This guide will help you understand the fine wine investment market.
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Vinovest allows you to sell your wine whenever you want. It is your decision whether to sell the wine when it reaches maturity or not. Here are some things to consider if you decide to sell before the recommended window.
What you need to know
Selling wine is similar to pawning an automobile or a home. Although online marketplaces have made it easier to sell, the process can still take months and require patience and negotiation.
This is how the selling timeline might look:
The process can take months because wine has less liquidity than stocks. (Re: wine doesn’t sell almost instantly.)
This is because most wine buyers only buy wine every month or quarter. It may take months for your wine to be sold. The more cycles you do, the greater your chances of receiving multiple bids for your wine.
Four additional things to know about selling.
Vinovest is an open marketplace.
Your wine will be listed on a global marketplace that is open to wine retailers, merchants, and collectors. Vinovest runs the platform but does not have any control over the bids or supply.
More competition when you sell early
The supply of young wines is higher than the supply of mature wines. Young wines are less liquid and in demand due to the increased supply.
Older wines tend to sell more quickly.
As they are nearing their peak drinking ability, mature wines have a greater demand. Prioritize your oldest vintages if you have a time-sensitive sale.
Your wine’s age is important.
Age is one of the factors that influence how long wine takes to sell. As an example, let’s look at Chateau Ausone. There are many cases available for a recent vintage (2022), so there is a large spread between the lowest bid and the highest offer. Due to this gap, buyers and sellers are less likely to compromise.
On the other hand, the older vintage (2002) has a small spread between the highest bid and lowest ask. This makes it easier for buyers and sellers to reach an agreed-upon selling price. This is normal. Mature wines tend to have greater demand and liquidity than younger wines.
Conclusion
Patience is key. You can maximize your profits by taking the time to gather multiple bids. The selling process is just beginning.
What is the process for accepting a bid?
Your wine will automatically sell if someone matches your price. If you accept a bid below your asking price, you can lower your wine’s price to match it.
How can I cancel my listing?
You can remove any wine from your list at any time.
Step 1. Click on your account settings at the top-right corner.
Step 2 Click “List My Wine” on the left.
Step 4: Click the “View Listings Button” at the bottom of the page
Step 4 Click the wine you wish to remove from sale under “Listed for Sale.”
Step 5 Select “Remove listing” and then select “Confirm remove listing.”
How can I tell when my wine has been sold?
You will receive an email informing you that your wine was sold at the price you paid.
Must I regularly update my listings?
No. You can use the “Flexible Pricing’ feature to list your wine once and then have the price updated according to the marketplace competition.
Why was my bid lower than the fair market value at this time?
Like any other market, the gap between the supply and demand of wine is significant. This gap can be large for young wines.
Some buyers will bid low because they believe that the seller is motivated and patient. If a seller is patient, they might receive higher bids.
My wine is still pending sale. How long before I receive my money?
Vinovest will transfer your money as soon as liquidation is completed. This process usually takes between 15 and 30 days. A pending order means that there is a buyer and that our team is working hard to complete the sale and invoice.