Inherited wine
Inherited a wine collection? Start with a written valuation.
A free written valuation of the cellar at Liv-ex mid-prices within 48 hours. Nothing has to move, nothing has to be decided, and you will understand what you are dealing with before you speak to anyone else.
- Free and in writing
- Nothing has to move
- Talk to a person
Rather talk to someone? +44 (0)20 3576 5592, Monday to Friday, 9am to 6pm. Outside those hours, leave a message or use the form and we call you back the next working day.
Request a valuation of an inherited cellar
A photo of the cases, a warehouse statement or a rough list is enough to start.
- Liv-ex member advisers
- Knightsbridge, London
- Valued at Liv-ex mid-prices
- Written within 48 hours
- Wine can stay exactly where it is
First, what not to do
Three things worth knowing before anything happens to the wine.
01
Do not move it yet
Wine in a bonded warehouse is in the best place it can be. Moving it to a house or a garage can reduce its value and, if it leaves bond, can trigger duty and VAT. Ask the warehouse to put the account on hold and send you a stock list.
02
Do not throw the paperwork away
Purchase invoices, warehouse statements and original wooden cases are what give wine a documented history, and a documented history is what buyers pay for.
03
Do not accept the first offer
A written valuation at trade reference prices costs nothing and gives you a number to hold any offer against, whether it comes from a merchant, an auction house or a family friend.
What the valuation is
A written figure, line by line, with the reasoning.
We value each wine at Liv-ex mid-prices, the reference the trade uses, adjusted for condition, provenance and whether duty has been paid. You receive a written statement listing each wine, the basis for the figure and a total, plus a note of anything we could not verify from the list alone.
It is suitable for insurance and for your own decisions.
What we need
Producer, vintage, case size and quantity. A photograph of the labels or cases, or the warehouse stock list, is usually enough. If the wine is in bond, the warehouse can send the list to us directly with your authority.
The options once you have a number
Keep, realise, or divide.
Keep it
Some families keep a collection in bond in the estate's name or transfer it to a beneficiary. We can explain how a bonded account is transferred and what it costs to keep it there.
Realise the value
We list on the Liv-ex market and execute against live trade bids. Net proceeds reach the estate or the beneficiary within five to ten business days of settlement, with a full statement for the executor's file. Our commission is 7% of confirmed proceeds on exit, or 2% where the value is reinvested with us, and nothing is charged before proceeds are confirmed.
Divide it
Where beneficiaries want different things, a line-by-line valuation lets the estate split cases fairly, or realise part and keep part. We have done this before and can talk through how it usually works.
Who we are
Fine wine advisers, not a call centre.
Cellar Advisor is a Liv-ex member advisory and brokerage in Knightsbridge. Client wine is held in the client's own name at LCB Eton Park, an HMRC-approved bonded warehouse. We never hold title to your wine. You will deal with one named person from the first call to the settlement statement.
Cellar Advisor is not a solicitor and does not act as executor. The estate's own advisers remain responsible for probate and inheritance tax filings.
How it works
Four steps, at your pace.
01
Send what you have
A photo, a warehouse statement or a rough list.
02
Written valuation within 48 hours
Each wine listed, with the basis for the figure and a total.
03
A call if you want one
To talk through keep, realise or divide. No pressure and no deadline.
04
If the estate decides to realise
We handle listing, execution, settlement and every warehouse movement, and send a statement for the file.
Common questions.
- The wine is in a warehouse I have never heard of. What do I do?
- Contact the warehouse with the account details and a copy of the grant or the death certificate. Ask for a stock list and ask them to hold the account. Send us the list.
- The wine is in the house. Is it worth anything?
- Possibly. Fine wine stored at home is valued more cautiously, but a good vintage from a known producer can still carry value. Send photographs of the labels and we will tell you honestly.
- How long does this take?
- A valuation within 48 hours of receiving the list. If the estate then realises the wine, five to ten business days from settlement to proceeds.
- Do I need probate first?
- For a valuation, no. To realise the wine, the executor or administrator needs the authority to act, and we will tell you what we need to see.
- Is there any tax to think about?
- Wine in the estate is generally valued at open market value for inheritance tax. On a later disposal, HMRC generally treats wine as a wasting asset, so a gain may generally fall outside capital gains tax, with exceptions. This is not tax advice; the estate's solicitor or accountant should confirm the position.Read our plain-English note on wine and capital gains tax
Risk warning
Capital at risk. The value of fine wine can fall as well as rise and you may get back less than you invest. Past performance is not a guide to future performance. Fine wine is a physical asset and investment in it is not regulated by the Financial Conduct Authority. You will not have access to the Financial Services Compensation Scheme or the Financial Ombudsman Service. Fine wine is illiquid and may take time to sell. Cellar Advisor does not provide financial, investment or tax advice. Please seek independent advice before making any investment decision.
Rather talk to someone?
Speak to a person about what you have found. No pressure and no deadline.
+44 (0)20 3576 5592Monday to Friday, 9am to 6pm
Outside those hours, leave a message or use the form and we call you back the next working day.
Request a valuation of an inherited cellar
A photo of the cases, a warehouse statement or a rough list is enough to start.