Posted on

Press Release – Canada’s First Fine Wine Auction By Iron Gate Auctions

Wine industry’s shift to digital poised to put Canada on the Fine Wine Auction map in 2021

IronGateAuctions.com commercial platform provides wine collectors access to rare vintages and a point of entry for new, energized buyers

March 4, 2021 [Calgary, Alta.]: The Covid-19 pandemic has accelerated a digital shift for the fine wine auction industry, with international auction houses reporting strong online sales results in 2020 marked by new buyers driving significant growth. Until now, Canada hasn’t registered on the fine wine auction map, but with the launch of Canada’s first national fine wine auction by Iron Gate Auctions, Canadians will finally gain broader access to vintage wine and rare spirits from collections for sale in Canada. 

“Historically, live auctions have held a rarefied image and attracted an exclusive wine buying pool,” says Warren Porter, Founder and President of IronGateAuctions.com. “With the advent of online auctions in Canada, a broader audience of collectors and first-time buyers have the chance to find vintage wines rarely available in Canada.” 

Porter recognizes that wine buyers of all stripes, whether new or seasoned, are looking for tips to achieve the best outcomes with their online bids. To help, IronGateAuctions.com will host a Demystifying Wine Auctions free webinar on Sunday, March 21 at 8 p.m. E.S.T. / 5 p.m. P.S.T. featuring Stephen Ranger, Canada’s foremost wine auctioneer and Director of Ranger Wine Inc. Participants will learn how an online auction works, get buying strategies for success and hear expert analysis of hot commodities and smart buys before the first online auction opens for bids. Anyone interested in attending this free webinar can register at www.irongateauctions.com/webinar .

“The most important advice I give to buyers is to do your research and know your budget prior to the auction,” says Porter. “The IronGateAuctions.com platform makes the research part easier than ever and with these tools we can help our clients make smart decisions in this new digital environment.”

Building on the successful online charity wine auction business that it launched in November 2020, IronGateAuctions.com’s commercial division is based in Calgary, Alberta. The online auction house offers a deep cache of rare, vintage wines meticulously sourced from private collections across Canada.

Canadians can register their name and email address at IronGateAuctions.com to receive updates and information and early access to the auction catalogue beginning on March 13. Wines from every region of the world and all price points will be on offer at this inaugural auction, which runs from March 23 at 1 p.m. E.S.T. to March 30 between 8 p.m. and 10 p.m. E.S.T. Some rare wines for sale include:

  • An assortment case of 2004 Domaine de la Romanée Conti including 95-point rated Romanée Conti 
  • 1998 and 1999 DRC La Tâche, Echézeaux, Grands Echézeaux, Richebourg and Romanée St-Vivant
  • 2017 and 2014 DRC La Tâche
  • Excellent vintages of red and white Burgundy from Meo-Camuzet, Comte du Vogue, Georges Roumier and Domaine Leflaive
  • Parcel quantities of First Growth Bordeaux including Chateau Margaux, Chateau Latour, Chateau Lafite, Chateau Haut Brion, Chateau Cheval Blanc, Petrus and Le Pin
  • Multiple lots of Chateau Mouton Rothschild in many vintages and formats including magnums and double magnums of the 100-point 1986 vintage
  • Excellent variety of Rhone Valley producers including Jean Louis Chave, Guigal, Chateau Rayas and Domaine de Marcoux
  • Spectacular New World gems including magnums of 2009 Penfolds Grange as well as offerings from Harlan Estate, Caymus and large format Dominus.

The auction will also feature multiple lots for collectors at all price ranges and parcel lots for current drinking. All the wines on offer come from exceptional collections and have been impeccably stored. 

“It’s an exciting time for Canadian buyers to embrace the potential of online wine auctions,” says Porter. “The relatively limited movement of private wine collections in Canada to date means that there is huge opportunity right now to find wines with provenance and bottles in fantastic condition. These are great incentives for early adopters to jump in.”  

Interested wine buyers can register at IronGateAuctions.com for regular updates and early access to catalogues and information about all upcoming auctions.

