Auctions

Toronto wine auctions provide an opportunity to obtain fine and rare wines.  If you specialize in particular producers and are missing a few years, it is an opportunity to fill the gaps.  Also, if you are looking to make some money, fine wine has historically been a good investment.  Obviously, wines bought at auction don’t come cheap and so until recently, only well heeled collectors were likely to take part.

In the past, fine wine auctions had to be attended in person and organized either by a registered charity, often alongside a high priced tasting, and/or a food and wine experience with a visiting notable, or by Waddington’s on behalf of the LCBO.  See Waddington’s consignment process for further details.  Online liquor auctions are now allowed in Ontario following permanent changes to provincial regulations. So registered charities can switch from in-person attendance functions. Refer to the AGCO’s Guidelines for the detailed rules and regulations.

Iron Gate Auctions, who are based in Calgary, now have approval from the Alberta Gaming, Liquor & Cannabis Agency to conduct online auctions of fine wines supplied by their clients and run several a year.  Many such auctions are conducted on behalf of major charities.

Warren Porter, the founder of Iron Gate, hopes that online auctions will broaden the potential audience and give more Canadians a chance to find vintage wines that historically have rarely been available.  Iron Gate work closely with Stephen Ranger, who is Canada’s foremost wine auctioneer and Director of Ranger Wine Inc.

If you buy a wine at auction, you may be able to treat the amount in excess of the appraised value as a charitable donation for tax purposes. Check with the organizers beforehand.  If you donate wine to a charity auction, you will get a tax receipt for the value as determined by a CRA accepted appraiser.  This is one of the few ways that are possible in Ontario to slim down your portfolio other than drinking it since private sales of wine are illegal here.

See below for Ontario events with auctions that occur on an annual basis. Note that the month in which the event took place last year is listed as a default entry, and a specific date is entered when known. You can obtain further information, including how to obtain a ticket, via the link: