Did I just win a mispriced auction lot

Are you talking about the ones priced at $120? I saw two lots. I wondered what was up.

$150 plus vig is $173, a little (10%) less than WMJ average auction prices ($195). So if you like the wine you got a good deal but not some outrageous steal.
Secondary market (auction) is true market for wine, not what a retailer asks.


Just looked and I paid Rob $175/bottle in 2018 for my 2014’s.
If you paid $150 plus commission and taking on some storage risk, you did fine but don’t need to worry about getting 375’s. I don’t recall ever seeing a Greer 375.

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It is typical for Brentwood to seed a few low-opening-bid lots into every auction to stimulate activity and thorough review of the lot list by browsers. Consider it a bit of an Easter egg that you found.


Long ago, they used to do orphan-lot auctions of things that had stagnated at set reserves. Those auctions had all bids starting at $2, which both made for some bottom-feeder deals and low bid increments, which I think also stimulated bid activity. Enjoy your winnings.


For the last ten years, very little is overpriced. Before that, a lot (pun not intended) slipped through the cracks. One auction around 2000, there was a chateau bottled Cheval 1928 being offered at the end of an auction. No takers, it was offered with a $600 low estimate. Level was high shoulder. I ended up buying it for $200, and we drank it a couple of years later. It was magnificent. With the net, and Wine Searcher, there is zero chance of something like that happening. So if you get something 20% net below Wine Searcher, you are doing well.

Every auction house has their formulas for pricing.

FWIW, you only got a relatively small discount to market. It’s not like you got a Marcel Juge for half price, and can easily flip it for a big profit today.

Enjoy the savings though. Always good to save, even if it’s 10%.