Benefits of Buying & Selling In Bond Wine
Wine Auctioneer is pleased to announce that we are starting in bond services for selling and buying mature and rare fine wines through our auction platform. Building on our auction service, the offering of in bond buying and selling will allow our customers greater access to mature and rare fine wines from across the globe.
If you are interested in buying or selling in bond wines with Wine Auctioneer, please read the information below to better understand the benefits of buying and selling wine in bond. Our step-by-step guides will walk you through the process of buying and selling wine in bond with Wine Auctioneer.
BENEFITS OF BUYING AND SELLING WINE IN BOND
Duty and VAT - Wines bought in bond have Duty and VAT deferred. If you wish to sell your wine in bond, you will not pay VAT and Duty unless removed from bond.
VAT efficiency - If you wish to have wine removed from bond in the future, then there is the benefit that VAT is payable on the initial sale price of the wine, not the current market value.
Provenance and tracking of ownership - Wines that have been stored in bond are much easier to track, raising confidence on provenance.
Secure, climate optimised bonded warehouse - When you buy or sell wine in bond with Wine Auctioneer, you have the option of storing it in our bonded warehouse, where you can be confident it will be cared for and handled properly in optimal facilities. The bonded warehouse is free from vibration, UV and daylight with bespoke temperature and humidity controls ideal for fine wine storage and maturation.
Demand for in-bond wine - Due to the provenance, tracking, reassurance in storage and Duty/VAT efficiencies, wines stored in bond are very attractive to prospective buyers. Therefore, secondary market prices will often achieve or exceed a similar value for regardless whether the Duty and VAT are paid.