Dealing with Excessive Wine Stockpiles

[CaptainCurtis]

Thanks for sharing your experience selling wine this way. I am curious if you could provide an estimate of roughly how much those points cost once you factor in the money received from selling the bought wine. For instance, did you manage to get below 1 cent per point after selling some of the wine?

-RooFlyer88

I netted $21/pb, so just take that out of your calculations. Mine are messy as they involved split payments with family, multiple $50 vouchers etc. Again, I would suspect realised prices have come down since my stint, perhaps high teens now.

 

[kangarooflyer88]

You'd have to take the wine with you to claim TRS?

Yes. Specifically, the wine needs to be taken to the TRS desk (or is that ABF desk) landside so it can be sighted and the refund paperwork can be issued since you won't be able to take quantities of wine through international security. The thinking is after it is sighted you either dispose of the wine then and there or you pack it in your checked bag and then when you arrive at your destination hand it out as gifts or dispose of it in the biosecurity bin before clearing customs.

Whether it makes sense to go through all of that work would depend on the wine involved. To give you one example, right now you can buy a case of 12 bottles of Penley Estate for $780 which nets you roughly 36,000 points (or about 2.1 cents per point). If you could get the TRS on that (which amounts to 23.59% of the price or $184), the wine would instead cost you $596 which works out to 1.65 cents per point.

-RooFlyer88

 

[CaptainCurtis]

Yes. Specifically, the wine needs to be taken to the TRS desk (or is that ABF desk) landside so it can be sighted and the refund paperwork can be issued since you won't be able to take quantities of wine through international security. The thinking is after it is sighted you either dispose of the wine then and there or you pack it in your checked bag and then when you arrive at your destination hand it out as gifts or dispose of it in the biosecurity bin before clearing customs.

Whether it makes sense to go through all of that work would depend on the wine involved. To give you one example, right now you can buy a case of 12 bottles of Penley Estate for $780 which nets you roughly 36,000 points (or about 2.1 cents per point). If you could get the TRS on that (which amounts to 23.59% of the price or $184), the wine would instead cost you $596 which works out to 1.65 cents per point.

-RooFlyer88

Doesn't feel worth the effort, and hardly scalable. All imo.

Donation to a charity fundraiser is another option to explore.

 

[kangarooflyer88]

Doesn't feel worth the effort, and hardly scalable. All imo.

Donation to a charity fundraiser is another option to explore.

That's a possibility although you'd need a good accountant to provide advice on this strategy, as it is unclear fair market value is. Is it simply how much you paid Qantas wine which you donated or is it based on book value of a professional appraiser? Also, how do the bonus points component factor into this?

-RooFlyer88

 

[CaptainCurtis]

That's a possibility although you'd need a good accountant to provide advice on this strategy, as it is unclear fair market value is. Is it simply how much you paid Qantas wine which you donated or is it based on book value of a professional appraiser? Also, how do the bonus points component factor into this?

-RooFlyer88

Indeed, again possibly more hassle than it's worth.

 

[MELso]

The problem for you is a lot of the wine is worth less then half price, so you might find it hard someone to split it "fairly" down the middle.

I occasionally flog my wine to my uncle, who (fortunately for me) likes big Barossa/McLaren Vale reds.

I discount them based on the value of the points (assigning a notional value of 1cpp). For example, if a mixed dozen cost $400 on Qantas wines and came with 25,000 points, I'd sell to my uncle at $150 for the dozen. My uncle gets a supply of decent-for-the-price reds at $12.50 a bottle, and I get the wine off the floor of my spare bedroom. A win-win...