Long associated with wealthy collectors and grand cru wines, wine auctions still carry an air of exclusivity. Yet they offer access to rare bottles, often at prices below those of the traditional market. From inspection to sale, auction houses oversee every stage to guarantee the quality and authenticity of the collections they offer.
Now held largely on online platforms, these sales allow buyers to browse international catalogues, check the estimates and bid from home, in France or abroad.
A Wine Specialist at Sotheby’s Paris office, Maxime Sanders Thieffry has been responsible for sales in continental Europe for a little over two years. Before that he spent two years in London, handling logistics and post-sale operations. He holds a master’s degree in finance and has made auctions his passion. Here he takes us behind the scenes of the market: how collections are selected, how bottles are authenticated, how to buy, what it costs and how international shipping works.
Interview conducted on 4 November 2026.
Authenticity: every bottle inspected, one by one
At Sotheby’s, every case is opened and every bottle examined individually. Fill level, condition of the label, quality of the cork and capsule: nothing is overlooked. On-site visits matter just as much. They are a chance to inspect the cellar, check the storage conditions and meet the seller, all of which helps to establish the provenance of the bottles.
“We can’t open the bottles or drink them, unfortunately. I’d be delighted to drink grands crus all day long!” Since tasting is out of the question, the appraisal relies on meticulous inspection to judge how likely a wine, even a very old one, is to drink well.
Authenticity is the other major concern. Trained in the anti-counterfeiting measures introduced by the estates, the teams are especially vigilant with certain highly sought-after names, such as old vintages of Petrus, Romanée-Conti or the wines of Henri Jayer.
The rule is simple: at the slightest doubt, the bottle is set aside. It may be submitted to an independent expert and, if the suspicion is confirmed, withdrawn from the sale for good. In a little over four years, between London and Paris, the specialist has not heard of a single complaint about a counterfeit. Every lot comes with inspection notes and photographs.
There is still a risk of an unpleasant surprise when the bottle is opened, just as there is at a wine merchant’s: “You can buy a recent bottle and end up with a corked wine.”
Selling your wine cellar: carefully selected collections
Anyone can offer their cellar to Sotheby’s, with no conditions attached. A questionnaire and a set of photographs allow the house to make an initial selection. It does, however, favour substantial collections, in both volume and value.
“Unfortunately, every day we turn down a great many cases or single bottles, even though they are very good.” A single bottle of Lafite 1990, for example, will generally not be accepted. A collection built with a degree of coherence is of greater interest and has usually been stored in consistent conditions, a mark of quality for buyers.
Some submissions are rejected as soon as the photographs are examined, when the condition of the bottles points to poor storage. This demanding selection is paying off, judging by the client feedback Maxime Sanders Thieffry reports.
Who is buying? An international clientele that is getting younger
Seen from Paris, Sotheby’s clientele is spread across three major markets: Asia, Europe and the United States. It includes private individuals and trade buyers alike.
In Europe and the United States, buyers are still predominantly men. In Asia, the split is close to parity, with a growing number of women. Another notable change: the clientele is getting younger. Some American and European buyers are only 25 or 26, and the range extends up to 70.
Far from the stereotype of the speculator, these buyers are above all collectors who buy wine to drink it. The wave of investors, particularly marked after Covid, in 2021 and 2022, has now subsided.
A few buyers accumulate bottles in such quantities that “one lifetime may not be enough”. Even so, their approach tends to be a considered one: each knows what they are looking for and wants to build a coherent collection.
Online auctions: how they work
Sotheby’s wine sales are now held almost exclusively online, with the house generally holding only one live sale a year. Catalogues stay open for two weeks, during which buyers can place their bids. On closing day, the lots close one after another, with a countdown of 30 seconds to one minute depending on the size of the sale. Any new bid placed within that window extends the time by 30 seconds.
There is no need to stay glued to your screen, though: the maximum bid system (max bid) bids on your behalf, up to a ceiling you set in advance.
Take a bottle at €1,000, with bidding increments of €100. You set your ceiling at €2,000. If a rival bids €1,200, the system automatically goes to €1,300, and so on, without ever exceeding €2,000. The ceiling is therefore not necessarily reached. Specialists can also place these bids on behalf of their clients.
At live sales, there are two further options: telephone bidding, with a specialist bidding for you in real time, and the absentee bid, left with the auctioneer before the sale.
No minimum budget is required. “Lots can start at accessible prices,” he insists, and he regrets that auctions are still associated with the grandest names and dizzying prices. Major collections also include far more affordable bottles. Lots are put together case by case, most often in cases of six or twelve bottles, sometimes up to 24, as in a recent sale that featured many wines, including those of Clos des Lambrays.
