Auction FAQs

 

What do I need in order to bid in a TCWC auction?

  • “Bid Only” Auctions are held athttps://auctions.tcwc.com, which is separate from our TCWC retail site. Registration and log-in details are exclusive to each site so even if you already have an account at tcwc.com you will need to register again to participate in “Bid Only” Auctions. 
  • “Bid or Buy-It-Now” Auctions are conducted within and alongside our retail site. All that is required to participate in a “Bid or Buy-It-Now” Auction is a standard account login at https://www.tcwc.com.

Can I bid on (or buy) a single bottle or a quantity less than the full lot?

In our “Bid Only” auctions, bidding is solely limited to the entire lot as listed.

In our “Bid or Buy-It-Now” auctions, single bottles are available ONLY if a bid has not been placed on the entire lot. If this has not yet occurred, you have the option to “Buy It Now” for as many bottles as you wish.

What is Buyer’s Premium?

Buyer’s Premium is an amount added to the hammer price of an auction lot that is payable by the buyer. This additional amount is collected by TCWC to cover the costs of running the auction.

  • Bid Only Auctions: TCWC will add a buyer’s premium of 20% to all successful bids after the closing of the auction (the fee is not included in the bid total). 
  • Bid or Buy it Now Auctions: TCWC has already included the buyer’s premium in the bid totals and no additional fees (other than sales tax) will be added to the total.

What does it mean to place a “Max Bid”?

While some bidders want to actively participate and raise their bids as necessary throughout the auction others often choose to select a maximum dollar amount they are comfortable spending to win the lot. By selecting a “Max Bid”, TCWC’s auction platforms will automatically bid on their behalf in an amount necessary to win the lot but no higher than the maximum amount selected.

What is a bid extension and is it available for all auctions?

  • “Bid Only” Auctions: Whenever a bid is placed on a lot within the final 5 minutes of closing, bidding on that particular lot will be extended for another 5 minutes. This process will be repeated until no bids are received within the final 5 minutes. 
  • “Bid or Buy-It-Now” Auctions: There are no bid extensions. The last and highest bid received within the scheduled bidding time will win the lot.

Can I cancel my bids?

All bids are final and cannot be withdrawn or cancelled.

How do I pay for the lots I win?

Bidders will be invoiced for all successful lots for both “Bid Only” and “Bid or Buy-It-Now” auctions with payment terms of 10 days. TCWC accepts cash, checks, wires and all major credit cards. Bidders who fail to pay in a timely manner may have their bidding privileges revoked for future auctions. For all “Buy It Now” transactions, payment is due by credit card at the time of checkout.

Can TCWC ship to me?

When possible, TCWC is happy to assist with shipping arrangements but makes no representation as to the legal rights of anyone to deliver or import any alcoholic beverages or other goods into any state. Title and ownership of all wine passes from TCWC to buyer in the State of Illinois, and buyer takes all responsibility for the product being transported from Illinois to the buyer’s selected destination. Buyer may pick up the product at TCWC or make independent delivery arrangements. Sales tax will be applied based on TCWC’s location in Illinois.