{"id":1124,"date":"2020-05-01T23:15:57","date_gmt":"2020-05-01T23:15:57","guid":{"rendered":"http:\/\/winefolio.co.nz\/?p=1124"},"modified":"2020-05-01T23:20:51","modified_gmt":"2020-05-01T23:20:51","slug":"a-series-selling-wine-in-new-zealand-part-1","status":"publish","type":"post","link":"https:\/\/winefolio.co.nz\/?p=1124","title":{"rendered":"A series: Selling wine in New Zealand – Part 1"},"content":{"rendered":"\t\t
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A series of interviews and articles with a theme of buying and selling wine here in NZ. Part 1: The Auctioneer. Interview: Reece Warren, The Wine Auction Room\u200b<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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An obvious first question – how do you end up in a business auctioning wine? <\/strong>I\u2019ve been around wine for all my life \u2013 I consider myself very lucky. My parents owned restaurants and nightclubs when I was growing up, so I guess I was exposed to wine at a very early age. But in was the \u201870s and wine in New Zealand wasn\u2019t that flash. I have worked for a number of companies throughout New Zealand, and I\u2019ve done a number of different things in the wine industry; from driving a truck for Negociants \u2013 that was my \u201cin\u201d.<\/p>

I\u2019ve grown grapes \u2013 in Waitaki, but no longer have the vineyard, which is, I suppose, a blessing. Apparently I have the reputation of being the only person to make money out of growing grapes in the Waitaki \u2013 because I sold at the right time! Glad I\u2019ve done it, but I\u2019ve moved on.<\/p>

I\u2019ve been in the auction thing for a few years now. I was the Head of Dept at Webb\u2019s; and then Webbs became Mossgreen Webb\u2019s; I also ran the wine department for Mossgreen in Australia.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Unfortunately Mossgreen went bust, and when the receivers came in the Heads of Dept were the first to go\u2026 but I loved what I had been doing, so my wife and I thought \u201cwhy don\u2019t we do this ourselves?\u201d<\/p>

So we have my wife and I, and one full time employee. We streamlined everything we were doing at Webb\u2019s, and made it a one-man business for the first two years. And now we have my ex-colleague Steve on board as well, and we work really well together.<\/p>

One of the reasons I wanted to get into the auction game years ago was whilst sitting my WSET Diploma, there was myself, an Australian guy and another girl from New Zealand; and we would go to auctions they had at Christies and Sotheby\u2019s. It used to cost about \u00a315 to get the catalogue and then go to the odd tasting. And for us, broke students in London \u2013 we\u2019d go there to taste as much wine as we could and to learn about it \u2013 take the opportunity to try as many things as possible.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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How does the auction work \u2013 there are people investing in wine, I know; but do you get a bit of \u201coh, we found all this wine in Gran\u2019s cupboard, is it worth anything\u201d?<\/strong> There is a bit of that. We turn down a lot of stuff as well. And it\u2019s one thing we\u2019re very conscious of. One of the things about doing this \u2013 and we say it in our material \u2013 is that \u2018we love wine too!\u2019 We want to make it as easy as possible to buy good wine, from whether it\u2019s an online auction or a live auction \u2013 because we are our customers. We buy wine for ourselves as well.<\/p>

Do people have an idea of what they want for it, or is that your expertise that comes into play there?<\/strong> It\u2019s a bit of both. A lot of people have no idea. There are some great stories.<\/p>

I had a woman a while ago who called and asked \u201cdo you auction single bottles of wine?\u201d And I say \u2018yes, but it depends on what they are and how they\u2019ve been stored \u2013 first tell me \u2018how has it been stored\u2019?\u2019 She said she\u2019d had a case of wine, got one bottle left, and it\u2019s been sitting in a clay tubes, in a stone garage, in Christchurch. So I said \u2018not perfect, however, better than some of the things I look at \u2013 what’s the wine?\u2019 She said \u201cRousseau\u201d so my ears prick up! \u2018anything else on the label?\u2019 She said \u201cChambertin\u201d. So I said \u2018OK, does it have 1-er Cru written on the label\u2019 She said \u201cNo, it\u2019s got Grand Cru\u201d. I said \u2018Can you send me a photo of the bottle \u2013 the label and the bottle standing up\u2019 (as I want to see the ullage). When I saw the image, the wine looked in fantastic nick, and I said to her \u2018you\u2019ve got quite a bottle of wine there\u2019 She said, \u201cI\u2019ve got one bottle left and I was going to drink it with my daughter, but then she thought it might be quite expensive.\u201d I said, \u2018well, yes it is – conservatively I\u2019d put an estimate of $1600 on that, and look to achieve between that and 2500 dollars \u2013 and she almost fell over\u2019<\/p>

I can\u2019t check every cellar that we get wine from.. however there\u2019s a lot of questions you can ask people to find out if they know what they\u2019re talking about. We do turn down a lot. We have a thing that we say in the auctions \u2013 \u2018Buying old wine is not for everyone\u2019. You can get some great highs, and we do everything we can to make sure that the provenance of the wine is good, that it\u2019s been stored in the correct way<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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There must be some wines though, where you take them, and you must wonder, rather than know, if they\u2019re going to be OK? I don\u2019t suppose you can offer a guarantee, can you? <\/strong>No, we can\u2019t. We do price things accordingly. People who come to our auctions aren\u2019t following ME \u2013 they are following the wines I put on offer. Hopefully the other things we offer \u2013 like provenance, like weeding wines out \u2013 stands us above our competitors. Whilst this is a business by wine lovers for wine lovers, it is a business; there\u2019s only going to be one time where you try to pull the wool over someone\u2019s eyes \u2013 they won\u2019t come back and they\u2019ll tell other people.<\/p>

