06/11/07 Email Wine Auctions

Welcome to Vine to Wine this is your host Linda Moran. On today's program we are answering our listeners questions. Recently a "wine lover" wrote "My wife and I have been to a couple of fundraising auctions that feature wine lots or a special bottle. How do we know the value so we do not look dumb if we want to bid? Please help." Well first of all anyone who is bidding at a charity auction is not dumb in my book. They are the people who know they are ultimately there to help the beneficiary. So you are 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 retail channels. Since you mention special bottles, some wines my have been specially bottled or one of a kind wines 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 unless you pay more for the item than its value. Ultimately the real question is where did the wine come from? Was it properly stored and handled? If it was donated from the winery or came from the cellar of a reputable distributor or collector then it is 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!