Wine auctions are events where collectors and enthusiasts can buy and sell bottles of wine. These auctions can take place in person or online, allowing participants to bid on various wines, often including rare or vintage selections. The auction house typically provides detailed descriptions and estimates of the wines' values, helping buyers make informed decisions. Participants in wine auctions can range from casual drinkers to serious collectors. Bidders place offers on bottles they desire, and the highest bidder at the end of the auction wins the item. This process not only helps in valuing wine but also fosters a community of wine lovers.