cellarage. WineBid places all purchased wines into storage at Global Storage Network (GSN). iDealwine stores wines at its warehouse in Colombes, France.
Free storage periods vary. WineBid provides a minimum of two months of free storage at GSN for all customers. Customers with a Collector membership receive four months of free storage, and Pro tier members receive six months. For consignors, iDealwine offers free storage for the first six months following deposit. After this period, if wines remain unsold, iDealwine charges storage fees of 1 Euro per month per bottle when the consignor does not respond to collection or re-offer requests.
Shipping Restrictions and Age Requirements
Shipping wine, especially across state or international borders, is subject to various regulations. Christie's New York states that buyers of alcoholic beverages must be at least 21 years of age, and an adult must sign for delivery. Zachys confirms a legal age of 21+ in the U.S. and 18+ in Hong Kong. iDealwine notes that it is illegal to sell alcohol to minors in France, and in Hong Kong, intoxicating liquor must not be sold or supplied to a minor in the course of business.
Christie's New York can only ship wines to states where it has appropriate licenses, currently New York, Florida, New Hampshire, and Wyoming. For New Hampshire, Christie's may not ship more than twelve 9-liter cases or equivalent of wine to any one consumer in a calendar year. For Wyoming, the limit is 108 liters to any one household within any twelve-month period. Christie's New York does not presently ship internationally to any location other than Hong Kong and London.
Who is responsible for export and import rules?
Buyers are responsible for determining and satisfying the requirements of any applicable laws or regulations relating to the export or import of any lot they purchase, as stated by Christie's London and New York, Zachys, and iDealwine. Zachys warns that various jurisdictions may prohibit or limit the quantity of alcoholic beverages you can buy and transport. The inability to export or import property is not a basis for cancellation or rescission of the sale, according to Christie's New York.
Packaging
For shipping, WineBid states that wines are always packed in molded Styrofoam shippers for insured, alcohol-compliant transit. Package size and number depend on format sizes, quantity, original wooden cases (OWCs), and more. For more information on securing your collection, review our how to store wine guide.
How do auction houses handle payment and title transfer for cases?
Understanding the payment schedule and when ownership of your wine cases officially transfers is crucial for managing your acquisitions.
Payment Deadlines and Methods
Payment for purchases is typically due shortly after the auction. Christie's New York expects payment immediately after the auction. The full amount falls due no later than 4:30 p.m. on the seventh calendar day following the sale. Zachys states that payment for all invoices is due immediately upon receipt. Buyers must settle outstanding balances within 14 calendar days for live sales and 7 calendar days for internet sales. iDealwine also requires payment once it confirms the order.
Accepted payment methods generally include wire transfers and credit cards. Christie's London accepts wire transfers, credit cards (with conditions), banker's drafts, and cheques from UK banks, but not cash in England. Christie's New York accepts wire transfers, Visa, MasterCard, American Express, and China UnionPay credit cards (with an administration fee), bank checks, and checks drawn on a US bank. It limits cash, money orders, or traveler's checks to an aggregate limit of $500 per buyer per year. Zachys accepts Visa, MasterCard, American Express, Discover, and UnionPay credit cards (with a 2% processing fee), and bank wire transfers. iDealwine accepts card payments (French and non-French) and bank transfers. Cash payments there are only possible for orders of €1,000 or less, and iDealwine takes no cheques.
Late Payment Penalties
Failure to pay by the due date can result in penalties. Christie's London may charge interest from the due date at a rate of 5% a year above the UK Lloyds Bank base rate on the unpaid amount. iDealwine states that any outstanding payment after 7 days will accrue interest. The rate equals one and a half times the legal interest rate referenced in France. iDealwine will also charge storage fees of €0.15 per bottle per day from the 31st day following order confirmation if purchases are unpaid.
Transfer of Title and Risk
The transfer of ownership (title) and responsibility (risk) for the wine varies. Christie's London states that you will not own the lot, and ownership will not pass to you, until the house has full and clear payment of the purchase price. The risk and responsibility for the lot transfer to you at the earlier of two moments: when you collect the lot, or at the end of the 30th day following the date of the auction. That holds unless you agree otherwise in writing. Christie's New York also specifies that the buyer will not acquire title until Christie's has all amounts due in good cleared funds. Risk and responsibility for the lot pass to the buyer at the expiration of seven calendar days from the date of the sale, or on collection by the buyer if earlier. Zachys states that title passes to the buyer in the state or region where the auction occurs. That happens only once Zachys has payment in full in good and cleared funds. iDealwine confirms that the transfer of ownership of a lot to the buyer is subject to the settlement of the price and costs. Risks pass at the moment of collection or delivery to the buyer. Understanding these financial and legal aspects is key to fine wine investment.
To compare per-bottle versus per-case pricing for your next acquisition, explore our market index.