Fill Level Price Variants 

We are lucky to be able to record important granular facts for each bottle we get from UK auctions. Our “eyes on” approach to each bottle let us pay close attention to every detail and creates a database we can mine and look through to find patterns and learn more.

This has led us to inquire about the effect of fill level on prices paid and values realized. We have categorized the different levels as mentioned below, with a perfect or very excellent fill classified as “Into the Neck” and a very bad fill categorized as “High Body,” indicating that the liquid level is much below the shoulder of the bottle.

We assumed that the more appealing the bottle and the higher the price paid by a connoisseur, collector, or investor, the greater the fill level. Conversely, inadequate fill levels would result in the opposite effect. Our analysis, which looks at different prices for different fill levels and then figures out an overall “retained value,” shows that buyers pay less for the same bottle at all price points as the fill level goes down.

The extent to which minor changes in liquid level can affect value is of particular interest to RW101. A decline from the neck to the high shoulder can reduce values by up to 25%, a significant depreciation. Another 10% is lost from the HS to the upper mid-shoulder. Deals paid decrease as liquid levels fall. 

This insight is critical for several reasons:

• When seeking to acquire a bottle – please check the liquid level carefully – particularly if you plan to drink, collect or invest!

• If you just want a nice piece of glass and an excellent label and are not bothered about the liquid inside, look out for low levels and save yourself some cash!

Our graph (below) illustrates various fill levels and the related percentage of preserved value. The gold line represents the absolute average, whereas the black line represents a linear trend. This will help the seasoned auctioneer determine how much they should spend on varying degrees of fill bottles.

However, we must ask why some bottles’ liquid levels are less than perfect.

Experience suggests several factors that could be at play:

• The closure (cork/capsule or screw top) is imperfect, and vapor (and liquid) losses have occurred.

• The closure has failed and led to a catastrophic liquid loss, and staining should be apparent around the neck and possibly label the bottle. This can happen with cork bottles stored on their side rather than upright!

• Liquid abstraction – has someone opened, removed, and then re-closed the bottle? Sometimes a thirsty “visitor” may help themselves to your precious bottle… Proof, if yet more proof were needed, of the benefit of storing bottles in a safe location… away from home!

To preserve the integrity of bottles and the liquid they contain, it is recommended that you always fasten screw-on caps, press down corks, store bottles upright or vertically, maintain them in a generally constant temperature environment, and keep them out of direct sunlight.