Selling wine by auction

PaulS · Post by **PaulS** » Tue Aug 17, 2004 9:54 am

I'm just wondering if someone can advise me about selling some wine via an auction house. I have never done it before, but am thinking of doing so as I seem to have a little too much wine which I am not sure I will drink. So I was wondering, what kind of sellers commission would, for example, Langtons charge? And what happens with GST? Do I need to register for GST, and if so, would that mean I would have to declare the money I received for the wine? Any advice gratefully received.[/list]

markg · Post by **markg** » Tue Aug 17, 2004 10:48 am

PaulS wrote:I'm just wondering if someone can advise me about selling some wine via an auction house. I have never done it before, but am thinking of doing so as I seem to have a little too much wine which I am not sure I will drink. So I was wondering, what kind of sellers commission would, for example, Langtons charge? And what happens with GST? Do I need to register for GST, and if so, would that mean I would have to declare the money I received for the wine? Any advice gratefully received.[/list]

Paul,

Sellers commissions vary from around 13% (including GST) for Langtons down to 5% for my own auction. Please PM me if you want further information.

GraemeG · Post by **GraemeG** » Tue Aug 17, 2004 12:20 pm

GST's only on the commission, not the hammer value of the wine (unless you're ITB, in which case you'd hardly be asking the question).

cheers,
Graeme

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Selling wine by auction

Selling wine by auction

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