The majority of what we sell is Reds. There are wines that are followed by a lot of people \u2013 for quite a while the 2013 Coleraine, it was getting really big money \u2013 now, we\u2019re just getting reserve on it. We\u2019ve had \u201998 Coleraine going for $300 a bottle, and I remember I bought a case from Webb\u2019s many many years ago, and I think I would have paid $40 a bottle.<\/p>

Wines with residual sugar are not popular at the moment \u2013 your Ports, Sauternes and so on, but we do a bit of champagne. Dom Perignon is by far the biggest prestige champagne that we sell. We do Krug, Cristal \u2013 we had Salon \u2013 got passed in \u2013 they set their own reserve, higher than I would have set. There are some people who want to set their own reserves. But one of the things that people fail to remember is that with the internet, you can find whatever you want; and with six bottles or less coming into the country \u2013 there\u2019s no duty.<\/p>

If someone brought you a sealed wooden box, do you open it?<\/strong> Interesting you should ask that, because that\u2019s something I never used to do. However, I\u2019ve recently been on a preliminary course in Hong Kong with Margaret Downey from Winefraud.com, and she was a big person in the case of Rudy Kurniawan. I\u2019ve now enrolled to do the full course with them, so I will be an \u2018official wine authenticator\u2019 and that ties in very well with our business. We\u2019ve a bit of that in New Zealand, but there\u2019s a lot of guys who\u2019ve never come forward. They have been caught out and don\u2019t want the publicity.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Is there a wine you\u2019d love to get hold of \u2013 that you think \u2018one day I\u2019ll find one of those\u2019? <\/strong>Chateau Y\u2019quem. I\u2019ve got a few vintages in the cellar. The \u201967 is apparently spectacular \u2013 never tried a \u201967. The \u201976 \u2013 that great year all through Europe.<\/p>

Or Burgundy. I love Burgundy. It\u2019s such a minefield for most people.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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One of my first wine jobs here in New Zealand, was with Negociants. With Robert Hall-Smith, the owner, we were at a restaurant in the Adelaide Hills around 1988, and he pulled out a \u201962 Ducru Beaucaillou. That for me, was one of the reasons I wanted to get into wine \u2013 to have those moments in life where you taste something and it\u2019s like nothing you\u2019ve ever had before.. Just, wow.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Being a New Zealand auction house, do get more interest in New Zealand wine?<\/strong> Beyond your obvious ones like Dry River, Felton Road, Coleraine? People come along to an auction looking for a bargain. In the last auction we had, I paid $30 a bottle for them \u2013 some Fromm Pinot Noir 2000. Things like that \u2013 the wines you don\u2019t expect, that will surprise you. Like, recently, a few bottles of Muddy Water 2000 Pinot \u2013 just, wow. Those are the things.<\/p>

Plans for the future?<\/strong> We are planning to extend our business, authenticating wine will be a part of it, but also we are in the process of building temperature and humidity-controlled cellars for storage. We believe we will have the best \u2013 100% redundancy \u2013 so we have two refrigeration machines working alternately, so people can store wines in the correct conditions.<\/p>

And investments? When you see an old box of Grange \u2013 untouched.. someone has bought that as an investment surely?<\/strong> Bordeaux is very good. Have a look at the price of Grange as it is on release now \u2013 at $1000 a bottle. And we get between $400-650 a bottle, excluding fees. Penfolds have done a great job of convincing people that Grange is a great investment wine. The people who are doing best out of Grange, in my mind, are Penfolds. Unless you\u2019ve had something for an incredibly long time, you\u2019re not going to make money on it. You make your money when you buy. If you haven\u2019t bought well, or you\u2019ve bought off the shelf \u2013 it will be a long time before you recover that money. My own wine cellar is an investment in a good time! It\u2019s there to enjoy.<\/p>

It\u2019s been a very male-orientated industry, but we\u2019re getting a lot more girls buying now than previously. And a larger number working in the New Zealand wine industry \u2013 a lot of female winemakers. But a lot of wine we get consigned are from guys in their 60s and 70s with these huge cellars of thousands of bottles, that they realize they\u2019re never going to drink.<\/p>

In New Zealand we very much put wine on a pedestal. Wine is an everyday thing in a lot of people\u2019s lives. So people go \u2018wine\u2019s expensive, it\u2019s a rich man\u2019s game\u2019. There are a lot of expensive wines out there, but a lot that aren\u2019t \u2013 that people can consume on an everyday basis. Trends I see is people drinking less, but drinking better.<\/strong><\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

A series of interviews and articles with a theme of buying and selling wine here in NZ. Part 1: The Auctioneer. Interview: Reece Warren, The Wine Auction Room\u200b Lorem ipsum … <\/p>\n","protected":false},"author":1,"featured_media":756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-writing-about-wine"],"yoast_head":"\nA series: Selling wine in New Zealand - Part 1 - WineFolio<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/winefolio.co.nz\/?p=1124\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A series: Selling wine in New Zealand - Part 1 - WineFolio\" \/>\n<meta property=\"og:description\" content=\"A series of interviews and articles with a theme of buying and selling wine here in NZ. 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Part 1 - WineFolio","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/winefolio.co.nz\/?p=1124","og_locale":"en_US","og_type":"article","og_title":"A series: Selling wine in New Zealand - Part 1 - WineFolio","og_description":"A series of interviews and articles with a theme of buying and selling wine here in NZ. Part 1: The Auctioneer. 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