Guide: The Best Time to Sell Wine
We’ve taken a deep dive into marketplace sales data and here we present a range of recommendations you can use when choosing the expiration time for your next listing.
Many factors affect whether you’ll sell your wine, as well as how many bids you’ll receive. By following the advice in our guides with 5 tips for the perfect listing and 3 tips for pricing your wine, you’ll also increase your chances of a successful sale on ShareWine.
But let's get back to timing – it can make a big difference when you list your wine for sale, as well as when the auction ends. Let’s start by looking at the ideal expiration time on the listing.
Good Times to Sell Wine
It’s important to establish that wine is sold on ShareWine every day of the week, and in principle, you can sell on any day. However, your timing can greatly impact your chances of receiving bids. One might be tempted to think that the best time to sell is when traffic is at its peak and most buyers are online on the marketplace, but this isn’t always the case. For example, it also matters how many other auctions are ending at the same time, competing for attention with your wine.
Best Time of the Month
A little surprisingly, sales data shows that the days around payday (the first of the month for most people) are generally not bigger auction nights than other times of the month. Instead, the number of sales at the beginning, middle, and end of the month are very close to each other. From this, we can conclude that if you have the right wine at the right price, it has an equal chance of selling at the beginning of the month as it does in the middle or at the end of the month.
Best Time of the Week
Overall, Sunday is the biggest auction night on ShareWine. Then Thursday and Friday are also good times, with high traffic and bidding activity. Especially the last Thursday of each month is worth noting, as there’s always a theme auction held on that evening. Therefore, make sure you stay informed about upcoming theme auctions so you can time your listings with these themes. You will benefit from ShareWine’s extensive marketing related to the theme auctions.
Here’s a list of the days of the week with the most sales:
Best Time of the Day
The time of day when your auction ends also matters a great deal. You should choose the window between 6:00 PM and 10:00 PM.
Be Aware When Relisting
If you don’t succeed in selling your wine the first time, you may need to relist the auction and let it run again. Always note the time your auction expires after you’ve relisted and, if necessary, adjust the time. If your auction has been relisted multiple times, always lower the price, as the chances of the auction gaining new followers and receiving bids drop significantly after it has been relisted more than five times.
Auctions that are relisted won’t be picked up by search agents, so this is another reason to set an attractive starting price from the start, rather than gradually lowering it when relisting.
What is the Optimal Duration?
Most auctions on ShareWine last for 7 days, and if the starting price is set attractively, this is optimal, so the transaction can be completed quickly. Sales data reveals no advantage in letting auctions run for 10-14 days, and while one might think this would give more buyers the chance to see the listing, it often increases the risk of interested buyers losing interest or bidding on other wines in the meantime.
Our recommendation is 5-8 days for wine auctions and 14 days for fixed-price listings.
Conclusion
As mentioned, the time you sell is an important factor for success. By following these 5 tips, you increase the likelihood of a sale on the marketplace:
-
Choose the Time Slot Between 6:00 PM and 10:00 PM
The 6:00 PM to 10:00 PM window is the perfect time to sell on ShareWine. Traffic and bidding activity typically peak between 8:00 PM and 9:00 PM.
-
Choose Sunday, Friday, or Thursday
These three days are the best for selling. Sunday is the biggest auction night of the week, but also the competition for attention is greatest.
-
Keep an Eye on ShareWine’s Theme Auctions
Try to time your listings with upcoming theme auctions, as they attract buyers who are specifically interested in wines from regions like Champagne, Bordeaux, Tuscany, etc.
-
Be Aware When Relisting
Your listing has the best chance of selling when it’s first created, so try to make it as attractive as possible from the start. If the listing needs to be relisted, keep an eye on the new expiration time and consider adjusting the price.
-
Avoid Long Auction Durations
For most auctions, 5-8 days is ideal, but experiment and see what works best for you.