IRONGATEAUCTIONS.COM – HOW IT WORKS: 

  • Catalogue for the inaugural auction will be available for preview beginning on Saturday, March 13
  • Auction opens on March 23 at 1 p.m. E.S.T. and closes on March 30 between 8 p.m. and 10 p.m. E.S.T.
  • Bidding is anonymous, simple and secure 
    • Register at IronGateAuctions.com with name, phone number and email address
    • Registrants can create their own auction item wish list and make anonymous bids throughout the duration of an auction
    • Bidders will receive email and/or text notifications for bids, outbids and won 
  • Bids can be placed from anywhere across Canada
  • Online auction catalogues can be searched by producer, region and sub-region, vintage and appraisal value
  • The platform features a real-time countdown clock that will track the time remaining in auction down to the second
  • No cost to register and place bids 
  • Successful bids will be charged a 17.5% buyers’ premium, well below the auction industry standard of 20% to 22.5%. Purchases are also subject to a 5% sales tax, the lowest in Canada and another benefit of hosting in Alberta
  • Once the auction closes and purchase are finalized, IronGateAuctions.com transfers title to each successful bidder at which point they are contacted by a shipping company who will make arrangements on the bidder’s behalf

More information: Demystifying Wine Auctions free webinar

Join Canada’s foremost wine auctioneer, Stephen Ranger, Director of Ranger Wine Inc., for a rare opportunity to learn how an online wine auction works, get wine buying strategies and hear expert analysis of hot commodities and smart buys before the inaugural IronGateAuction.com wine auction opens for bids. This free, one-hour webinar is designed to help all interested wine buyers, from new to seasoned wine collectors, to achieve the best possible outcomes with their online bids.

  • Date: Sunday, March 21
  • Time: 8 p.m. E.S.T. / 7 p.m. Central / 6 p.m. M.T. / 5 p.m. P.S.T.
  • Register for this free, one-hour webinar at www.irongateauctions.com/webinar
  • Please note: webinar attendees are not obligated to place bids in the auction

About Iron Gate – Private Wine Management

Founded in 2004, Iron Gate Private Wine Management offers fine wine collection management, off-site wine storage, cellar and wine appraisals, traditional and virtual wine auction services both commercially and for registered charities via IronGateAuctions.com, an Alberta corporation. In 2017, Iron Gate launched IronGate.Wine, a U.S.-based online wine retailer offering Canadian wine collectors access to sell on the secondary wine retail market in the U.S. 

Websites & Social Channels: 

irongatewine.com | IronGate.Wine | IronGateAuctions.com

Twitter: @irongatewine

Instagram: @irongatewine

Posted on

Online Charity Wine Auctions from Iron Gate

For Immediate Release

Virtual charity wine auctions poised to mitigate COVID-19 fundraising challenges

IronGateAuctions.com launches Nov. 17; helps charities increase returns compared to live auctions

Monday, Nov. 2 (Toronto, Ont.): On Nov. 17, Toronto-based Iron Gate Private Wine Management will launch IronGateAuctions.com, one of Canada’s first online wine auction platforms that will give charities more flexibility to fundraise while in-person events are cancelled due to COVID-19.  And, as charities continue to experience pandemic-related revenue shortfalls, IronGateAuctions.com is designed to help increase their net return compared to traditional live charity auctions.

The pandemic was a catalyst for permanent changes to liquor auctions recently announced by the Alcohol and Gaming Commission of Ontario (AGCO) that allow for virtual charity wine auctions. Iron Gate Wine founder, Warren Porter, has been lobbying for these changes for more than a decade, believing that the requirement for a live auction hindered a charity’s fundraising potential by limiting buyer demand and raising costs. 

“Iron Gate Wine has always believed that a virtual auction can substantially increase the amount of revenue that a wine auction can generate for charity and we’re thrilled that the AGCO is finally on board,” says Warren Porter, President, Iron Gate Wine and founder of IronGateAuctions.com. “Virtual auctions cost less to execute, provide access to a larger buyer base and offer more bidding flexibility, so we can create more demand compared to traditional events. In short, it’s a game-changer for charity wine auctions.” 

The Toronto Symphony Orchestra’s (TSO) 30th Annual Fine Wine Auction will be the first to run on Iron Gate’s virtual auction platform.  The week-long online event begins on Nov. 17 and will feature 500 wine lots valued at almost $1 million CAD with all proceeds benefitting TSO’s vital music and educational activities in the community. 

