In most cases, you may apply a reserve price to your wines when selling via auction.
What is a reserve?
A reserve is the confidential minimum price at which a lot may be sold. If bidding does not reach the reserve, the lot is passed in.
What is a house reserve?
A House Reserve is a system-generated reserve, set at approximately 80–90% of the Low Estimate. It is used where a Seller is not permitted to set their own reserve, or where a lot moves through repeated unsold auctions.
How reserves may be set
- You may set a reserve at or below the Low Estimate.
- You may request a reserve above the Low Estimate, subject to LANGTONS' approval.
- If the Low Estimate is $20 or less, a House Reserve applies and you cannot set a reserve yourself.
Once the auction is live
Once an auction has gone live, the reserve can no longer be changed.
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Entrusting your wines to LANGTONS begins with a conversation. You may also share your enquiry through our Auction and Valuation contact form or speak directly with your Private Client Manager.
Our specialists are only a phone call away on 1300 946 347.