Just a reminder that the second wave of the Ritchies wine auction takes place this weekend. There are two sessions - Saturday, December 6 starting at 10:00am and Sunday, December 7 also starting at 10:00am.
The auction this past fall certainly showed signs of slowing. Many lots were passed on and the hammer prices tended towards the lower estimates. Of course, there were plenty of exceptions, but it will be interesting to see how things go this time, especially given that there remains little confidence in the economy.
If the reserves haven't been lowered for the lots offered this weekend, I expect to see a huge number of passed lots again.
And if you are planning on bidding, remember that there's another 30% added to the hammer price (buyer's premium + gst + pst).