What does a bottle really cost at auction?
It is one of the least-known facts about auctions: they often make it possible to buy wine for less than a wine merchant would charge.
“A bottle of Lafite that you will find at 800 or 1,000 euros at a wine merchant’s, we may estimate at 300 or 400 euros, as a low estimate.” The final price depends on the bidding: it may end up above or below the estimate. “Auctions, and not only those of Sotheby’s, are the most efficient mechanism for finding the best bottles at the best price.”
The additional costs still have to be taken into account. The hammer price is the price at which the lot is knocked down. On top of that comes a 25% buyer’s premium, announced in advance and included in the estimates. For buyers in the European Union, VAT of 20% applies to the premium alone. As excise duty (the tax on alcoholic drinks) has already been paid on wines sold from Paris, no other tax is generally due.
For example: on a lot sold at a hammer price of €1,000, the buyer’s premium comes to €250 and the VAT to €50 (20% of €250). The total cost is €1,300, excluding transport. Buyers outside the European Union do not pay this VAT, but their purchases may be subject to import duties and taxes in their own country, on top of shipping costs.
Buying from abroad: taxes, transport, time difference
For buyers based outside the European Union, import taxes vary considerably: they can be zero in Hong Kong, while in the United States the rules and taxes on alcohol differ from one state to the next. Transport, charged according to destination, also needs to be factored in. It is therefore essential to work out all of these costs and check the local regulations before setting a maximum bid.
The time difference is no obstacle: thanks to automatic bidding, clients abroad do not need to be online when the sale closes.
In 2025, the announcement of new US tariffs led Sotheby’s to offer a storage solution to its American clients. Things have since calmed down: “Everyone is asking to export.” Elsewhere, as in the United Kingdom or Hong Kong, clients often prefer professional storage.
His advice to newcomers is to contact the house by email or telephone: with auctions, “you don’t walk into a shop with your bank card and leave with the bottle. It’s different.” Once the sale is concluded, Sotheby’s coordinates the whole process, through to worldwide shipping handled by its partners.
The 2026 Hospices de Beaune sale: how to buy a pièce
Held on the third Sunday of November, the Hospices de Beaune wine auction is one of the unmissable events of the year. Conducted by Sotheby’s, it follows very particular rules: buyers do not acquire bottles, but a barrel, known as a pièce, which will yield around 300 bottles.
The event also has a charitable dimension. The wine estate, which belongs to Beaune’s public hospital, covers more than 60 hectares and comprises 52 cuvées. All the proceeds of the sale go to the hospital to fund its projects: new buildings, equipment or the development of the institution.
The highlight of the sale is the Pièce des Présidents. This year it is a Clos de Vougeot grand cru, and its proceeds are donated in full to one or more charities, represented by celebrity patrons whose role is to drive the bidding.
In the great hall of the Hospices, places are limited. “We would love to welcome everyone, but it isn’t possible.” Invitations therefore go first to wine merchants, major regular buyers and the house’s private clients. Other participants can bid by telephone with a specialist, follow the sale live online or submit an absentee bid.
What does the buyer of a Hospices de Beaune pièce receive?
Buying a pièce is a commitment lasting several years. It is therefore advisable to contact Sotheby’s beforehand: a dedicated team works on this sale all year round.
Bidding is for the current year’s vintage, just two months old: 2026 this time. The barrel must then be entrusted to a partner merchant who matures the wine, and whom the buyer pays. The bottles will only be available after two to three years of maturation. Specific fees and taxes are added to the hammer price; the details are set out on the page dedicated to the sale.
Once the wine has matured, the partner bottles it. The buyer then receives around 300 bottles on a pallet, or in other packaging if they prefer, with a personalised label bearing their own name, that of someone close to them or that of their club.
Wine auctions: a market more accessible than it seems
Wine auctions are no longer the preserve of great fortunes and legendary bottles. No minimum budget is required, catalogues can be browsed from home, and the maximum bid means there is no need to be online on closing day. The buyers themselves are changing: younger, they look more like passionate enthusiasts than speculators.
Preparation, however, matters more than budget. Buyer’s premium, VAT, import taxes, transport: costing each item before setting your ceiling avoids unpleasant surprises. An auction is not something to walk into unprepared, but it requires neither a seat in the saleroom nor expert knowledge. Maxime Sanders Thieffry in fact encourages new buyers to contact Sotheby’s, which will be able to answer their questions.
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