1/19/09 Wine At Auctions

Welcome to Vine to Wine this is your host Linda Moran. It is getting to be that time of year when many fundraising auctions are taking place. Recently a "wine lover" friend of mine asked "How do we know the value of the wine being auctioned so we do not look dumb if we want to bid?" So let's chat today about buying wine at a charity event. My friend was worried about looking dumb bidding on a wine at a charity auction, but I say anyone who is bidding at a charity auction is not dumb in my book. They are the people who recognize they are ultimately there to help the beneficiary. So that makes you my hero. But with that said; here is how it should work. In the catalogue for the auction there should be a notation that gives the retail value of the item. That is what you would pay for it, if in fact the wine is even available through normal retail channels. In the event that it is one of a kind, perhaps wines which have been specially bottled or produced just for the event, they may be described as "priceless" "one of kind" "unique" but in the end, you have to be given a value for your tax purposes. And that is important because you do not get a tax write off until you exceed the stated value for the item. Ultimately the real question is where did the wine come from? Was it properly stored and handled? The donor should be recognized in the catalogue. If it was donated from the winery or came from the cellar of a reputable distributor or collector then it is likely in good shape. But most all don't loose sight of what everyone is there for and that is to support the charity, do some good, have some fun and thanks for joining me on today's Vine to Wine!