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"Hammer Price"

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BDD888 Jun 1, 2011 10:57 PM

What does "hammer price" refer to? The price we pay?

http://www.wineconsigners.com/wines/d...

  1. SteveTimko Jun 2, 2011 07:50 AM

    Like when an auctioneer hits the gavel and says, "Sold!"

    9 Replies
    1. re: SteveTimko
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      BDD888 Jun 2, 2011 08:59 AM

      So, then that IS the price the bottle is sold for? I did guess what it referred to. Just wanted to make sure.

      1. re: BDD888
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        andtheodor Jun 2, 2011 09:12 AM

        The price of the bottle/lot without the buyer's premium applied (typically 14-20%).

        1. re: andtheodor
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          BDD888 Jun 2, 2011 09:25 AM

          Without the "buyer's premium"? Can you explain? I've never bought a bottle of wine via bidding.

          I contacted the company and they told me the final cost would be the hammer price plus shipping (to LA).

          1. re: BDD888
            a
            andtheodor Jun 2, 2011 12:35 PM

            I've never done business with the company in question but winebid, vinfolio, and the like typically charge a premium on top of the winning bid plus shipping. It looks like this company is a single-party auction and has no premium so what you see is probably what you pay.

            1. re: andtheodor
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              BDD888 Jun 2, 2011 01:14 PM

              Might buy from them just before I leave LA.

              1. re: BDD888
                s
                sedimental Jun 5, 2011 03:41 PM

                You might try winecommune.com when you are in LA, lots of private people selling. There are some bad apples there(as everywhere) but most people have very good luck and you can get really great deals. Stay away from "big" sellers there- they don't care about provenance.

                1. re: sedimental
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                  BDD888 Jun 5, 2011 04:49 PM

                  Thanks Sedimental. But I think I'll stick to known established LA wine shops. :)

                  1. re: BDD888
                    Eugene Park Jun 8, 2011 10:00 AM

                    K&L has been running online auctions for a number of months now. There's no buyer premium assessed, which is nice. Winning bidders have the option of picking up their lots at K&L stores free of shipping charges. They have a location in Hollywood, so you'd just have to time the auctions to close and ship while you're in the LA region.

                    1. re: Eugene Park
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                      BDD888 Jun 8, 2011 10:50 AM

                      Will keep that in mind. Thanks EP.

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