Benchmark/Cellartracker Selling Process

I hadn’t noticed this when it first came out, but saw it referenced in another thread. Benchmark and Cellartracker have partnered to provide that you can check off the wines you want to sell on Cellartracker and then submit through that site to Benchmark for evaluation and eventual sale if the parties come to agreement. It seems to me at first blush like an intuitive idea, and a potential win/win/win for Benchmark, Cellartracker (who would get a referral fee from Benchmark), and Cellartracker users. A few questions for anyone who has used it. Did you like the process? Is there a minimum amount of value in wines to make it worthwhile for Benchmark (for example, I might want to sell $5,000 or $10,000 of wine but not $50,000). How does shipping work (the FAQs on shipping looked pretty vague)? Can you get more value if you accept payment in Benchmark credit for other wines rather than cash? Other things that were important to you I might not have thought of? Thanks in advance for any help.

Where is the link? I don’t see it on Benchmark or CT.

Most of the questions here are really between the prospective seller and Benchmark.

For posterity, let’s link our FAQ here: Selling Wines From My Collection - CellarTracker Support

We have not actually done a broad announcement of this yet, just on our social media.

Very cool.

Just submitted some wines. Was told they want cellars $10,000 and above. Pfft.

Sorry Michael. Here is the guidance that we have in our FAQ:

Will Benchmark buy all of my wine?
Usually. Benchmark typically purchases collections that are greater than $10,000 but have flexibility on smaller collections that contain highly desirable producers such as DRC and Screaming Eagle. They are more than happy to take a look at any list that contains collectible, well stored wines that are in re-sellable condition.

I’ve sent them two lots. Definitely no where near 10k in value.

I sent them list. They send back what they want and what they pass on, And an offer. To me it was around 75-80% of WS.

They shipped me empty shipper boxes and labels. I put wine in. Pack. Label. Drop off at FedEx.

They receive. Validate. Send you a check.

Super easy.

Through the CT link?

I sent them some 100 pointers through the CT link and got the “you’re too small for us” email in response.

yah… through the CT link… it was in 4 figures total value… but low 4 figure… not near 10K…

Shipping is easy, see my post above.

I was not offered benchmark credit. i didn’t ask either… but it’s a good point if you’d get more value if you got credit.

One thing i would note… you send a list of say 100… they migth take it all, they might take 90… and say these 10 we’ll pass/no demand/thank you.
After that you are not committed to selling the 90… you can still pull some back… so you can say ok of the 90 you’ll take… i actually want to keep 10. so here’s the 80 i’m willing to sell - they’ll give you revised offer etc…

it’s all pretty basic communication… never felt scammed or anything… you sign a simple contract, ship the wine, get paid. done.
You won’t get WS low… it’s 75-80% of WS low… so i won’t sell all the wines this way, but for some bottles, i don’t mind getting a bulk deal done… in part to save some headache as well.

Mark, why did you choose to go this route vs. others (e.g., K&L)?

Hmm no idea honestly. Just tried it with the CT integration. Worked. So did it again.
Headache saving is critical to me. These aren’t drc bottles so a few % either way makes little difference… 2-3% of $1000 is $20-30. Thus, Headache saving is key. :slight_smile:

Can’t argue with that.

Well I suck then and I am a customer of Benchmark.
Back to Commerce Corner for me.

I guess you would need to pay taxes on items sold?

IF you have a gain and held for more than a year, 28%. Less than a year, taxed at your income rate.

Everyone: Thanks for all the helpful replies. I think I may give this a try. Mark’s point above is key to me: headache saving is the most important; a few percent of dollar maximization is not, as long as the offer is fair. I’ve been planning to rebalance my cellar from stuff that is really good but not my cup of tea anymore to other stuff that is. Maybe this will help me along.

I guess I did this the old fashioned way. I downloaded the wines that I wanted to sell into a spreadsheet and sent it to Benchmark. They responded with a timely and fair proposal and sent me all the packaging supplies needed and paid for overnight shipping of the wines.

A really painless process.

As an aside I sold around 50 good bottles in order to pay for a new John Deere tractor. There is something slightly disconcerting that 4 cases of wine and that beautiful green tractor have the same worth!

1 Like

I am just curious, did you do this before or after the “selling list” feature existed? And if after, is there a reason why you didn’t use the integrated feature?

I’m not sure actually. I did this about 2 weeks ago and if the feature existed then, I didn’t know about it otherwise would have definitely used it.