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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Need assistance?
Entrusting your wines to LANGTONS begins with a conversation. To save time, share your enquiry through our Auction and Valuation contact form and one of our specialists will be in touch shortly.
You are also welcome to speak with your Private Client Manager, or call our Auction and Valuation team on 1300 946 347.