Rare Wine Auctions Show No Signs of Slowing

While Burgundy continues to reign at rare wine auctions, top Bordeauxs like Pétrus are seeing higher prices.

“In the third quarter of 2018, global sales of fine and rare wine at auction totaled $70.4 million, up a whopping 31 percent over 2017’s third-quarter total of $53.7 million. U.S. sales totaled $36.1 million, up 19.1 percent. Hong Kong sales rose 49 percent, to $26.3 million, and London sales increased by 40 percent to $8 million. As in the previous two quarters, pristine single-owner cellars and winery-direct consignments generated much of the heated bidding.”

“Acker Merrall & Condit’s first September sale, held in New York, brought in $7.2 million against a presale high estimate of $7.3 million. It was 96 percent sold. “Burgundy didn’t take a vacation this summer,” quipped Acker Merrall and Condit CEO John Kapon, in a statement. All 25 of his sale’s top lots hailed from the French region.”

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Face-To-Face Meetings Help Improve Sales Rates

The Sales Profession Saved My Life -- and Made My Company Millions

“(…) Prospects who refuse to make a final decision even after being held accountable to their previous declarations are politely telling you “no.” And keep in mind, “no” is a perfectly acceptable answer because “no” will not kill you in sales — “I don’t know” will destroy you with false hopes of commissions that will most likely never materialize.

This selling method can be applied to any number of excuses you are likely to hear at the end of your sales presentation. By addressing “I want to think about it” or “I don’t want to change suppliers” or “I need three bids” proactively, you will be in a very strong position to get a final decision about you and your company.

Never be caught flat-footed when it comes to objections and stall tactics. Proactively anticipate and prepare for whatever excuses may come up.

The key is to combine basic psychology and sales fundamentals to proactively eliminate the inevitable excuses prospects will raise to postpone making a decision. By removing the excuses ahead of time, the prospect will be more likely to make that final decision in your presence, which will dramatically increase the probability of a successful outcome.”

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