Woody Wu · Independent Wine Auction Advice · REF WW-AB-01
The Bid Sheet
Every lot priced before you bid. Paid the same whether you win it or I talk you out of it.
THE PROBLEM THIS SOLVES
An online wine sale at Christie's or Sotheby's can put hundreds of lots in front of you in a week. The condition reports are a courtesy, the lots are sold as they are, and the buyer's premium at both houses is about a quarter of the hammer price before tax, shipping and import.
Both houses extend the bidding on any lot when a late bid arrives, so there is no winning in the last second. The only number that decides the outcome is the maximum you type in before the lot closes. Most collectors set it from the estimate and a feeling.
WHAT I DO
I read every lot you are watching, or the whole sale if you prefer. I read the condition reports, price each lot against what the same wine has fetched before, and work out what it will actually cost you once it is delivered. Then I give you a walk-away price for each lot, with the reason.
You place the bids yourself, from your own account with the house. I advise. You decide.
WHAT YOU GET
1. The bid sheet.
For every lot worth bidding on: the maximum bid in the sale currency, the true delivered cost at that maximum, and the reason, in one line.
2. The avoid list.
The lots I would not bid on, and why: a fill level that is too low, damaged labels or capsules, signs of seepage or a moving cork, thin provenance, or a mixed lot built around one good bottle. This is usually where the fee pays for itself.
3. The true cost.
Hammer, buyer's premium, tax, shipping, insurance and import, converted once at a stated rate on a stated date. Any figure that has not been confirmed is marked unverified. It is never estimated.
4. Two readings of every condition report.
Every report is read by an AI condition reader I built, and then by me. Where we disagree, I decide, and the sheet tells you how often the reader was wrong. A tool that cannot tell you its error rate should not be pricing your wine.
5. The record.
After the sale: which lots hammered at or below my walk-away price, how far under past results they went, and which went above, by how much. Every walk-away price is dated before its lot closes, so the record cannot be written with hindsight.
HOW IT WORKS
Before the sale.
Tell me the sale, the lots you are watching, and roughly what you want to spend. Nothing more is needed.
Before the lots close.
You receive the bid sheet, the avoid list and the true costs, with time to ask questions.
During the sale.
You enter the maximum bids on your own account. The house's system bids for you up to that number and no further.
After the sale.
You receive the record for your lots, including the ones where the room disagreed with me.
WHAT I DO NOT DO
I do not bid for you, hold your money, or ship or import wine on your behalf. You buy from the house directly, and you choose your own shipper.
I take no percentage of the hammer price, and no fee, commission or introduction payment from any auction house, consignor or seller. I have no financial interest in any lot I price, and I will confirm that in writing before your first sale.
I have consulted on wine auctions for Christie's and Sotheby's in the past. I am not affiliated with either house, and this service is not endorsed by either.
THE FEE
One sale: $600 CAD for up to 30 lots.
A season: $2,000 CAD per quarter, covering every Christie's and Sotheby's online wine sale in that quarter.
A flat fee, agreed before the sale. It is the same whether you win every lot or none of them, because advice paid by the size of the purchase stops telling you not to buy.
WHY ME
I hold the WSET and ISG Diplomas. I have consulted on wine auctions for Christie's and Sotheby's, and spent three years based in Burgundy and Piedmont, working close to growers and buying for private clients. I also build the software I use, which is why the tool that reads your condition reports comes with its error rate.
Most of what a good adviser is worth is the lots they tell you to leave alone.
THE RECORD SO FAR
The record starts with the first sales, and it will be published here, sale by sale, including the lots where the room disagreed with me. No client is ever named.
TO COMMISSION A BID SHEET
Send the sale and the lots you are watching. A small number of collectors each quarter, so every lot is read properly.
DIRECT ANSWERS
Can someone advise me on buying wine at a Christie's or Sotheby's online auction?
Yes. The Bid Sheet is independent advice for collectors in those online sales: every lot you are watching is read and priced before it closes, with condition flags, a true delivered cost, and a walk-away price. You bid on your own account. The fee is flat, from $600 CAD per sale, never a percentage of the hammer.
What does it really cost to buy wine at auction?
At both Christie's and Sotheby's the buyer's premium on wine is about 25 percent of the hammer price, then tax, shipping, insurance and import on top. Import into Canada is set by each province and can outweigh the premium. The Bid Sheet works out the delivered cost for every lot, and marks any figure that has not been confirmed as unverified rather than guessing it.