Traditionally, TSO’s Fine Wine Auction attracted buyers from Toronto. However, this year’s virtual auction has the potential to attract a broader audience and online bids can be made from anywhere across Canada. Additionally, purchases made at charity auctions are not subject to buyer premiums or sales tax applied to commercial auctions, equivalent to a 35 per cent savings for buyers.

“We’re confident that by taking this year’s wine auction online, the TSO will double its return,” says Porter. “And, virtual charity auctions are good for buyers too: they can find great wine, feel good about giving back to a worthwhile cause and avoid the extra costs associated with commercial wine auctions.”   

Buyers looking to shop online for a special holiday gift or seeking a specific vintage to celebrate a milestone birthday can preview the TSO Fine Wine Auction online catalogue beginning on Friday, Nov. 6. Wines from every region of the world and all price points will be on offer. Some rare and coveted lots include: 

Porter hopes that AGCO’s policy changes will encourage more charities to consider virtual wine auctions for their fundraising. 

“The virtual model offers flexibility and scalability,” says Porter. “Charities can auction fewer lots at one time or host a series of smaller auctions depending on their access to wine donations. It’s a turn-key fundraising solution that charities can access now, when they need it most.” 

Interested charities and wine buyers can register at IronGateAuctions.com for regular updates and early access to information about upcoming auctions. 

-30-

IRONGATEAUCTIONS.COM:  HOW IT WORKS: 

  • Bidding is anonymous, simple and secure 
    • Register at Irongateauctions.com with name, phone number and email address
    • Registrants can create their own auction item wish list and make anonymous bids throughout the duration of an auction
    • Bidders will receive email notifications for bids, outbids and won 
  • Bids can be placed from anywhere across Canada
  • Online auction catalogues can be searched by producer, region and sub-region, vintage and appraisal value
  • The platform features a real-time countdown clock that will track the time remaining in auction down to the second
  • No cost to register and place bids 
  • No additional taxes or buyer’s premium for charity wine auctions 

TORONTO SYMPHONY ORCHESTRA’S  30TH ANNUAL FINE WINE AUCTION:

  • Online catalogue preview begins on Friday, Nov. 6 at IronGateAuctions.com
  • High resolution images of all auction lots will be featured
  • Auction catalogue can be searched by producer, region and sub-region, vintage and appraisal value
  • The virtual auction goes live on Nov. 17 at 12 p.m. EST at IronGateAuctions.com and closes on Nov. 24 at 9 p.m. EST 
  • Full terms and conditions of the TSO 30th Annual Fine Wine Auction will be available at https://irongateauctions.com/terms-conditions by Nov. 17
  • Thanks to the generosity of wine donors, this year’s virtual auction will feature wines from every region of the world and at all price points. Some rare and coveted lots include

THE IMPACT COVID-19 ON CHARITABLE FUNDRAISING AND DONOR GIVING:

  • According to a May 2020 report published by Imagine Canada, charities are reporting a significant decline in revenue due to COVID-19
    • Revenues have declined an average of 30.6 per cent since the onset of the pandemic with 69 per cent of Canadian charities reporting a decrease
    • Arts, Culture & Recreation charities have been particularly hard hit, with 87 per cent reporting a decrease in revenues and almost three-quarters (74 per cent) reporting declines specifically in event-based fundraising 
  • A recent public opinion survey by Angus Reid Institute released on Sept. 17, 2020 reveals COVID-19 continues to curtail donor giving
    • Nearly two-in-five (37 per cent) Canadians who have donated to at least one charity over the last two years say their donations have decreased since March. 

About Iron Gate Private Wine Management

Founded in 2004, Iron Gate Private Wine Management offers fine wine collection management, off-site wine storage, cellar and wine appraisals, collection sales, traditional and virtual wine auction services via its newly launched subsidiary, Irongateauctions.com. In 2017, Iron Gate launched IronGate.Wine, a U.S.-based online wine retailer offering Canadian wine collectors access to the secondary wine retail market for the first time. Iron Gate Wine Management is based in the Leaside neighbourhood of Toronto. 

Websites & Social Channels: 

irongatewine.com | IronGate.Wine | IronGateAuctions.com

Twitter: @irongatewine

Instagram: @irongatewine

-end-