BID FOR WINE PROMISES TO SHAKE UP THE UK WINE MARKET

5 November 2008| Source: Bid for Wine

-Gives traders and private collectors unlimited access to a nationwide and international customer base
-Offers the first viable outlet for single bottle and part case sales
-Unlocks supply of aged and rare wines from private collections

Bid for Wine (www.bidforwine.co.uk), a newly launched wine auction site promises to fundamentally change the way wine is bought and sold in the UK.

Wine merchants can trade online and reach a wider audience without running an independent website, whilst small producers without importers can use the site to sell their wines in the UK.

Private individuals can now directly trade bottles or whole cases kept either in their possession or in professional storage, with commissions as low as 5.5%.

Bid for Wine will help reduce the "dozen dilemma", when wine lovers are forced to buy whole 12-bottle cases, for example in en primeur offers, but would prefer a variety of wines or can’t justify the expense of holding 12 bottles. They now know that they can easily sell part of a case via Bid for Wine.

Lionel Nierop, Managing Director of Bid for Wine, said: "We are using the internet to help overcome many of the challenges faced by independent wine merchants and producers who have to juggle the running of their day-to-day business with managing, promoting and sourcing or producing wines.

By offering a centralised site where wines can be bought and sold, we can help people access a wider audience than they would reach on their own and allow buyers to purchase wines they might not otherwise see.

We’re also offering a resource that individuals can use to unlock ‘cellared value’ by selling odd bottles or cases.

Merchants can also use the site to pick up older and rarer bottles they might otherwise only obtain via expensive and time-consuming attendance at auction house sales. It's a great service for anyone that enjoys wine.”

Bid for Wine will:

- Allow trading in wines that would otherwise be unavailable. These include older vintages and unusual wines.

- Offer those with cellars an efficient way to sell part of their collection if their requirements or other circumstances change.

- Cut the financial burden of holding wine. Families and individuals who love having a wine cellar now know that there is an efficient way to realise some of its value if necessary.

- Offer wines from additional sources, such as collections from estates being liquidated by lawyers, or hotels and restaurants that need to adjust their cellars.

- Allow merchants to reach a wider range of buyers.


Mr Nierop said: "In theory it has always been possible for people who love wine to trade with each other, but that will now become a common reality, which is great news for everyone with an interest in wine."

HOW IT WORKS

Bid for Wine is firstly a peer-to-peer auction site, meaning that its users deal with one another directly. Users register for a free account on the website and can then use a simple 5-step process to create auctions or fixed price listings. Once the wine sells, the seller arranges takes payment for the wines via Paypal or another method if preferred and arranges delivery to the buyer.

As the sale of alcohol is a licensable activity, some users may not be eligible to create peer-to-peer auctions. In this situation, they can still create auctions but are required to consign the wine to Bid for Wine’s bonded account for storage during an auction. Bid for Wine will then manage the sales process, take payment and arrange delivery.

For more information:
Visit: http://www.bidforwine.co.uk
Contact: Lionel Nierop

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